The Nightcap

Nightly recap of the day's SPAC highlights (May 11th, 2021)

May 11th, 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 Stats:

The Deals:

1) Aurora Acquisition Corp. (AURC) & Better

  • $6.73B EV

  • $1.5B PIPE

2) Soaring Eagle Acquisition Corp. (SRNG) & Ginkgo Bioworks

  • $15.16B EV

  • $775M PIPE

Deal News Reports:

None today.

New S-1 Filings:

1) LTV Capital Partners I (LTVA)

  • $215M, 1/3 warrant

  • Focus: Tech

  • Management:

    • Jeffrey Housenbold (Managing Partner at SoftBank Investment Advisers, Former CEO of Shutterfly, Director of DoorDash, and Former Director of Chegg & Groupon)

    • Sukhinder Singh Cassidy (Former President of StubHub and Director of Upstart & Urban Outfitters)

  • Directors:

    • Philip Marineau (Former CEO of Levi Strauss & Co and Former Chairman of Shutterfly)

2) Seven Islands Inc (SVNI)

  • $300M, 1/4 warrant

  • Focus: Media, entertainment, consumer technology, healthcare, and education industries in Southeast and South Asia, with a particular focus on India.

  • Management:

    • James Murdoch (Former CEO of 21st Century Fox, Former CEO of Sky, Director of Tesla, and Former Director of GlaxoSmithKline & Sotheby’s)

  • Directors:

    • Gary Knell (Chairman of National Geographic Partners, Former CEO of the National Geographic Society, Former CEO of NPR, and Former CEO of Sesame Workshop)

3) M3-Brigade Acquisition III Corp. (Ticker not available yet)

  • $400M, 1/3 warrant

  • Focus: Companies impacted positively or negatively by the COVID-19 pandemic or businesses in the renewable energy sector

  • Management:

    • Mohsin Meghji (Managing Partner of M-III Partners)

Notable SPAC News:

Thyssenkrupp is considering an initial public offering (IPO) or a deal with a special purpose acquisition company (SPAC) for its hydrogen business, Chief Executive Martina Merz said on Tuesday.

A 66-34 joint venture of Thyssenkrupp and Italy's De Nora, Thyssenkrupp Uhde Chlorine Engineers (TKUCE) is the world's largest supplier of chlor-alkali membrane technologies used to produce hydrogen.

In a call with analysts, Merz said Thyssenkrupp has hired an investment bank to explore strategic options for the business and to come up with proposals by the summer.

Upcoming Dates:

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

Wednesday, May 12th

  • GreenVision Acquisition Corp (GRNV) Shareholder Meeting to Extend Deadline for Business Combination

Thursday, May 13th

  • Unit Splits: Supernova Partners Acquisition Co III, Ltd. (STRE), Forum Merger IV Corporation (FMIV), ArcLight Clean Transition Corp. II (ACTD), TB SA Acquisition Corp (TBSA), Gores Guggenheim, Inc. (GGPI)

Friday, May 14th

  • GX Acquisition Corp (GXGX) Shareholder Meeting to Extend Deadline for Business Combination

  • Unit Splits: Disruptive Acquisition Corporation I (DISA)

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SPAC Track