The SPAC Week in Review

The Stats:

The Deals from Last Week (2):

1) Mountain Crest Acquisition Corp. IV (MCAF) & CH-AUTO

• Valuation: $1.25B equity value

• Press Release

2) Fortune Rise Acquisition Corporation (FRLA) & VCV Digital Technology

• Valuation: $294.1M Pro-forma EV

• Press Release

SPAC Track Pro Updates:

New Data Points, Filters, and a new table view have been added to the Pro Screener:

Votes / Actions View: A downloadable table view to quickly access upcoming vote details, trust per share details, discount /premium to trust, & other relevant data points

New Data Points: Disc/prem to trust (Votes/Action View) and Merger Partner Geography (Deal Details View)

New Filters: Warrant Coverage, Upcoming Vote (definitive merger or extension vote scheduled), Merger Partner Geography, Deadline approaching within 1-4 months

Sign up for 20% off the annual subscription with the promo code: ‘NEWSLETTER20’. Expires next week, 5/16.

News from Last Week:

• Facebook Billionaire Eduardo Saverin’s B Capital Abandons SPAC Plans Amid Market Volatility (Forbes)

• Giga Carbon Neutrality, a commercial mobility and clean energy technology company, announced that it has signed an LOI to merge with an unnamed SPAC

• Satellogic (SATL) to launch 68 satellites with SpaceX (SpaceNews)

• Offerpad (OPAD) turns in a $41M profit in the first quarter (RealTrends)

• Better's SPAC deal [Aurora Acquisition Corp. (AURC)] could be in peril as investors raise more red flags in a lawsuit against its embattled CEO Vishal Garg (Business Insider)

Updates from Last Week:

Terminations / Liquidations

• Goldenbridge Acquisition Limited (GBRG) and AgiiPlus mutually agree to terminate the merger

Merger Votes/ Completions

• Spring Valley Acquisition Corp. (SV) announces the closing of the merger with NuScale Power and will begin trading as SMR today, 5/3

  • The transaction raised gross proceeds of $380M

• Merger vote set:

  • Apollo Strategic Growth Capital (APSG) & American Express Global Business Travel (5/25/22)

  • Haymaker Acquisition Corp. III (HYAC) & Biote (5/24/22)

Extensions

• AGBA Acquisition Limited (AGBA) shareholders approved the extension of the deadline from 5/16/22 to 11/16/22

• L&F Acquisition Corp. (LNFA) shareholders approved the extension of the deadline from 5/3/22 to 8/24/22

  • 13,824,311 shares were redeemed or an estimated ~79% of the public SPAC shares

• Maquia Capital Acquisition Corporation (MAQC) announces it intends to extend its deadline from 5/7/22 to 8/7/22 by depositing $0.10 per public SPAC share into the trust

• Data Knights Acquisition Corp. (DKDCA) announced it extended its deadline from 5/11/22 to 8/11/22 by depositing $0.10 per share into trust

Other Deal Updates

• Dune Acquisition Corporation (DUNE) announces that its Board of Directors unanimously recommends that Dune’s stockholders vote against the merger when the vote occurs

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

S-1 Filings:

• LumiraDx (LMDX) (F-1)

• Gogoro (GGR) (F-1)

• Comera Life Sciences / OTR Acquisition Corp. (OTRA)

S-1 Effective:

• BRC (Black Rifle Coffee) (BRCC)

• Sky Harbour (SKYH)

*When applicable

S-4 Activity:

S-4 filings:

• Iron Spark I Inc. (ISAA) & Hypebeast (F-4)

S-4 Effective:

• Lionheart Acquisition Corp. II (LCAP) & MSP Recovery

• Apollo Strategic Growth Capital (APSG) & American Express Global Business Travel

Upcoming Dates:

Upcoming Announced Shareholder Meetings, Unit Splits, Warrant Redemptions

See the full calendar here.

Thanks for reading,

SPAC Track

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