The Nightcap Newsletter from SPAC Track

The Nightcap newsletter: SPAC Track’s nightly recap of the action in the SPAC world. (October 7, 2021)

Discover and track all of the SPACs at spactrack.net.

The Stats:

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The Deals:

1) FirstMark Horizon Acquisition Corp. (FMAC: warrants +11.40%) & Starry

  • Merger Partner Description:

At Starry, we believe the future is built on connectivity and that connecting people and communities to high-speed, broadband internet should be simple and affordable. Using our innovative, next generation licensed fixed wireless technology, Starry is deploying fiber-quality broadband to the home without bundles, data caps, or long-term contracts. Starry is a different kind of internet service provider. We're building a platform for the future by putting our customers first, protecting their privacy, ensuring access to an open and neutral net, and putting the customer experience at the heart of everything we do. Headquartered in Boston and backed by world-class investors, Starry is currently available in Boston, New York, Los Angeles, Washington, DC, Denver, and Columbus, and is expanding nationwide.

  • Valuation: $1.66B EV

  • PIPE: $130M including investments from ArrowMark Partners, Atreides Management, Fidelity Management & Research Company LLC, and Tiger Global Management

  • Press Release

  • Investor Presentation

Merger Votes/ Completions:

  • Science 37 (SNCE: $10.05 +15.12%) completed its merger with LifeSci Acquisition II Corp. (LSAQ) and started trading as SNCE today

    • Science 37 has received ~$235M net proceeds, after an estimated. xx% of public shares were reedemed

  • Industrial Tech Acquisitions, Inc. (ITAC) completed its merger with Arbe Robotics. Ticker change to ARBE set for tomorrow, 10/8

Quick News Corner:

IPOs to Begin Trading Tomorrow:

1) Maxpro Capital Acquisition Corp. Announces Pricing of $90,000,000 Initial Public Offering (JMAC-U)

2) Schultze Special Purpose Acquisition Corp. II Announces Pricing of $150 Million Initial Public Offering (SAMA-U)

*Priced at the time of this writing

Tracking De-SPAC S-1s (including PIPE resale registrations):

S-1s that went effective today:

  • Celebrite (CLBT: $9.94 +7.23%)

S-1s filings:

424B3 filings (meaning S-1 is likely to go effective tomorrow):

New S-1s (3):

  • $50M, 1 Right (1/10th of a share)

  • Focus: North America and Asia Pacific regions (excluding China, Hong Kong and Macau)

  • Leadership: Dr. Suying Liu (Serial SPAC Sponsor — Mountain Crest and Former Director of PLBY Group)

  • $300M, 1/2 Warrant

  • Focus: Transportation, supply chain and logistics

  • Management: Richard N. Peretz (Former CFO of UPS)Ben Baldanza (Former CEO of Spirit Airlines, Director of JetBlue Airways and Six Flags Entertainment)

  • $200M, 1/2 W

  • Focus: General industrials and construction technology

  • Management: Michael Stern (Founder & CEO of JDS Development Group)

Upcoming Dates:

This Week’s Announced Shareholder Meetings, Unit Splits, Warrant Redemptions, and Expected Ticker Changes

See the full calendar here.

Thanks for reading,

SPAC Track

Note: Share prices only included if 5%+ moves and for all De-SPAC PIPE entries
DISCLAIMER: The information provided in this newsletter is for your convenience only and is not intended to be treated as financial, investment, tax, or other advice.