The Nightcap

Nightly recap of the day's SPAC highlights (March 9th, 2021)

March 9th, 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) dMY Technology Group, Inc. III (DMYI) & IonQ, the "first publicly traded pure-play quantum computing company".

  • $1.38B EV

  • $350M PIPE including investments from Silver Lake, Breakthrough Energy Ventures, MSD Partners, L.P., Hyundai Motor Company, and Kia Corporation

  • DMYI closed the day at $10.90 (-14.17%)

2) New Beginnings Acquisition Corp. (NBA) & Airspan Networks, a 5G software and hardware company.

  • $822M EV

  • $75M PIPE including investments from SoftBank Group and Dish Networks

  • NBA closed the day at $10.10 (+0.90%)

3) NewHold Investment Corp (NHIC) & Evolv Technology, an AI-Enabled security screening company backed by Bill Gates, Lux Capital, and General Catalyst.

  • $1.33B EV

  • $300M PIPE including investments from Motorola Solutions, Eldridge, Peyton Manning & Andre Agassi

  • NHIC closed the day at $10.38 (+3.49%)

Deal News Reports:

1) Motion Acquisition Corp (MOTN) is said to have struck a merger deal with Ambulnz, “a provider of mobile medical services & patient transportation”, at a $1.1B valuation, per Bloomberg.

Notable IPO’s to begin trading tomorrow:

1) Peridot Acquisition Corp. II (PDOT.U)

  • $360M, 1/5 warrant

  • Focus: Environmental Sustainability, Industrial (Greenhouse gas reduction)

  • Sponsor’s Previous SPAC to Announce a Deal: Peridot Acquisition Corp. (PDAC) announced a merger deal with Li-Cycle last month. PDAC closed the day at $10.60.

2) and 3) SVF Investment Corp. 2 (SVFB) and 3 (SVFC)

  • Focus: Tech

  • Sponsor: SoftBank Investment Advisers, investment manager to the SoftBank Vision Funds

  • SVFB: $200M, no warrants

  • SVFC: $280M, no warrants

Notable S-1 Filings:

1) Chardan NexTech Acquisition 2 Corp. (CNTQ)

  • $100M, 1/3 warrant

  • Focus: Healthtech, Fintech

  • Chairman: Kerry Propper (Co-founder & Former CEO of Chardan)

  • CFO: Steven Urbach (Co-founder & CEO of Chardan)

  • Sponsor’s Previous SPAC to Announce a Deal: Chardan Healthcare Acquisition (CHAC) merged with BiomX (PHGE) in October of 2019. PHGE closed the day at $6.82.

2) Disruptive Acquisition Corp I (DISA)

  • $250M, 1/3 warrant

  • Focus: Health and wellness, entertainment, and consumer tech

  • Chairman & CEO: Alexander Davis (Founder & CEO of Disruptive and Founding Managing Director of Ten-X)

  • VP, Business Development: Mardy Fish (Former Professional Tennis Player)

  • Directors:

    • Karen Finerman (Co-founder & CEO of Metropolitan Capital Advisors)

    • Galen Smith (CEO of Redbox)

  • “Athlete Advisory Council” Members:

    • Justin Verlander (Professional baseball player)

    • Canelo Alvarez Barragan (Mexican professional boxer)

    • Patrick Mahomes II (Professional football player)

    • Naomi Osaka is (Professional tennis player)

    • Robert Lewandowski (Polish professional soccer player

3) Gefen Landa Acquisition Corp. (GFLD)

  • $250M, 1/3 Warrant

  • Focus: Israeli Tech Companies

  • Co-Executive Chairman: Benny Landa (Founder of Indigo Digital Printing, Chairman & CEO of Landa Labs, Chairman of Landa Ventures, and CTO of Landa Digital Printing)

4) Revolution Acceleration Acquisition Corp II (RAII)

  • $250M, 1/4 warrant

  • Focus: Financial Services, Healthcare, Tech, Consumer and Media

  • CEO & Director: John Delaney (Former member of the U.S. House of Representatives, Co-founder, Former Chairman & CEO of CapitalSource, and Co-founder, Chairman & CEO of HealthCare Financial Partners)

  • Directors:

    • Steve Case (Former Chairman & CEO of AOL and Chairman & CEO of Revolution)

    • Robert Bass (Director of Redfin, Groupon, and Former Vice Chairman of Deloitte)

  • Sponsor’s Previous SPAC to Announce a Deal: Revolution Acceleration Acquisition Corp (RAAC) announced a merger deal with Berkshire Grey last month. RAAC closed the day at $10.56.

5), 6), and 7) TPG Pace Solutions Corp. (TPGS), TPG Pace Tech Opportunities II. Corp. (TPGT), and TPG Pace Beneficial II Corp. (YTPG)

  • Non-Executive Chairman: Karl Peterson (Senior Partner of TPG and Managing Partner of TPG Pace Group)

  • TPGS

    • $250M, no warrants

    • Directors:

      • David Bonderman (Founding Partner of TPG, Director of Allogene Therapeutics, Former Chairman of RyanAir Holdings)

      • Kathleen Philips (Former CFO of Zillow Group)

      • Kneeland Youngblood (Founding Partner of Pharos Capital Group, Former Director of Burger King, Starwood Hotels and Lodging, and Gap Inc.)

  • TPGT

    • $450M, no warrants

    • Focus: Tech

    • President: Greg Mrva (Former CFO of StubHub)

    • Directors:

      • David Bonderman (Founding Partner of TPG, Director of Allogene Therapeutics, Former Chairman of RyanAir Holdings)

      • Kathleen Philips (Former CFO of Zillow Group)

  • YTPG

    • $350M, no warrants

    • Focus: ESG-related

    • Directors:

      • Mark Fields (Former CEO of Ford Motor Company, Former CEO of Mazda, and Former Director of IBM)

      • Kneeland Youngblood (Founding Partner of Pharos Capital Group, Former Director of Burger King, Starwood Hotels and Lodging, and Gap Inc.)

      • Maryanne Hancock (Founding CEO of Y Analytics)

  • Sponsor’s Previous SPAC to Announce a Deal: TPG Pace Tech Opportunities Corp. (PACE) announced a merger deal with Nerdy in late January. PACE closed the day at $10.26.

8) Angel Pond Holdings Corp (Ticker not available yet)

  • $300M, 1/3 warrant

  • Focus: Tech in China (including e-commerce, enterprise software, cloud computing, and fintech)

  • Co-founder: Simon Xie (Co-founder of Alibaba Group)

9) FTAC Zeus Acquisition Corp. (ZING)

  • $440M, 1/4 warrant

  • Focus: Tech, Fintech

  • Chairman: Daniel Cohen (Chairman of Cohen & Company and Chairman of The Bancorp)

  • 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 $10.47.

Upcoming Dates:

This Week’s Shareholder Meetings:

Tuesday, 3/8:

  • Colonnade Acquisition Corp. (CLA) Shareholder Meeting to Approve Business Combination with Ouster

Wednesday, 3/10:

  • GigCapital2, Inc (GIX) Shareholder Meeting to Extend Deadline for Business Combination

Thursday, 3/11:

  • Interprivate Acquisition Corp (IPV) Shareholder Meeting to Approve Business Combination with Aeva

Friday, 3/12:

  • New Providence Acquisition Corp (NPA) Shareholder Meeting to Extend Deadline for Business Combination

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

Tuesday, 3/9

  • CA Healthcare Acquisition Corp. (CAHC)

Wednesday, 3/10

  • European Sustainable Growth Acquisition Corp. (EUSG)

  • Quantum FinTech Acquisition Corporation (QFTA)

Friday, 3/12

  • Monument Circle Acquisition Corp. (MON)

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Thanks for reading,

SPAC Track