The Nightcap from SPAC Track

The Nightcap newsletter: SPAC Track’s nightly recap of the action in the SPAC world. (December 10, 2021)

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The Stats:

The Deals (2):

1) CC Neuberger Principal Holdings II (PRPB: warrants +20%) & Getty Images

Merger Partner Description:

Getty Images is a preeminent global visual content creator and marketplace that offers a full range of content solutions to meet the needs of any customer around the globe, no matter their size. Through its Getty Images, iStock and Unsplash brands, websites and APIs, Getty Images serves over 1 million customers in almost every country in the world and is the first-place people turn to discover, purchase and share powerful visual content from the world’s best photographers and videographers. Getty Images works with over 450,000 contributors and more than 300 content partners to deliver this powerful and comprehensive content. Each year Getty Images covers more than 160,000 news, sport and entertainment events providing depth and breadth of coverage that is unmatched. Getty Images maintains one of the largest and best privately-owned photographic archives in the world with over 135 million images dating back to the beginning of photography.

  • Valuation: $4.8B EV

  • PIPE & Additional Financing: $150M PIPE ($100M from the sponsor and $50M from the Getty family), $200M FPA and $300M backstop from the sponsor

  • Press Release

  • Investor Presentation

2) North Mountain Merger Corp. (NMMC: warrants +5.50%) & Corcentric

Merger Partner Description:

Corcentric is a leading provider of payments, accounts payable, and accounts receivable technology to enterprise and middle-market companies. Corcentric delivers software, advisory services, and payments focused on reducing costs, optimizing working capital, and unlocking revenue.

Merger Votes/ Completions:

  • FAST Acquisition Corp. (FST) and Fertitta Entertainment mutually agree to terminate their merger and have reached a settlement in which Fertitta will pay up to $33M, with part of that contingent on if FST completes a business combination or not. FST plans to continue the search for a new target

  • Yucaipa Acquisition Corporation (YAC) announces that the merger with SIGNA Sports United is on track to close on 12/14 with all conditions being met. YAC will change ticker to SSU following the closing

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

S-1s that went effective today:

  • Redbox Entertainment (RDBX: $10.35 -1.90%)

S-1 filings:

*When applicable

New S-1s (2):

  • $80M, 1/2 Warrant, 1 Right (1/10th of a share)

  • Focus: Marine leisure, marine infrastructure & engineering, travel and tourism, Logistics and supply chain, Offshore energy

  • $50M, 1 Right (1/10th of a share)

  • Focus: Fintech

Upcoming Dates:

Upcoming Announced Shareholder Meetings, Unit Splits, Warrant Redemptions, Earnings, and Expected Ticker Changes

See the full calendar here.

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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.