The Nightcap from SPAC Track

The Nightcap newsletter: SPAC Track’s nightly recap of the action in the SPAC world. (December 8, 2021)

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The Stats:

The Deals:

1) Virgin Group Acquisition Corp. II (VGII: warrants -13.93%) & Grove Collaborative

Merger Partner Description:

Launched in 2016 as a Certified B Corp, Grove Collaborative is transforming consumer products into a positive force for human and environmental good. Grove creates and curates high-performing, planet-first products across household cleaning, personal care, laundry, clean beauty, and pet, serving millions of households across the U.S. With a flexible monthly delivery model and access to knowledgeable Grove Guides, Grove makes it easy for people to build sustainable routines. Every item Grove offers, from both brands they craft — like their flagship brand Grove Co., plastic-free, vegan personal care line Peach not Plastic, and clean skincare brand Superbloom — and from exceptional third-party brands, has been thoroughly vetted against strict standards for clean ingredients, efficacy, sustainability, cruelty-free formulas, and ethical supply chain practices. Grove Collaborative, a public benefit corporation, is on a mission to move Beyond Plastic and recently entered physical retail for the first time at Target stores nationwide. Grove is the first plastic neutral retailer in the world and is committed to being 100% plastic-free by 2025.

  • Valuation: $1.51B EV

  • PIPE: $87M including investments from an affiliate of the sponsor, and new and existing Grove investors, including Lone Pine Capital, Sculptor Capital Management, General Atlantic, and Paul Polman

  • Press Release

  • Investor Presentation

Merger Votes/ Completions:

  • CF Acquisition Corp. V (CFV) announces adjournment of its shareholder meeting to vote on its merger with Satellogic to 12/20. The reason provided is "to allow CFV to continue discussions regarding potential additional financing for the post-combination company."

  • Seven Oaks Acquisition Corp (SVOK) completed its merger with Boxed. Ticker change to BOXD set for tomorrow

  • Decarbonization Plus Acquisition Corporation III (DCRC) completed its merger with Solid Power. Ticker change to SLDP set for tomorrow

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

S-1/A filings:

*when applicable

IPOs to begin trading tomorrow*:

1) Integrated Wellness Acquisition Corp Announces Pricing of $100 Million Initial Public Offering (WEL-U)

2) Target Global Acquisition I Corp. Announces Pricing of $200 Million Initial Public Offering (TGAA-U)

3) Jackson Acquisition Company Announces Pricing of $200 Million Initial Public Offering (RJAC-U)

4) Inception Growth Acquisition Limited Announces Pricing of $90,000,000 Initial Public Offering (IGTA-U)

*Priced as of this writing

New S-1s:

None today.

Upcoming Dates:

This Week’s Announced Shareholder Meetings, Unit Splits, Warrant Redemptions, Earnings, 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.