Pre-Deal SPACs Dip Lower, CERE Soars Higher

Pre-Deal SPACs can be scooped up for $9.81. Elliott's SPAC IPO is a success, merger votes are everywhere and Cerevel surges higher.
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It's healthy sentiment for the SPAC IPO market right now, and Elliott Opportunity II (EOCW / U) traded up after pricing its new SPAC IPO today, which was upsized to $530M from $500M. 

Elsewhere, today's deals, FS Development Corp II (FSII) / Pardes Bioscience +1.32% and Trebia Acquisition (TREB) / System1 +0.81%, both closed up modestly on their announcements. However, all of the deals announced in the last week are still treading sub NAV. 

Jun 29 | $ 9.99 | FSII - FS Development Corp. II --> Pardes Biosciences, Inc
Jun 29 | $ 9.93 | TREB - Trebia Acquisition Corp --> System1
Jun 28 | $ 9.99 | DFPH - DFP HEALTHC ACQ --> The Oncology Institute
Jun 24 | $ 9.90 | ENFA - 890 5th Avenue Partners, Inc. --> BuzzFeed
Jun 24 | $ 9.90 | IACB - ION Acquisition Corp 2 --> Innovid
Jun 23 | $ 9.89 | NGAB - Northern Genesis Acquisition Corp. II --> Embark Trucks
Jun 22 | $ 9.94 | BCYP - Big Cypress Acquisition Corp. --> SAB Biotherapeutics
Jun 22 | $ 9.93 | CCAC - CITIC Capital Acquisition Corp --> Quanergy Systems
Jun 22 | $ 9.92 | DDMX - DD3 Acquisition Corp. II --> Codere Online
Jun 22 | $ 9.90 | THMA - Thimble Point Acquisition Corp. --> Pear Therapeutics, Inc.

Cerevel Soars on Trial News

Cerevel Therapeutics (CERE) had a huge day today following positive trial results for Phase 1b of its Schizophrenia drug. Shares more than doubled today +136% to $29.69. Should the story ultimately pan out, it's a nice win for the De-SPAC community as Cerevel went public via ARYA Sciences Acquisition II (closed in October 2020). A reminder that the SPAC is simply a vessel for bringing other companies to market, in this case an (inherently risky) early-stage bio, that can reap rewards if execution prevails.

cere

SPAC Merger Votes

Climate Change Crisis Real Impact I Acquisition Corporation (CLII) approved its merger with EVgo, with just $130k in redemptions. Unsurprising given CLII closed at $15.36 (though that was down ~7% on the day)

Upcoming Votes: 3 Tomorrow HOL, ALUS, APXT

Jun 30 | $ 10.03 | ALUS - Alussa Energy Acquisition Corp --> FREYR
Jun 30 | $ 13.33 | HOL - Holicity Inc --> Astra
Jun 30 | $ 12.11 | APXT - Apex Technology Acquisition Corporation --> AvePoint, Inc.
Jun 30 | $ 9.94 | WPF - Foley Trasimene Acquisition Corp. --> Alight Solutions
Jul 08 | $ 9.99 | SPRQ - Spartan Acquisition Corp II --> Sunlight Financial LLC
Jul 12 | $ 22.54 | RSVA - Rodgers Silicon Valley Acquisition Corp --> Enovix Corp
Jul 12 | $ 9.98 | ASPL - Aspirational Consumer Lifestyle Corp --> Wheels Up Partners Holdings LLC
Jul 13 | $ 9.99 | AONE - one --> Markforged
Jul 13 | $ 12.47 | LCY - Landcadia Holdings III Inc --> The Hillman Group, Inc.
Jul 14 | $ 10.01 | EMPW - Empower Ltd --> Holley
Jul 15 | $ 10.34 | DCRB - Decarbonization Plus Acquisition Corp --> Hyzon Motors Inc.
Jul 16 | $ 13.92 | THCB - Tuscan Holdings Corp. --> Microvast, Inc.
Jul 19 | $ 10.38 | ANDA - Andina Acquisition Corp. III --> Stryve Foods, LLC
Jul 20 | $ 9.99 | RAAC - Revolution Acceleration Acquisition Corp --> Berkshire Grey
Jul 20 | $ 15.87 | PSAC - Property Solutions Acquisition Corp --> Faraday Future

Today's Price Action

Biggest Gains

HOL jumped the most a day ahead of its merger vote while its sponsor urged shareholders to vote. 

15.91% ~ $ 13.33 | HOL - Holicity Inc (Announced)
8.16% ~ $ 22.54 | RSVA - Rodgers Silicon Valley Acquisition Corp (Announced)
6.56% ~ $ 14.29 | LACQ - Leisure Acquisition Corp. (Announced)
4.87% ~ $ 13.34 | SRAC - Stable Road Acquisition Corp. (Announced)
4.05% ~ $ 10.03 | ALUS - Alussa Energy Acquisition Corp (Announced)
3.54% ~ $ 10.54 | IACA - ION Acquisition Corp 1 Ltd (Announced)
3.27% ~ $ 12.96 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
3.05% ~ $ 12.18 | MUDS - Mudrick Capital Acquisition Corporation II (Announced)
2.94% ~ $ 10.50 | GSAH - GS Acquisition Holdings Corp II (Announced)
2.85% ~ $ 12.65 | FWAA - Fifth Wall Acquisition Corp. I (Announced)
2.58% ~ $ 13.92 | THCB - Tuscan Holdings Corp. (Announced)
2.33% ~ $ 17.55 | RICE - Rice Acquisition Corp. (Announced)
2.11% ~ $ 10.05 | GTPB - GORES TECHNOLOGY PARTNERS II, INC. (Pre-Deal)
2.04% ~ $ 10.00 | ISOS - Isos Acquisition Corp. (Pre-Deal)
1.76% ~ $ 9.85 | FRON - Frontier Acquisition Corp. (Pre-Deal)
1.60% ~ $ 10.15 | CCV - Churchill Capital Corp V (Pre-Deal)
1.18% ~ $ 9.89 | EUCR - Eucrates Biomedical Acquisition Corp (Pre-Deal)
1.13% ~ $ 9.99 | FSII - FS Development Corp. II (Announced)
1.03% ~ $ 9.80 | SCOB - ScION Tech Growth II (Pre-Deal)
1.03% ~ $ 9.81 | CFV - CF Acquisition Corp. V (Pre-Deal)

Biggest Losers

-7.58% ~ $ 8.66 | AACQ - Artius Acquisition Inc. (Announced)
-6.91% ~ $ 15.36 | CLII - Climate Change Crisis Real Impact I Acquisition Corp (Announced)
-4.05% ~ $ 15.87 | PSAC - Property Solutions Acquisition Corp (Announced)
-2.99% ~ $ 9.65 | TUGC - TradeUP Global Corp (Pre-Deal)
-2.82% ~ $ 9.66 | NBST - Newbury Street Acquisition Corporation (Pre-Deal)
-2.53% ~ $ 10.00 | FCAC - Falcon Capital Acquisition Corp (Announced)
-2.52% ~ $ 26.32 | CCIV - Churchill Capital Corp IV (Announced)
-2.18% ~ $ 12.11 | APXT - Apex Technology Acquisition Corporation (Announced)
-2.02% ~ $ 10.18 | GRSV - GORES HOLDINGS V, INC. (Announced)
-1.95% ~ $ 12.58 | CMII - CM Life Sciences II Inc. (Announced)
-1.81% ~ $ 9.75 | SPKB - Silver Spike Acquisition Corp II (Pre-Deal)
-1.63% ~ $ 9.68 | VLAT - Valor Latitude Acquisition Corp. (Pre-Deal)
-1.61% ~ $ 11.01 | BCTG - BCTG Acquisition Corp. (Announced)
-1.34% ~ $ 10.34 | DCRB - Decarbonization Plus Acquisition Corp (Announced)
-1.32% ~ $ 17.92 | SSPK - Silver Spike Acquisition Corp. (Announced)
-1.32% ~ $ 10.50 | LEAP - Ribbit LEAP Ltd (Pre-Deal)
-1.26% ~ $ 9.70 | IBER - Ibere Pharmaceuticals (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.)