The Nightcap from SPAC Track

The Nightcap newsletter: SPAC Track’s nightly recap of the action in the SPAC world. (December 17, 2021)

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The Stats:

The Deals:

1) Cleantech Acquisition Corp. (CLAQ: warrants +5.41%) & Nauticus Robotics

Merger Partner Description:

Nauticus, is a Houston-based developer of cloud-based subsea robots, software, and services delivered in a modern business model to the ocean industry. Nauticus’ robotic systems will be delivered to commercial and government-facing customers primarily through a Robotics as a Service (RaaS) business model but also include direct product sales. This modernized approach to ocean robotics as a service has resulted in the development of a range of products for retrofit/upgrading legacy systems and other vehicle platforms. Nauticus’ services provide customers the necessary data collection, analytics, and subsea manipulation capabilities to support and maintain assets while significantly reducing their operational footprint, operating cost, and greenhouse gas emissions, to improve offshore health, safety, and environmental exposure.

  • Valuation: $377M EV

  • PIPE & Additional Financing: $35M common and $38M convert including investments from Schlumberger, Transocea, AeroVironment, and Material Impact

  • Press Release

  • Investor Presentation

2) Armada Acquisition Corp. I (AACI: warrants +10.23%) & Rezolve

Merger Partner Description:

Rezolve is taking retailing into a new era of customer engagement with a proprietary mobile engagement platform. The Rezolve Platform is a powerful set of mobile commerce and engagement capabilities that provide mobile application vendors with a range of valuable commercial opportunities that can be realized without having to develop code, host operations or manage security. The Rezolve Inside SDK allows mobile application vendors to quickly deliver innovation for their consumers into existing or new mobile apps. Rezolve was founded in 2016, is headquartered in London, UK and has offices in China, India, Taiwan, Germany, Spain and Mexico.

Merger Votes/ Completions:

  • Investindustrial Acquisition Corp. (IIAC) completed its merger with Ermenegildo Zegna N.V. Will trade as ZGN starting on Monday, the 20th

    • The transaction raised appx $761M after an estimated ~58% of public shares were redeemed

  • Merger Vote Set:

    • Vistas Media Acquisition Company (VMAC) & Anghami: 1/19/21

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

S-1s that went effective today:

  • BlackSky Technology (BKSY: $5.72 -18.75%)

S-1 filings:

*When applicable

Quick News:

New S-1s (1):

  • $200M, 1/2 Warrant

  • Focus: Natural gas value chain in North America

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.