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  • The Nightcap: 18 Things You Didn’t Know About The BuzzFeed SPAC Merger (#6 will shock you!)

The Nightcap: 18 Things You Didn’t Know About The BuzzFeed SPAC Merger (#6 will shock you!)

Nightly recap of the day's SPAC highlights (June 24th, 2021)

Good evening,

Thanks for reading “The Nightcap”, a nightly recap of the highlights of the SPAC world. You can always discover and track all of the SPACs at spactrack.net.

Meme of the Day:

The Stats:

The Deals:

1) 890 5th Avenue Partners, Inc. (ENFA: $9.87) & BuzzFeed

  • BuzzFeed, the Leading, Culture-Defining Platform for Digital Content and Commerce, to Become a Publicly Listed Company through Merger with 890 Fifth Avenue Partners, Inc. (Press Release)

  • Merger Partner Description:

BuzzFeed has a strong portfolio of brands in key categories: Complex Networks, encompassing streetwear and fashion, food, music, and pop culture; two Pulitzer-Prize winning newsrooms, BuzzFeed News and HuffPost; BuzzFeed Entertainment, the flagship entertainment brand that curates the Internet and culture, and brings joy to its audience with quizzes, lists, and more; and Tasty Lifestyle Brands, which includes the world's largest food network and several other lifestyle brands that help its audiences live better.

  • Valuation: $1.5B EV

  • PIPE: No PIPE

  • Additional Financing: $150 million in convertible note financing led by Redwood Capital Management and including CrossingBridge Advisors, Cohanzick Management, and Silver Rock Financial LP

  • BuzzFeed Investor Presentation

  • If you didn’t get the “18 Things You Didn’t Know” reference above, then you might be a boomer, and to clarify… there is no list. Just some lighthearted humor.

2) ION Acquisition Corp 2 Ltd. (IACB: $9.90) & Innovid

  • Innovid, a Global Leader In Connected TV Ad Delivery and Measurement, to Become Publicly Listed at an Implied $1.3 Billion Valuation via a Merger with ION Acquisition Corp. 2 Ltd. (Press Release)

  • Merger Partner Description:

Innovid is the only independent omni-channel advertising and analytics platform built for television. We use data to enable the personalization, delivery, and measurement of ads across the widest breadth of channels in the market including TV, video, display, social, audio, and DOOH. Our platform seamlessly connects all media, delivering superior advertising experiences across the audience journey.

  • Valuation: $1.1B EV

  • PIPE: $150M including investments from Fidelity Management and Research Company LLC, Baron Capital Group, funds associated with ION, and others

  • Innovid Investor Presentation

Deal News Reports:

None today.

Quick News Corner:

  • Forum Merger III Corporation (FIII: $9.99) shareholders approve merger with Electric Last Mile

  • Forest Road Acquisition Corp. (FRX: $11.22) shareholders approve merger with Beachbody and Myx Fitness

  • FinTech Acquisition Corp. IV (FTIV: $13.28) completed its merger with Perella Weinberg Partners. FTIV will trade as PWP starting tomorrow.

  • Pershing Square Tontine Holdings’ (PSTH: $23.05) merger partner, Universal Media Group, signed a multiyear partnership with Snap to bring its artists’ tracks to the Snapchat platform

  • Northern Star Investment Corp. II’s (NSTB: $9.98) merger partner, Apex Fintech Solutions, announced its preliminary financial results for the first half of 2021: revenue of $219M and EBITDA of $92M, which is 86% of their previous guidance for FY2021 EBITDA ($106M)

New S-1 Filings:

1) Apeiron Capital Investment Corp. (APN)

2) ARYA Sciences Acquisition Corp V (ARYE)

3) Spinning Eagle Acquisition Corp. (SPNG)

Upcoming Dates:

This Week’s Shareholder Meetings and Unit Splits:

Friday, June 25th

  • Nothing scheduled

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SPAC Track