The Nightcap

Nightly recap of the day's SPAC highlights (March 16th, 2021)

March 16th, 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:

The Deals:

1) FinTech Acquisition Corp V (FTCV) & EToro, an Israeli “social trading” and investment platform.

  • $9.6B EV

  • $650M PIPE, including investments from ION Investment Group, SoftBank, and Third Point.

Deal News Reports:

None today.

Notable IPO’s to begin trading tomorrow:

1) Build Acquisition Corp. (BGSX.U)

  • $200M, 1/3 warrant

  • Focus: SaaS, Infrastructure Software, Fintech

  • Chairman & Co-CEO: Lanham Napier (Former CEO of Rackspace)

  • Director: Owen Van Natta (Former COO of Facebook, Former CEO of MySpace, Former Director of Zynga)

Notable S-1 Filings:

1) Skydeck Acquisition Corp. (SKYA)

  • $250M, 1/3 warrant

  • Focus: Media, Tech, Communications, Digital Health

  • Officers:

    • Paul Salem (Senior Managing Director Emeritus of Providence Equity, Chairman of MGM Resorts International)

    • Freddy” Flaxman (Former COO of the Weather Group)

  • Directors:

    • Janet L. Rollé (General Manager at Parkwood Entertainment: the media and management company founded by Beyoncé, Director of BuzzFeed, Former CMO of CNN Worldwide)

    • William Teuber, Jr. (Former Vice Chairman & CFO of EMC Corporation)

2) Newcourt Acquisition Corp (NCAC)

  • $200M, 1/3 warrant

  • Focus: Fintech with exposure to emerging markets

  • Officers:

    • Michael Jordaan… note the extra “a”… (Former CEO of First National Bank, CEO of Montegray Capital, and Chairman of Bank Zero)

  • Advisors

    • Ryan Gilbert (General Partner at Propel Venture Partners)

SPACs Leaving the Nest:

  • Roth CH Acquisition I Co (ROCH) shareholders approve the business combination with PureCycle Technologies. ROCH will trade as PCT upon merger completion.

Upcoming Dates:

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

Wednesday, March 17th

  • Longevity Acquisition Corp (LOAC) Shareholder Meeting to Approve Business Combination with 4D Pharma

  • Unit Splits: Mountain Crest Acquisition Corp. II (MCAD)

Thursday, March 18th

  • Unit Splits: Biotech Acquisition Company (BIOT), D and Z Media Acquisition Corp. (DNZ), Hudson Executive Investment Corp. II (HCII)

Friday, March 19th:

  • CIIG Merger Corp (CIIC) Shareholder Meeting to Approve Business Combination with Arrival

  • Unit Splits: Climate Real Impact Solutions II Acquisition Corporation (CLIM)

Visuals:

There are now 109 SPACs with merger deals announced.

Below is a graphic with the Implied Market Caps at the current share prices along with the 2021 projected revenues for all of the current SPAC merger partners.

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Thanks for reading,

SPAC Track