An elusive SoftBank-sponsored SPAC deal may be on the horizon

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The Stats:

The Deals:

None today.

Merger Votes/ Completions:

• Horizon Acquisition Corporation (HZAC) completed its merger with Vivid Seats. Ticker will change to SEAT tomorrow

• GS Acquisition Holdings Corp II (GSAH) and Mirion Technologies announce they expect to raise appx $554M from the GSAH trust, indicating an estimated 26% of public shares were redeemed

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News

Walmart-backed robotics group Symbotic in $4.5bn talks to merge with SoftBank SPAC

A robotics and automation company backed by Walmart, the world's biggest store-based retailer, is in talks to merge with a 'blank cheque' company set up by the Japanese technology giant SoftBank.

Sky News has learnt that Symbotic, which is run by founder Rick Cohen, is in discussions with SVF Investment Corp 3 (SVFC), a New York-listed special purpose acquisition company, about a deal that would value the merged entity at about $4.5bn (£3.3bn).

If successfully completed, Walmart is expected to participate in the capital-raising element of the deal known as the PIPE (private investment in public equity) alongside other investors.

Quick News:

• Yucaipa Acquisition Corporation (YAC) upsizes PIPE by an addditional $70M, bringing total PIPE proceeds for the merger with SIGNA Sports United to $372M and signs a $178M backstop agreement with Bridgepoint, SIGNA’s controlling shareholder.

• BowX Acquisition Corp. (BOWX), which will have its merger vote meeting tomorrow, enters into a $150M backstop agreement with DTZ Worldwide Limited

Tracking De-SPAC S-1s (including PIPE resale registrations):

• Jasper Therapeutics (JSPR: $13.35 -18.70%) filed S-1

• Archaea Energy (LFG: $17.83 +0.68%) filed S-1/A

IPOs to begin trading tomorrow*:

1) Fintech Ecosystem Development Corp. Announces Pricing of $100,000,000 Initial Public Offering (FEXD-U)

2) SportsMap Tech Acquisition Corp. Announces Pricing of $100,000,000 Initial Public Offering (SMAP-U)

3) Blockchain Moon Acquisition Corp. Announces Pricing of $100 Million Initial Public Offering (BMAQ-U)

*Priced at the time of this writing

New S-1s (1):

1) Talon 1 Acquisition Corp (TOAC)

• $200M, 1/2 Warrant

• Focus: Global aerospace, aviation, and aviation service

• Management: Edward Wegel (Founder, & Former CEO of Eastern Air Lines Group)

• Directors:Joseph DaGrosa, Jr. (Founder & Chairman of DaGrosa Capital Partners and Chairman of Girondins de Bordeaux F.C.)

Upcoming Dates:

This Week’s Announced Shareholder Meetings, Unit Splits, Warrant Redemptions, and Expected Ticker Changes

See the full calendar here.

Thanks for reading,

SPAC Track

spactrack.net

Note: Share prices only included if 5%+ moves and for all De-SPAC PIPE entries

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