The Nightcap

Nightly recap of all the day's SPAC highlights (March 2nd, 2021)

March 2nd, 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:

1) Ascendant Digital Acquisition (ACND) & Beacon Street Group, a multi-brand financial research subscription platform.

  • $3.02B EV

  • $150M PIPE

2) Capitol Investment Corp. V (CAP) & Doma (formerly: States Title), a "machine intelligence technology platform for residential real estate".

  • $3.03B EV

  • $300M PIPE including investments from funds and accounts managed by BlackRock, The Gores Group, Hedosophia, SB Management (a subsidiary of SoftBank Group), and Spencer Rascoff

Deal News Reports:

1) Horizon Acquisition Corp. II (HZON) is in talks to merge with Sportradar, a provider of sports data to the gambling industry and media companies, according to Bloomberg.

2) Vistas Media Acquisition Company Inc. (VMAC) is nearing a merger deal with Middle East music streaming service, Anghami, at a valuation of around $300M, according to Bloomberg.

Notable IPO’s to begin trading tomorrow:

1) Roth CH Acquisition III Co. (ROCR.U)

  • $100M, 1/4 warrant

  • Focus: Business Services, Consumer, Healthcare, Tech, Wellness or Sustainability

  • Chairman & Co-CEO: Byron Roth (Chairman & CEO of Roth Capital Partners)

  • Sponsor’s Previous SPAC to Announce a Deal: Roth CH Acquisition I Co (ROCH) announced a merger deal with PureCycle Technologies in November of last year. ROCH closed the day at $25.99.

Notable S-1 Filings:

1) Dragoneer Growth Opportunities Corp. III (DGNU)

  • $400M, no warrants

  • Focus: Software, Internet, Media, Consumer/Retail, Healthcare IT and Financial services/Fintech

  • Chairman: Marc Stad (Founder, CEO, CIO, & Managing Partner of Dragoneer Investment Group)

  • Director: Sarah Friar (CEO of Nextdoor, Former CFO of Square, Director of Walmart & Slack Technologies)

  • Sponsor’s Previous SPAC to Announce a Deal: Dragoneer Growth Opportunities Corp. (DGNR) announced a merger deal with CCC Information Services last month. DGNR closed the day at $10.79.

2) two (ATWO)

  • $200M, 1/4 warrant

  • Focus: Tech

  • Co-Founder & Co-CEO: Kevin Hartz (Co-Founder, Chairman, & Former CEO of Eventbrite, and Co-founder & Former CEO of Xoom)

  • Co-Founder & Co-CEO: Gautam Gupta (Former CFO & COO of Opendoor.com)

  • Chairman: Pierre Lamond (Former General Partner at Sequoia Capital, Former Chairman of Cypress Semiconductor, and Former General Partner at Khosla Ventures)

  • Sponsor’s Previous SPAC to Announce a Deal: one (AONE) announced a merger deal with Markforged last week. AONE closed the day at $12.64.

3), 4), and 5) Atlas Crest Investment Corp. III (ACCC), IV (ACIV), and V (ACCV)

  • ACCC: $600M, 1/4 warrant

  • ACIV: $400M, 1/4 warrant

  • ACCV: $200M, 1/4 warrant

  • Focus: Media, Fintech/payments, Software, Tech, Online gaming/sports betting, Healthcare, Consumer

  • Chairman: Ken Moelis (Chairman & CEO of Moelis & Co)

  • Sponsor’s Previous SPAC to Announce a Deal: Atlas Crest Investment Corp. (ACIC) announced a merger deal with Archer Aviation last month. ACIC closed the day at $12.36.

6) Accelerate Acquisition Corp. (AAQC)

  • $400M, 1/3 warrant

  • Focus: Industrial, Transportation, Consumer, Retail

  • Directors:

  • Chairman & CEO: Bob Nardelli (Former Chairman & CEO of The Home Depot and Former Chairman & CEO of Chrysler)

  • Directors:

    • Mark Little (Former CTO of GE)

    • Mark Weinberger (Former Global Chairman & CEO of Ernst & Young, Director of Metlife, Johnson & Johnson, and Saudi Aramco)

    • Dr. John Kelly III (Former SVP of Cognitive Solutions at IBM: oversaw IBM’s software business and Watson)

  • Advisor: Lloyd Trotter (Former Vice Chairman of GE, Former CEO of GE Industrial, and Former Director of PepsiCo & Daimler A.G.)

7) Acamar Partners Acquisition Corp. II (ACAM)

  • $350M, 1/4 warrant

  • Focus: Consumer, Retail

  • Directors:

    • Domenico De Sole (Co-founder & Chairman of Tom Ford and Former CEO of Gucci Group)

    • James Skinner (Former Vice Chairman, COO & CFO of Neiman Marcus Group)

  • Sponsor’s Previous SPAC to Announce a Deal: Acamar Partners Acquisition Corp (ACAM) merged with CarLotz (LOTZ) in January. LOTZ closed the day at $9.91.

8) Do It Again Corp. (DOIT)

  • $125M, 1/3 warrant

  • Focus: Restaurant, food-related, and franchise

  • Chairman & CEO: Clifford Hudson (Former Chairman & CEO of Sonic Corp)

  • Directors:

    • Sid Feltenstein (Former CMO of Dunkin’ Donuts, Founder of Sagittarius Brands, and Director of Captain D’s, Fazioli’s, Hooters, The Honey Baked Ham Company, Newk’s Eatery, and TGI Friday’s)

    • Kate Lavelle (Former CFO of Dunkin’ Brands)

9) Iron Spark I Inc. (ISAA)

  • $175M, 1/2 warrant

  • Focus: Branded Consumer

  • Chairperson: Amy Butte (Former CFO of the New York Stock Exchange)

  • CFO & COO: Alexander Oxman (Co-founder & Former Chairman & CEO of Winc Wines)

  • Directors:

    • Trevor Edwards (Former President of NIKE)

    • Jay Margolis (Former COO of Reebok International and Former Director of Boston Beer, Godiva Chocolatier, and Burlington Coat)

  • Advisors:

    • Tony Hawk (Professional skateboarder and Owner of Birdhouse skateboard company)

    • Musa Tariq (CMO of GoFundMe)

Upcoming Dates:

This Week’s Shareholder Meetings:

Friday, 3/5:

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

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

Wednesday, 3/3

  • Adit EdTech Acquisition Corp. (ADEX)

  • Powered Brands (POWR)

Friday, 3/5

  • Deep Lake Capital Acquisition Corp. (DLCA), Fortress Capital Acquisition Corp. (FCAX)

Thank you for reading.

Thanks,

SPAC Track