The Nightcap

Nightly recap of all the day's SPAC highlights (Feb 12th, 2021)

February 12th, 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) Falcon Capital Acquisition Corp (FCAC) & Sharecare, a consumer health and wellness platform.

  • $3.75B EV

  • $425M PIPE

  • FCAC closed the day at $11.31 (-3.91%)

2) Fuse Acquisition Corp (FUSE) & MoneyLion, a digital personal finance platform.

  • $2.36B EV

  • $250M PIPE including investments by Funds and Accounts Managed by BlackRock and Funds Managed by Affiliates of Apollo Global Management

  • FUSE closed the day at $11.49 (-5%)

Deal News Reports:

Artius Acquisition Corp (AACQ) is in talks to merge with Origin Materials, a plant-based plastic developer, according to Bloomberg.

Notable IPOs:

1) and 2) Churchill Capital Corp VI (CCVI.U) and Churchill Capital Corp VII (CVII.U)

  • Chairman & CEO:

    • Michael Klein (Former Co-CEO of Citigroup Markets and Banking and Serial SPAC Sponsor)

  • Churchill Capital Corp VI (CCVI.U)

    • $480M, 1/5 warrant

    • Director:

      • Glenn August (Founder and CEO of Oak Hill Advisors)

    • CCVI.U closed the day at $11.22 (+12.2%)

  • Churchill Capital Corp VII (CVII.U)

    • $1.2B, 1/5 warrant

    • CVII.U closed the day at $10.67

Notable New SPAC S-1 filings:

28 SPACs filed S-1’s today. A new record! Here are some of the more notable ones:

1) Jaws Juggernaut Acquisition Corp (JUGG)

  • $200M, 1/4 warrant

  • Focus: Wireless communications and may pursue a business combination with XCOM Labs, Paul Jacobs’ wireless technology company, and another company.

  • Chairman:

    • Barry Sternlicht (Chairman & CEO of Starwood Capital)

  • CEO and Director:

    • Paul Jacobs (Former Executive Chairman & CEO of Qualcomm and Chairman & CEO of XCOM Labs)

2), 3), and 4) Khosla Ventures Acquisition Co (KVSA), Khosla Ventures Acquisition Co II (KVSB), Khosla Ventures Acquisition Co III (KVSC)

  • Founder:

    • Vinod Khosla (Founder of Khosla Ventures)

  • Focus: Companies with highly differentiated proprietary technology

  • Khosla Ventures Acquisition Co (KVSA)

    • $300M, no warrants

    • Directors:

      • Jagdeep Singh (Founder, Chairman, & CEO of QuantumScape)

      • Mario Schlosser (Founder and CEO of Oscar Insurance)

  • Khosla Ventures Acquisition Co II (KVSB)

    • $400M, no warrants

  • Khosla Ventures Acquisition Co III (KVSC)

    • $500M, no warrants

5) Lerer Hippeau Acquisition Corp (LHAA)

  • $200M, 1/2 warrant

  • Focus: Tech

  • Chairman:

    • Kenneth Lerer (Co-founder of The Huffington Post, Chairman of BLADE Urban Air Mobility, Director of Group Nine Media, Former Chairman of BuzzFeed, Former Director of Viacom)

  • CEO:

    • Eric Hippeau (Former CEO of The Huffington Post, Former Managing Partner at SoftBank Capital, Director of BuzzFeed and Marriott International, and Former Director of Yahoo!)

  • President:

    • Ben Lerer (CEO of Group Nine Media— parent of NowThis, The Dodo, and Thrillist, Founder and Former CEO of Thrillist, Director of Casper Sleep)

  • Director:

    • Arianna Huffington (Founder of The Huffington Post, Former Director of Uber)

6) Levere Holdings Corp (LVRA)

  • $250M, 1/3 warrant

  • Focus: Europe, the Middle East, and Africa

  • Chairman & CEO:

    • Martin Varsavsky (Founder of Viatel, Jazztel)

  • CFO & CIO:

    • Stefan Krause (Founder of Canoo, President & COO of Fisker, Inc., and Former CFO of Deutsche Bank)

  • Director:

    • Bodo Uebber (Former CFO of Daimler, Former Chairman of Airbus, Supervisory Board Member of Adidas)

7) Virgin Group Acquisition Corp. II (Ticker not available)

  • $330M, 1/5 warrant

  • Focus: Consumer

  • Founder

    • Sir Richard Branson (Founder of the Virgin Group)

  • CEO

    • Josh Bayliss (CEO of the Virgin Group)

Other notable sequel SPACs filed today:

8) Reinvent Technology Partners Y (RTPY)

  • $850M, 1/8 warrant

  • Reid Hoffman and Mark Pincus’ 3rd SPAC

  • Reinvent Technology Partners (RTP) is said to be nearing a deal with Joby Aviation, according to the Financial Times in a report published yesterday. RTP closed the day at $14.49

9) Landcadia Holdings IV, Inc. (LCA)

  • $500M, 1/4 warrant

  • Focus: Consumer, Dining, Hospitality, Entertainment and Gaming

  • Tilman Fertitta’s 4th SPAC

  • Landcadia Holdings III merged with Fertitta’s Golden Nugget Online Gaming (GNOG) in December of last year. GNOG closed the day at $18.32

10) Oaktree Acquisition Corp. III (OACC)

  • $325M, 1/5 warrant

  • Focus: Industrial and Consumer

  • Oaktree Acquisition Corp I merged with Hims & Hers Health, Inc. (HIMS) in January. HIMS closed the day at $22.46

11) Graf Acquisition Corp. II (GTOO)

  • $225M, 1/3 warrant

  • Graf Acquisition Corp. I merged with Velodyne Lidar (VLDR) last September, kicking off the lidar SPAC wave. VLDR closed the day at $23.22

12) Decarbonization Plus Acquisition Corp III (DCRC)

  • $350M, 1/3 warrant

  • Focus: Decarbonization

  • Decarbonization Plus Acquisition Corp I (DCRB) announced a merger deal last week with Hyzon Motors, a hydrogen fuel cell truck company. DCRB closed the day at $15.58

SPACs Leaving the Nest:

  • Longview Acquisition Corp (LGVW) shareholders approved its business combination with Butterfly Network. The company will trade as BFLY after the merger.

Upcoming Dates:

Tuesday, 2/16:

  • CF Acquisition Corp. IV (CFIV) units available to separate into common stock and warrants

Wednesday, 2/17:

  • Crescent Acquisition Corp (CRSA) Shareholder Meeting to Extend Deadline for Business Combination

  • **Newborn Acquisition Corp (NBAC) Shareholder Meeting to Extend Deadline for Business Combination**this previously noted that 2/18 was NBAC’s business combination meeting. This has been fixed to be the deadline extension shareholder meeting on 2/17 (7 pm EST). Tuesday, 3/16 is NBAC’s shareholder meeting to approve its business combination with Nuvve.

Thank you for reading.

Thanks,

SPAC Track