The Morning Update with the 2022 Annual Stats

2022 Annual Stats

Deals

• 181 Mergers Announced

• 102 Mergers Completed

  • 200 completed in 2021 and 64 in 2020

• 55 Terminations

IPOs

• 86 SPAC IPOs

  • 613 IPOs in 2021 and 248 in 2020

• ~80 filed registrations to go public

Liquidations

• 144 SPACs liquidated in 2022, with 8 in the process of liquidating in 2023

  • 1 liquidation in 2021

• There were 692 Active SPACs at the beginning of 2022. This brings the 2022 liquidation rate to 21%.

Current Stats:

• Total SPACs Searching: 375

• Announced Deals: 148

• Total Active SPACs: 531

SPAC Trading Stats (prev. session)

News & De-SPAC Updates

• SEC charges Cooper Morgenthau, the former CFO of African Gold Acquisition Corp. [$AGAC], for stealing more than $5M from AGAC, as well as from investors in two other SPACs he incorporated. The complaint alleges that Morgenthau embezzled the funds to "to pay for his personal expenses and to trade in crypto assets and other securities."(PR)

The Deals

1) HNR [$HNRA] & Pogo Resources

• Valuation: $100M pre-money equity

• 8-K Report

SPAC Updates

Liquidations / Terminations

• Deep Lake Capital [$DLCA] announced it will liquidate effective Jan 17 at a redemption price of appx. $10.124 per share. The last trading day is expected to be Jan 13. (PR)

Merger Votes / Completions

Completions:

• Cartesian Growth (GLBL) & Tiedemann Group and Alvarium Investments. The combined company is operating as Alvarium Tiedemann Holdings and will begin trading as ALTI today. (PR)

Vote Set:

• Jack Creek Investment [$JCIC] postponed its meeting to vote on the merger with Bridger Aerospace to Jan 12 at 10:30am EST. (PR)

Extensions

• OceanTech I [$OTEC] deposited $125,000 into trust, or $0.067 per public share, to fund its extension from Jan 2 to Feb 2 (the 2nd of 6 1-month extensions available). (PR)

More

• Redwoods [$RWOD], which reported in December that it had entered into a non-binding LOI with Xin Bo Xing, now reports that it is no longer pursuing a transaction with the company. (SF)

• M3-Brigade II's [$MBAC] sponsor abandoned its interest in 7.5M private placement warrants, with no consideration. (SF)

• RMG III [$RMGC] announces it has entered into a non-binding LOI with H2B2 Electrolysis Technologies, "a leading developer and operator of green hydrogen production systems for clean energy generation". (PR)

• Kernel Group [$KRNL] transferred its interest in KRNL to VKSS Capital, with the new sponsor group replacing the management and directors. (More details: SF)

Listings

IPOs, New S-1

• —

Registration Withdrawals

• Ace Global Business Acquisition II

Key Filings

Extensions:

• Brilliant [$BRLI] (DEF)

• Murphy Canyon [$MURF] (DEF)

• Innovative International [$IOAC] (DEF)

• CC Neuberger Principal III [$PRPC] (PRE)

S-4 Filings*:

• LIV Capital II [$LIVB] & Covalto (F-4)

• Data Knights [$DKDCA] & OneMedNet (S-4/A)

• AMCI II [$AMCI] & LanzaTech NZ (S-4/A)

Post-Merger S-1 Filings**:

• Rubicon Technologies [$RBT] (S-1/A)

*Latest S-4 filings are found in the “Deal Details” view under the column “S-4 Link”**including PIPE resale registrations where applicable — latest post-merger S-1 filings are found in the “De-SPAC" view under the column “Post-Close S-1”

Key Event Calendar:

See the full calendar with proxy links here.

Thanks for reading,

The team at SPAC Track (spactrack.io)

Abbreviations: DA: Definitive Agreement, MA: Merger Approved, PR: Press Release, SF: Company filing with the SEC, IP: Investor Presentation, Bloomberg: BB, Reuters: RTS, TechCrunch: TC, Business Insider: BI

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