The Nightcap

Nightly recap of all the day's SPAC highlights (Feb 17th, 2021)

February 17th, 2021

Good evening,

Thanks for reading “The Nightcap”, a nightly recap of all the day’s highlights in the SPAC world. In this newsletter, you will find a breakdown of the day’s deals, IPO’s, “in talks” reports, and noteworthy new SPAC S-1 filings.

Of course, you can always discover and track all of the SPACs at spactrack.net.

The SPAC Market Stats:

Volume Leaders:

Top Gainers:

Top Losers:

The Deals:

1) Artius Acquisition Corporation (AACQ) & Origin Materials, maker of bioplastic materials.

  • $999M EV

  • $200M PIPE, including investments from Danone, Nestlé, and PepsiCo.

  • AACQ closed the day at $13.50 (-3.57%)

2) CF Finance Acquisition Corp. III (CFAC) & A-Eye, a developer of light detecting and ranging (LiDAR) systems for autonomous vehicles.

  • $2B EV

  • $225M PIPE

  • CFAC closed the day at $11.15 (-17.6%)

3) Alpha Healthcare Acquisition Corp (AHAC) & Humacyte, a developer of “universally implantable bioengineered human tissues and organs”.

  • $849M EV

  • $175M PIPE

  • AHAC closed the day at $12.65 (+20.9%)

Deal News Reports:

1) Altitude Acquisition Corp. (ALTU) is in talks with Boeing-backed Aerion, a supersonic jet company, at a $3B valuation, according to Bloomberg.

2) Osprey Technology Acquisition Corp. (SFTW) is said to be merging with BlackSky Holdings, a satellite company that provides “geospatial intelligence” to its customers, at a $1.5B valuation, according to Bloomberg.

Notable IPOs:

1) SportsTek Acquisition Corp. (SPTK.U)

  • $150M, 1/2 warrant

  • Focus: Sports: franchises, media, data analytics, & Tech

  • Co-CEO and Director:

    • Tavo Hellmund (Founder of the FIA Formula-1 United States Grand Prix and Co-founder of Circuit of the Americas)

  • Chairman and Director:

    • Jeffrey Luhnow (Former General Manager of the Houston Astros)

  • Director:

    • Sashi Brown (Chief Planning & Operations Officer of Monumental Sports & Entertainment and Former Executive Vice President of Football Operations for the Cleveland Browns)

  • SPTK.U closed the day at $10.29

2) FinServ Acquisition Corp. II (FSRX.U) — will trade tomorrow

  • $265M, 1/4 warrant

  • Focus: Fintech, Financial services

  • CEO and Director:

    • Lee Einbinder (Former Vice Chairman at Barclays)

  • Director:

    • Michael Vaughan (Former COO of Venmo)

3) Kismet Acquisition Two Corp (KAII.U) and Kismet Acquisition Three Corp (KIII.U) — will trade tomorrow

  • Focus: Internet, Tech, Europe (including Russia)

  • KAII.U:

    • $200M, 1/3 warrant

  • KIII.U:

    • $250M, 1/3 warrant

  • Kismet Acquisition One Corp (KSMT) announced a merger with Nexters Global earlier this month. KSMT closed the day at $10.08

Notable New SPAC S-1 filings:

1) Sandbridge X2 Corp. (SBII)

  • $200M, 1/3 warrant

  • Focus: Consumer

  • Chairman and CEO:

    • Ken Suslow (Founder of Sandbridge Capital)

  • Director:

    • Domenico De Sole (Co-Founder of Tom Ford and Former CEO of Gucci Group)

  • Sandbridge Acquisition Corp. (SBG) announced a merger with Owlet yesterday. SBG closed the day at $10.46.

2) Advancit Acquisition Corp. I (AACO)

  • $350M, 1/3 warrant

  • Focus: Media & Technology

  • Chairman:

    • Jonathan Miller (Former CEO of AOL, Former Chairman & CEO of News Corporation’s Digital Media Group, Former Director of Hulu, and Director of The Nielsen Company)

  • CEO and Director:

    • Randy Freer (Former CEO of Hulu, Former COO of Fox Networks Group, and Former COO of Fox Sports Media Group)

  • Director:

    • Troy Carter (Founder of the entertainment company, Atom Factory)

3), 4), and 5) InterPrivate II Acquisition Corp (IPVA), InterPrivate III Financial Partners (IPVF), and InterPrivate IV InfraTech Partners Inc (IPVI)

  • Chairman & CEO:

    • Ahmed Fattouh (CEO of InterPrivate)

  • IPVA

    • $200M, 1/4 warrant

    • Focus: Auto-tech and mobility, business services, consumer, retail, e-commerce, industrial technology

  • IPVF

    • $200M, 1/4 warrant

    • Focus: Asset & Wealth Management, Banking, Non-bank lending, Insurance

  • IPVI

    • $250M, 1/4 warrant

    • Focus: TMT infrastructure

  • InterPrivate Acquisition Corp (IPV) announced a merger deal with Aeva in November of last year. IPV closed the day at $16.95.

6) FG New America Acquisition II Corp (FGNB)

  • $225M, 1/3 warrant

  • Focus: Financial Services, Insurance

  • Chairman and Director:

    • Joseph Mogolia (Former CEO and Chairman of TD Ameritrade)

  • FG New America Acquisition I (FGNA) announced a merger deal with OppFi last week. FGNA closed the day at $10.59.

7) dMY Technology Group, Inc. IV (DMYQ)

  • $250M, 1/5 warrant

  • Focus: Consumer Tech/ Apps

  • Chairman

    • Harry You (Former CFO of Oracle and Founder of GTY Technology Holdings)

  • CEO and Director:

    • Niccolo de Masi (Chairman and Former CEO of Glu and CEO of dMY Technology Group III)

  • Director:

    • Darla K. Anderson (Academy Award winner, Film Producer at Netflix, and Former Film Producer at Pixar Animation Studio— produced “Coco,” “Toy Story 3,” “Cars,” “Monsters, Inc.” )

  • dMY Technology Group II (DMYD) announced a merger deal with Genius Sports in October of last year. DMYD closed the day at $19.16.

8) Stratim Cloud Acquisition Corp. (SCAQ)

  • $250M, 1/3 warrant

  • Focus: Software (cloud infrastructure, consumer and enterprise SaaS, and security)

  • Chairman and CEO:

    • Sreekanth Ravi (Founder & Executive Chairman of RSquared AI and Co-Founder & Former CEO of Tely)

  • Directors:

    • Scott Wagner (Former CEO of GoDaddy)

    • Doug Bergeron (Co-managing Partner of Hudson Executive Capital)

9) and 10) Warburg Pincus Capital Corp I-A (WPCA) and Warburg Pincus Capital Corp I-B (WPCB)

  • WPCA

    • $250M, 1/5 warrant

  • WPCB

    • $500M, 1/5 warrant

Upcoming Dates:

Tomorrow’s Shareholder Meeting:

Thursday, 2/25:

  • Switchback Energy Acquisition Corporation (SBE) Shareholder Meeting to Approve Business Combination with ChargePoint

This Week’s Unit Splits (common shares and warrants to commence trading separately from underlying units):

Friday, 2/19

  • Dune Acquisition Corp (DUNE)

Visuals are tight:

In honor of Churchill Capital Corp. IV (CCIV) hitting an All-Time High of $59.50 today — Reuters reported yesterday that CCIV is nearing a merger deal with Lucid Motors — here are the highest ATH’s among current SPACs & Former SPACs that completed in 2020 and later.

Thank you for reading.

Thanks,

SPAC Track