The Nightcap

Nightly recap of all the day's SPAC highlights (March 3rd, 2021)

March 3rd, 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:

The Deals:

1) Vistas Media Acquisition Company Inc. (VMAC) & Anghami, a music streaming service in the Middle East and North Africa.

  • $220M EV

  • $40M PIPE

Deal News Reports:

1) Qell Acquisition Corp (QELL) is in talks to merge with Lilium, a German eVTOL (electric vertical takeoff and landing) passenger jet company.

2) Reinvent Technology Partners Z (RTPZ) is nearing a merger deal with Hippo, a home insurance company, at a more than $5B valuation, according to Bloomberg. The Bloomberg article notes that the deal could be announced as early as tomorrow.

Notable IPO’s to begin trading tomorrow:

1) FTAC Hera Acquisition Corp. (HERA.U)

  • $800M, 1/4 warrant

  • Focus: Fintech

  • Chairman: Betsy Cohen (Founder & Former CEO of The Bancorp and serial SPAC sponsor)

  • President & CEO: Daniel Cohen (Chairman of Cohen & Company)

  • Sponsor’s Previous SPAC to Announce a Deal: FTAC Olympus Acquisition (FTOC) announced a merger deal with Payoneer on February 3rd. FTOC closed the day at $10.68.

2) Atlantic Coastal Acquisition Corp. (ACAH.U)

  • $300M, 1/3 warrant

  • Focus: Next-Generation Mobility

  • Chairman and CEO: Shahraab Ahmad (Founder and CIO of Decca Capital)

  • Director: Bryan Dove (Former CEO of Skyscanner)

Notable S-1 Filings:

1) Lead Edge Growth Opportunities, Ltd (LEGA)

  • $300M, 1/3 warrant

  • Focus: Software, Internet, Tech

  • Chairman & CEO: Mitchell Green (Founder & GP of Lead Edge)

  • Director: Meg Whitman (Former CEO of HP, Former CEO of eBay, Former CEO of Quibi, and Director of Procter & Gamble)

2) Space Acquisition Corp. I (OUTR)

  • $300M, 1/3 warrant

  • Focus: Space Economy

  • Co-CEO: Raphael Roettgen (Founder of E2MC, a space-focused venture capital firm)

3) Motor City Acquisition Corp. (MCYT)

  • $250M, 1/4 warrant

  • Focus: Automotive and Mobility

  • Chairman & CEO: Robert Wagman (Former CEO of LKQ Corporation)

  • Directors:

    • Jeremy Anspach (Founder & CEO of PureCars)

    • William Giles (Former CFO of Autozone)

4) 1.12 Acquisition Corp (OPOT)

  • $350M, 1/4 warrant

  • Focus: Financial services, technology, software, data, analytics, asset management, internet related services and related areas

  • Founder & Chairman: Frank Martire, Jr. (Executive Chairman of NCR, Director of Cannae Holdings, and Former Chairman & CEO of FIS Global)

Upcoming Dates:

This Week’s Shareholder Meetings:

Friday, 3/5:

  • CF Finance Acquisition Corp II (CFII) Shareholder Meeting to Approve Business Combination with View

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

Thursday, 3/4

  • Global Partner Acquisition Corp II (GPAC)

  • Legato Merger Corp. (LEGO)

Friday, 3/5

  • Deep Lake Capital Acquisition Corp. (DLCA), Fortress Capital Acquisition Corp. (FCAX)

Thank you for reading.

Thanks,

SPAC Track