The Nightcap

Nightly recap of all the day's SPAC highlights (Feb 26th, 2021)

February 26th, 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 and Losers:

The Deals:

No deals today.

Deal News Reports:

No deal news reports today.

Notable S-1 Filings:

1) Foresite Life Sciences Corp. (Ticker not yet available)

  • $250M shares, no warrants

  • Focus: Biotech, Life Sciences

  • President, CEO, & Director: Jim Tananbaum (Founder & CEO of Foresite Capital)

  • Sponsor’s Previous SPAC to Announce a Deal: (FSDC) merged with Gemini Therapeutics (GMTX) earlier this month. GMTX closed the day at $15.20.

2) and 3) RMG Acquisition Corp. IV (RMGD) and VII (RMGG)

  • Executive Chairman & Director: James Carpenter (CEO of Riverside Management Group)

  • CEO: Robert Mancini (Chairman of Romeo Power)

  • Advisors: 

    • Jeffrey Bornstein (Former Vice Chairman & CFO of GE)

    • Randel Falco (Former Chairman & CEO of AOL)

    • Edward Forst (Former CEO of Cushman & Wakefield)

    • Eric Smith (Former CEO of Swiss Re Americas)

  • RMGD

    • $275M, 1/5 warrant

  • RMGG

    • $725M, 1/5 warrant

  • Sponsor’s Previous SPACs to Announce a Deal:

    • RMG Acquisition Corp (RMG) merged with Romeo Systems (RMO) in December of last year. RMO closed the day at $12.33.

    • RMG Acquisition Corp. II (RMGB) announced a merger deal with ReNew Power this week. RMGB closed the day at $11.00.

4) FAST Acquisition Corp. II (FZT)

  • $200M, 1/4 warrant

  • Focus: Restaurant, Hospitality

  • CEO & Director: Sandy Beall (Founder of Ruby Tuesday),

  • Chairman: Kevin Reddy (Former COO of Chipotle and CEO of Noodles & Company)

  • Director: Michael Lastoria (Co-founder and CEO of &pizza)

  • Sponsor’s Previous SPAC to Announce a Deal: FAST Acquisition Corp. (FST) announces a merger deal with Fertitta Entertainment early this month. FST closed the day at $11.48.

5) Blueprint Health Merger Corp. (Ticker not yet available)

  • $200M, 1/3 warrant

  • Focus: Digital Health

  • CEO & Director: Dr. Rajiv Kumar (Chief Medical Officer of Virgin Pulse)

  • Vice Chairman: Neil Parikh (Co-founder & Director of Casper Sleep)

  • Director: Richard Harrington (Former CEO of Thomson Reuters, Former Director of Aetna & Xerox)

6) Build Acquisition Corp. (BGSX)

  • $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)

7) and 8) Tiga Acquisition Corp II (TTO) and II (TTRE)

  • Chairman & CEO: Raymond Zage (CEO of Tiga Investments)

  • TTO:

    • $200M, 1/4 warrant

  • TTRE:

    • $300M, 1/4 warrant

9) Cornerstone Investment Capital Holdings Co. (CSIC)

  • $250M, 1/3 warrant

  • Focus: Tech

  • Chairman & CEO: Robert Greifeld (Former Chairman & CEO of Nasdaq, Chairman of Virtu Financial)

10) Switchback III Corporation (SWBT)

  • $275M, 1/5 warrant

  • Focus: Energy Transition, Sustainability

  • Director: Philip Deutch (Former COO of Social Capital)

  • Sponsor’s Previous SPAC to Announce a Deal: Switchback Energy Acquisition Corp (SBE) completed its merger with ChargePoint (CHPT) today. SBE (will be CHPT on Monday) closed the day at $30.83. 

11) TortoiseEcofin Acquisition Corp. III (TRTL)

  • $300M, no warrants

  • Focus: Energy Transition, Sustainability

  • Sponsor’s Previous SPACs to Announce a Deal:

    • Tortoise Acquisition Corp (SHLL) merged with Hyliion (HYLN) in October of last year. HYLN closed the day at $15.12.

    • Tortoise Acquisition Corp. II (SNPR) announced a merger deal with Volta Industries earlier this month. SNPR closed the day at $12.74.

12) Big Sky Growth Partners (BSKY)

  • $300M, 1/5 warrant

  • Focus: Internet Retail and Direct-to-Consumer

  • Chairman & CEO: Mark Vadon (Co-founder of Zulily, Former Chairman of Chewy)

  • Directors:

    • Joseph Zwillinger (Co-founder of Allbirds)

    • Michael Smith (Director & Former COO of Stitch Fix, Former COO of Walmart.com, Director of Ulta Beauty)

SPACs Leaving the Nest:

  • Switchback Energy Acquisition Corporation (SBE) announced the closing of the business combination with Chargepoint.

    • The new company, “ChargePoint Holdings” is expected to begin trading on the NYSE as CHPT on Monday, March 1st.

Upcoming Dates:

Next Week’s Shareholder Meetings:

Friday, 3/5:

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

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

Monday, 3/1:

  • Locust Walk Acquisition Corp. (LWAC), Provident Acquisition Corp. (PAQC), Ivanhoe Capital Acquisition Corp. (IVAN), Empowerment & Inclusion Capital I Corp. (EPWR), KL Acquisition Corp (KLAQ), Tastemaker Acquisition Corp. (TMKR), Prospector Capital Corp. (PRSR), Bright Lights Acquisition Corp. (BLTS), KludeIn I Acquisition Corp. (INKA)

Wednesday, 3/3

  • Adit EdTech Acquisition Corp. (ADEX)

Thank you for reading.

Thanks,

SPAC Track