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- Look up in the sky! It's a bird! It's a plane! It's 2 more evTOL companies hitting the market next week!
Look up in the sky! It's a bird! It's a plane! It's 2 more evTOL companies hitting the market next week!
The Nightcap newsletter: SPAC Track’s nightly recap of the action in the SPAC world. (September 10, 2021)
Discover and track all of the SPACs at spactrack.net.
The average return among De-SPACs (common shares return from IPO) completed YTD is now 4.3%. Last Tuesday, that number was 2%, and the Monday prior to that, it was -6.3%.
On August 17th, only 24% of the De-SPACs that completed their mergers in 2021 were trading above their $10 IPO price. Since then, the number has risen to 41%.
The Stats:
#SPAC Volume Leaders (9/10)
$FHLT-U* 14.8M (AI)
$SLVR-U* 7.3M (AI)
$FLAG-U* 4.5M (AI)
$SRNG 3.6M
$AUS 2.9M
$AAC 2.8M
$CMLT 2M
$HTPA 2M
$VIH 1.8M
$MAAC 1.6M*New IPO
AI - Significant "Anchor Investor" participation in IPO in exchange for founder shares. More details on AI below.— SPAC Track (spactrack.io) (@SPACtrack)
8:47 PM • Sep 10, 2021
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The Deals (1):
1) Golden Path Acquisition Corporation (GPCO, warrants +13.9%) & MC Hologram
Merger Partner Description:
Valuation: $450M
PIPE: No PIPE
No Investor Presentation filed yet
Quick News Corner:
Qell Acquisition Corp. (QELL) shareholders approve its merger with Lillium
Closing is expected on 9/14, with ticker change to LILM expected on 9/15
Total proceeds were $584M, with 65% shares redeemed
D8 Holdings Corp. (DEH) and Vicarious Surgical announce $27M additional commitments for the PIPE, bringing the total to $142M
Tracking De-SPAC S-1s (PIPE Registrations):
New S-1s (4):
1) Berenson Acquisition Corp. I (BACA)
$250M, 1/2 warrant
Focus: Software or technology-enabled services sectors
Directors:David Panton (Co-founder of Navigation Capital Partners)
2) Black Mountain Acquisition Corp. (BMAC)
$200M, 1 warrant
Focus: Energy
3) Energem Corp (ENCP)
$100M, 1/2 warrant
Focus: Oil & Gas and Energy transition outside of China and Hong Kong
4) Super Plus Acquisition Corp (Ticker not available yet)
$50M, 1/2 warrant
Focus: Asia and North America
Upcoming Dates:
Next Week’s Announced Shareholder Meetings, Unit Splits, Warrant Redemptions, and Expected Ticker Changes
Mon, Sep 13
Unit Split: Belong Acquisition Corp. (BLNG-U)
Tues, Sep 14
Merger Meetings: Soaring Eagle Acquisition Corp. (SRNG) & Ginkgo BioworksAtlas Crest Investment Corp. (ACIC) & Archer AviationTPG Pace Tech Opportunities Corp. (PACE) & Nerdy
Wed, Sep 15
Merger Meetings:D8 Holdings Corp (DEH) & Vicarious SurgicalRotor Acquisition Corp. (ROT) & Sarcos Robotics
Expected Ticker Change:Qell Acquisition Corp. (QELL) --> Lilium (LILM)
Thurs, Sep 16
Merger Meetings:Cerberus Telecom Acquisition Corp (CTAC) & KORE
Expected Ticker Change:Rice Acquisition Corp. (RICE) --> Archaea Energy (LFG)
Thanks for reading,