CCIV Rises Ahead of Lucid Vote, Reminds to Vote

CCIV shares rose +9.4% two days ahead of its merger vote. Tailwind (TWND) rose after adjourning its meeting until July 30th.
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The wild SPAC rollercoaster that is the Churchill Capital IV (CCIV) / Lucid Motors is finally nearing the end. The next, and nearly final step, towards closing the business combination is the shareholder vote on July 22. However, and perhaps due to the large retail presence in the stock, CCIV sent out a reminder today telling shareholders to vote their shares if they owned them as of the June 21 record date. 

CCIV has been a wild ride for SPAC investors

CCIV has been a wild ride for SPAC investors

This has turned into a fairly regular action in many SPAC mergers, likely due to the fact that 1) retail investors tend to be shorter term holders than many institutional buyers and 2) may not even realize that they should be voting as of the record date. Alas, with CCIV trading in the mid $20s, don't expect anything crazy and it's likely that CCIV will reach the quorum it needs. 

However, Tailwind Acquisition (TWND) adjourned its proposed vote today for another 10 days, perhaps they didn't reach a voting quorum. TWND shores rose +13.56% to $9.88 today - still well below NAV. 

Property Solutions Acquisition (PSAC) approved its merger with Faraday Future, and received de minimis redemptions. 

Revolution Acceleration Acquisition (RAAC) approved its merger with Berkshire Grey, no mention of redemptions yet, though expect a fair amount with RAAC at $8.93.

Ascendant Digital Acquisition Corp. (ACND)  approved its business combination with MarketWise, also waiting on redemptions. 

Upcoming Votes:

Jul 21 | $ 11.39 | THCB - Tuscan Holdings Corp. --> Microvast, Inc.
Jul 21 | $ 9.91 | VCVC - 10X Capital Venture Acquisition Corp --> REE Automotive Ltd.
Jul 21 | $ 12.29 | CMLF - CM Life Sciences Inc --> Sema4
Jul 22 | $ 24.28 | CCIV - Churchill Capital Corp IV --> Lucid Motors

Today's Price Action

Biggest Gainers

13.56% ~ $ 9.88 | TWND - Tailwind Acquisition Corp (Announced)
9.37% ~ $ 24.28 | CCIV - Churchill Capital Corp IV (Announced)
3.12% ~ $ 8.93 | RAAC - Revolution Acceleration Acquisition Corp (Announced)
2.93% ~ $ 12.29 | CMLF - CM Life Sciences Inc (Announced)
2.86% ~ $ 10.79 | BOWX - BowX Acquisition Corp (Announced)
2.33% ~ $ 17.15 | RICE - Rice Acquisition Corp. (Announced)
2.15% ~ $ 9.99 | DYNS - Dynamics Special Purpose Corp. (Pre-Deal)
1.86% ~ $ 10.94 | MUDS - Mudrick Capital Acquisition Corporation II (Announced)
1.55% ~ $ 9.81 | VELO - Velocity Acquisition Corp (Announced)
1.54% ~ $ 13.83 | PSAC - Property Solutions Acquisition Corp (Announced)
1.47% ~ $ 11.27 | TDAC - Trident Acquisitions Corp (Announced)
1.42% ~ $ 9.99 | EUCR - Eucrates Biomedical Acquisition Corp (Pre-Deal)
1.24% ~ $ 9.77 | TSPQ - TCW Special Purpose Acquisition Corp (Pre-Deal)
1.21% ~ $ 13.41 | GHVI - Gores Holdings VI Inc (Announced)
1.12% ~ $ 9.90 | EPWR - Empowerment & Inclusion Capital I Corp (Pre-Deal)
1.03% ~ $ 9.77 | SDAC - Sustainable Development Acquisition I Corp. (Pre-Deal)
1.02% ~ $ 9.95 | FORE - Foresight Acquisition Corp. (Announced)
.96% ~ $ 10.57 | FTCV - FinTech Acquisition Corp. V (Announced)
.93% ~ $ 9.77 | AEAC - Authentic Equity Acquisition Corp. (Pre-Deal)
.92% ~ $ 9.83 | NAAC - North Atlantic Acquisition Corporation (Pre-Deal)

Biggest Losers

-4.31% ~ $ 10.43 | SRAC - Stable Road Acquisition Corp. (Announced)
-3.05% ~ $ 9.84 | PSPC - Post Holdings Partnering Corporation (Pre-Deal)
-3.00% ~ $ 9.70 | GGMC - Glenfarne Merger Corp. (Pre-Deal)
-2.51% ~ $ 9.70 | ORIA - Orion Biotech Opportunities Corp. (Pre-Deal)
-2.51% ~ $ 9.70 | EGGF - EG Acquisition Corp. (Pre-Deal)
-2.51% ~ $ 10.50 | BCTG - BCTG Acquisition Corp. (Announced)
-1.94% ~ $ 9.61 | ARTA - Artisan Acquisition Corp. (Pre-Deal)
-1.68% ~ $ 9.63 | VLAT - Valor Latitude Acquisition Corp. (Pre-Deal)
-1.62% ~ $ 9.71 | AMPI - Advanced Merger Partners, Inc. (Pre-Deal)
-1.50% ~ $ 12.50 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
-1.13% ~ $ 9.97 | TPGS - TPG Pace Solutions Corp. (Pre-Deal)
-1.12% ~ $ 9.71 | ADER - 26 Capital Acquisition Corp (Pre-Deal)
-1.03% ~ $ 10.60 | VACQ - Vector Acquisition Corp (Announced)
-1.00% ~ $ 9.93 | DKDCA - Data Knights Acquisition Corp. (Pre-Deal)
-.96% ~ $ 10.30 | NHIC - NewHold Investment Corporation (Announced)
-.94% ~ $ 10.37 | BLSA - BCLS Acquisition Corp. (Pre-Deal)
-.93% ~ $ 9.63 | DHBC - DHB Capital Corp. (Pre-Deal)
-.84% ~ $ 10.57 | PDAC - Peridot Acquisition Corp (Announced)
-.82% ~ $ 9.62 | LVRA - Levere Holdings Corp (Pre-Deal)
-.80% ~ $ 9.97 | FGNA - FG New America Acquisition Corp (Announced)

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