The Nightcap

Nightly recap of all the day's SPAC highlights (Feb 8th, 2021)

February 8th, 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:

The Morning Deals

1) Tortoise Acquisition Corp II (SNPR) & Volta Industries, a electric vehicle charging network with 1,602 stations across the US.

  • $1.42B Pro-forma equity value

  • $300M PIPE including an investment from funds and accounts managed by BlackRock

2) Gores Holdings VI & Matterport, maker of a 3D virtual property tour software platform.

  • $2.26B EV

  • $295M PIPE

3) Arya Sciences Acquisition Corp III (ARYA) & Nautilus Biotechnology, developer of “a single-molecule protein analysis platform for quantifying the human proteome”.

  • $905M EV

  • $200M PIPE

The Afternoon Deal

4) GreenVision Acquisition Corp (GRNV) & Helbiz, "a technology company that offers micro-mobility solutions", including e-scooters and e-mopeds.

  • $320.5M EV

  • $30M PIPE

Deal News Reports:

1) NextGen Acquisition Corp (NGAC) is in talks with Xos Trucks, an electric truck maker (formerly Thor Trucks), at a valuation around $2 billion, according to Reuters.

Today’s Notable IPO’s:

1) Spartan Acquisition Corp. III (SPAQ.U) — will trade tomorrow

  • $400M, 1/4 warrant

  • Affiliate of Apollo

  • Focus: Energy Transition, Sustainability

  • Spartan Energy Acquisition Corp I (also SPAQ) completed a merger with Fisker Inc. (FSR), electric vehicle maker, last October. FSR closed the day at $14.93

  • Spartan Acquisition II (SPRQ) announced their merger with Sunlight Financial, a residential solar panel financing company, on January 25th. SPRQ closed the day at $12.76

2) GigCapital4, Inc. (GIGG.U) — will trade tomorrow

  • $312M, 1/3 warrant

  • Focus: TMT, Sustainability

  • The sponsor’s two most recent SPACs announced deals a couple of months ago:

    • GigCapital2 (GIX) — announced merger with UpHealth and Cloudbreak Health on 11/23 of last year. GIX closed today at $12.74

    • GigCapital3 (GIK) — announced merger with Lightning eMotors on 12/10 of last year. GIK closed today at $18.24

3) Pivotal Investment Corp. III (PICC.U) — will trade tomorrow

  • $240M, 1/5 warrant

  • Focus: “industries ripe for disruption from continuously evolving digital technology and the resulting shift in distribution patterns and consumer purchase behavior”.

  • Chairman: Jonathan Ledecky (Serial sponsor with 3 completed SPAC mergers and Co-owner of the New York Islanders)

  • The sponsor’s previous SPAC, Pivotal Investment II closed its merger with XL Fleet (XL) in December of last year. XL closed the day at $20.40 

Upcoming Dates:

Tomorrow’s Shareholder Meetings:

  • INSU Acquisition Corp. II (INAQ) Shareholder Meeting to Approve Business Combination with Metromile

  • Panacea Acquisition (PANA) Shareholder Meeting to Approve Business Combination with Nuvation Bio

  • Mountain Crest Acquisition Corp (MCAC) Shareholder Meeting to Approve Business Combination with Playboy

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

  • Big Cypress Acquisition Corp (BCYP), Blue Water Acquisition Corp (BLUW)

Visuals are tight:

Update to the SPAC Sponsor Leaderboard below — this only takes quantity of SPACs into consideration.

Thank you for reading.

Thanks,

SPAC Track