The Nightcap

Nightly recap of the day's SPAC highlights (March 18th, 2021)

March 18th, 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) Supernova Partners Acquisition Company (SPNV) & Offerpad, an online residential real estate platform.

  • $2.37B EV

  • $200M PIPE including investments from funds and accounts managed by BlackRock

  • $50M investment by affiliates of Supernova, led by Spencer Rascoff (Co-founder & Former CEO of Zillow)

2) Industrial Tech Acquisitions, Inc. (ITAC) enters into a definitive agreement with Arbe Robotics, a 4D imaging radar technology company.

  • $572M EV

  • $100M PIPE

Deal News Reports:

  • Horizon Acquisition Corp (HZAC) is in talks to merge with Vivid Seats, an online ticketing marketplace that competes with StubHub, at a potential valuation of $2.5B, according to Bloomberg.

Notable IPO’s to begin trading tomorrow:

1) Levere Holdings Corp (LVRA.U)

  • $250M, 1/3 warrant

  • Focus: Mobility in Europe, the Middle East, and Africa

  • Officers:

    • Martin Varsavsky (Founder of Viatel and Jazztel)

    • Stefan Krause (Founder of Canoo and Former CFO of Deutsche Bank)

  • Directors:

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

2) LDH Growth Corp I (LDHA.U)

  • $200M, 1/5 warrant

  • Sponsor: SoftBank Group

  • Focus: Tech, Latin America

  • Officers:

    • Marcelo Claure (President and COO of SoftBank Group, Chairman of Fortress Investment Group, Executive Chairman of WeWork, Former CEO of Sprint, and Founder & Former CEO of Brightstar)

    • Michael Combes (President of SoftBank Group International, Former CEO of Sprint, and Former CEO of Alcatel-Lucent)

Notable S-1 Filings:

1) Good Works II Acquisition Corp. (GWII)

  • $200M, 1/3 Warrant

  • Focus: High-growth companies affected by COVID-19 and other High-growth tech companies

  • Officers:

    • Fred Zeidman (Chairman of the Gordian Group)

    • Douglas Wurth (Former CEO of Alternative Investments for J.P. Morgan)

2) Quiet Plus I Acquisition Corp. (QPAA)

  • $250M, 1/4 warrant

  • Focus: Tech

  • Officers:

    • Lee Linden (Founder and Managing Partner of Quiet Capital, Co-founder of Tapjoy and Karma Science)

    • Matthew Humphrey (Founder and Managing Partner of Quiet Capital, Co-Founder and Former CEO of LendingHome)

  • Directors:

    • Michael Preysman (Founder and CEO of Everlane)

    • Khozema Shipchandler (CFO of Twilio)

    • Jessica Holscott (Former CFO of HBO)

    • Payal Kadakia (Founder and Executive Chairman of ClassPass)

SPACs Leaving the Nest:

  • Longevity Acquisition Corporation (LOAC) shareholders approve the business combination with 4d pharma. LOAC will trade as LBPS upon merger completion.

Upcoming Dates:

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

Friday, March 19th:

  • CIIG Merger Corp (CIIC) Shareholder Meeting to Approve Business Combination with Arrival

  • Unit Splits: Climate Real Impact Solutions II Acquisition Corporation (CLIM), Fortistar Sustainable Solutions Corp. (FSSI), ITHAX Acquisition Corp. (ITHX), Constellation Acquisition Corp I (CSTA)

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Thanks for reading,

SPAC Track