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SRNG, ACIC, and PACE All Approved. High Redemptions Continue

Don't expect a break in trend any time soon. SPACs that go into votes below $10 are going to see high redemptions.

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All three SPACs that went to vote today -- SRNG, ACIC, PACE -- passed and are set to officially deSPAC. ACIC saw 48.5% of shareholders redeem leaving it with $857.6M in gross proceeds, but the bulk was from its $600M PIPE. 

Today's SPAC Votes & Closing Prices

Sep 14 | $ 9.87 | SRNG - Soaring Eagle Acquisition Corp. --> Ginkgo
Sep 14 | $ 10.19 | ACIC - Atlas Crest Investment Corp --> Archer Aviation
Sep 14 | $ 10.10 | PACE - TPG Pace Tech Opportunities Corp --> Nerdy Inc.

** Don't miss this podcast episode: Are Niccolo de Masi and dMY the Real SPAC Kings?

Here's a look at upcoming votes:

Sep 15 | $ 9.81 | DEH - D8 Holdings Corp. --> Vicarious Surgical Inc.
Sep 15 | $ 10.05 | ROT - Rotor Acquisition Corp --> SARCOS CORP.
Sep 16 | $ 9.93 | CTAC - Cerberus Telecom Acquisition Corp --> Kore
Sep 21 | $ 9.97 | FUSE - Fusion Acquisition Corp. --> MoneyLion Inc.
Sep 22 | $ 10.16 | LATN - Union Acquisition Corp. II --> Procaps Group
Sep 28 | $ 9.97 | MAAC - Montes Archimedes Acquisition Corp --> Roivant Sciences
Sep 28 | $ 10.00 | STPC - Star Peak Corp II --> Benson Hill, Inc.
Sep 28 | $ 10.00 | DMYI - dMY Technology Group Inc III --> ionQ, Inc.
Sep 28 | $ 9.97 | CAHC - CA Healthcare Acquisition Corp. --> LumiraDx Ltd
Sep 28 | $ 9.96 | PTK - PTK Acquisition Corp. --> Valens Semiconductor
Sep 28 | $ 10.08 | GLEO - Galileo Acquisition Corp. --> Shapeways, Inc.
Oct 05 | $ 10.07 | ITAC - Industrial Tech Acquisitions Inc --> Arbe Robotics Ltd

Recent SPAC Deal Announcements

SPACs with announced deals continue to trade well below NAV for the most part. It will take a significant change in the market's dynamics before we see a broad change. Watch for redemptions for these deals to continue at elevated levels and the PIPEs to be the primary source of go-forward capital for the newly merged companies.

Sep 13 | $ 9.88 | MOTV - Motive Capital Corp --> Forge Global, Inc.
Sep 10 | $ 9.89 | GPCO - Golden Path Acquisition Corporation --> MC Hologram Inc.
Sep 09 | $ 9.89 | NXU - Novus Capital Corporation II --> Energy Vault
Sep 09 | $ 9.87 | HTPA - Highland Transcend Partners I Corp --> Packable
Aug 30 | $ 10.06 | PAIC - Petra Acquisition Inc --> Revelation Biosciences, Inc
Aug 26 | $ 9.87 | OPA - Magnum Opus Acquisition Limited --> Forbes Global Media Holdings Inc
Aug 25 | $ 10.05 | ACBA - Ace Global Business Acquisition Limited --> DDC Enterprise Limited
Aug 23 | $ 9.89 | NGCA - NextGen Acquisition Corp. II --> Virgin Orbit
Aug 18 | $ 9.88 | IPVF - InterPrivate III Financial Partners Inc. --> Aspiration Partners
Aug 18 | $ 10.09 | ADF - Aldel Financial Inc. --> Hagerty
Aug 16 | $ 9.78 | SLCR - Silver Crest Acquisition Corporation --> Tim Hortons China
Aug 16 | $ 9.87 | MBAC - M3-Brigade Acquisition II Corp --> Syniverse Corp
Aug 13 | $ 9.84 | MTAC - MedTech Acquisition Corporation --> Memic Innovative Surgery Ltd.
Aug 12 | $ 9.85 | FRSG - First Reserve Sustainable Growth Corp --> EO Charging
Aug 11 | $ 9.89 | EUSG - European Sustainable Growth Acquisition Corp. --> ADS-TEC Energy GmbH

Today's SPAC Stock Movers

Biggest SPAC Stock Gainers
7.87% ~ $ 9.87 | SRNG - Soaring Eagle Acquisition Corp. (Announced)
6.48% ~ $ 10.19 | ACIC - Atlas Crest Investment Corp (Announced)
1.71% ~ $ 9.83 | DILA - Dila Capital Acquisition Corp (Pre-Deal)
1.68% ~ $ 10.31 | VIH - VPC Impact Acquisition Holdings (Announced)
1.56% ~ $ 9.75 | ORIA - Orion Biotech Opportunities Corp. (Pre-Deal)
1.13% ~ $ 9.84 | ATAQ - Altimar Acquisition Corp. III (Pre-Deal)
.95% ~ $ 11.73 | TDAC - Trident Acquisitions Corp (Announced)
.93% ~ $ 9.80 | CLAA - Colonnade Acquisition Corp. II (Pre-Deal)
.90% ~ $ 10.10 | PACE - TPG Pace Tech Opportunities Corp (Announced)
.77% ~ $ 9.78 | LEGA - Lead Edge Growth Opportunities, Ltd (Pre-Deal)
.73% ~ $ 9.65 | THCP - Thunder Bridge Capital Partners IV, Inc. (Pre-Deal)
.72% ~ $ 9.74 | GAMC - Golden Arrow Merger Corp. (Pre-Deal)
.72% ~ $ 9.78 | ROSS - Ross Acquisition Corp II (Pre-Deal)
.72% ~ $ 9.80 | ISLE - Isleworth Healthcare Acquisition Corp. (Pre-Deal)
.62% ~ $ 9.71 | OHPA - Orion Acquisition Corp. (Pre-Deal)
.62% ~ $ 9.73 | SPTK - SportsTek Acquisition Corp. (Pre-Deal)
.62% ~ $ 9.78 | PPGH - Poema Global Holdings Corp. (Pre-Deal)
.62% ~ $ 9.79 | STRE - Supernova Partners Acquisition Company III, Ltd (Pre-Deal)
.62% ~ $ 9.80 | SNII - Supernova Partners Acquisition Company II, Ltd. (Pre-Deal)
.61% ~ $ 9.83 | ALCC - AltC Acquisition Corp. (Pre-Deal)

Biggest SPAC Stock Losers
-5.11% ~ $ 11.14 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
-3.40% ~ $ 10.23 | AGC - Altimeter Growth Corp. (Announced)
-1.62% ~ $ 11.51 | LEGO - LEGATO MERGER CORP. (Announced)
-1.54% ~ $ 10.26 | KVSB - Khosla Ventures Acquisition Co. II (Announced)
-1.35% ~ $ 12.45 | FST - FAST ACQ CP (Announced)
-1.20% ~ $ 9.87 | GGPI - Gores Guggenheim, Inc (Pre-Deal)
-1.15% ~ $ 10.27 | FTCV - FinTech Acquisition Corp. V (Announced)
-1.01% ~ $ 9.81 | DEH - D8 Holdings Corp. (Announced)
-1.01% ~ $ 9.83 | BSGA - Blue Safari Group Acquisition Corp (Pre-Deal)
-.82% ~ $ 9.69 | MACC - Mission Advancement Corp. (Pre-Deal)
-.72% ~ $ 9.69 | GPAC - Global Partner Acquisition Corp II (Pre-Deal)
-.71% ~ $ 9.75 | LAAA - Lakeshore Acquisition I Corp. (Pre-Deal)
-.71% ~ $ 9.82 | JUGG - Jaws Juggernaut Acquisition Corporation (Pre-Deal)
-.69% ~ $ 10.05 | IPOD - Social Capital Hedosophia Holdings Corp IV (Pre-Deal)
-.60% ~ $ 9.89 | GPCO - Golden Path Acquisition Corporation (Announced)
-.60% ~ $ 9.97 | LSAQ - LIFE SCI ACQ II (Announced)
-.59% ~ $ 9.90 | IIAC - Investindustrial Acquisition Corp. (Announced)
-.59% ~ $ 10.19 | CND - Concord Acquisition Corp (Announced)
-.52% ~ $ 9.64 | MITA - Coliseum Acquisition Corp. (Pre-Deal)
-.51% ~ $ 9.70 | FACT - Freedom Acquisition I Corp (Pre-Deal)

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(Disclaimers: this is not investment advice. The author may be long one or more stocks mentioned in this report.)

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