Chamath's Bio SPACs Rise, WPF has Large Redemptions

Chamath's 4 new Biotech SPACs rose on their IPO day, while Foley Trasimene's deal suffered large redemptions.

Author:
David Drapkin
Publish date:
Jun 30, 2021 6:43 PM EDT

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Chamath's New SPACs Debut

Chamath's 4 new Biotech SPACs priced and began trading today, all upsized from $200M to $220M a pop. Each of the 4 traded nicely, up over 1%. The upsizing + the trade up (don't expect many irrational IPO SPAC mega pops these days) is a positive sign for the SPAC king as it shows there is still lots of demand ($880M of new capital) to participate in a Chamath SPAC.

+1.10% | $10.11 DNAA - Social Capital Suvretta Holdings Corp. I Neurology
+1.20% | $10.12 DNAB - Social Capital Suvretta Holdings Corp. II Oncology
+1.30% | $10.13 DNAC - Social Capital Suvretta Holdings Corp. III Organ-related
+1.10% | $10.11 DNAD - Social Capital Suvretta Holdings Corp. IV Immunology

Thayer + Inspirato

Thayer Ventures Acquisition Corp (TVAC) announced a deal this morning with Inspirato, a subscription based luxury hospitality/travel company. The deal values Inspirato at $1.1B EV and includes a $100M PIPE from Janus Henderson, Rodina, and Kleiner Perkins. Shares closed +0.3% to $10.05, while the warrants (TVACW) skyrocketed +23% to $1.30.

Today's Merger Votes:

Foley Trasimene (WPF): Saw about ~$200M in redemptions as shareholders approved its deal with Alight. The 19.9mm share redemptions represents ~19% of trust, while the sponsor announced it will buy 5.6mm of those shares redeemed, and also allow shareholders who redeemed the option to withdraw that redemption. Shares are trading down ~1.41% to $9.80, so unlikely at this point for that to happen.

Whilst, Holicity (HOL) vote on Astra passed with a relatively minimal ~11k shares redeeming for about $110k. HOL closed down over 7% to $12.35.

Alussa Energy (ALUS) vote passed, but no mention of redemptions. Shares closed down 1% to $9.91 - so likely to see some in a later filing.

Today's Price Action

Biggest Gainers

13.20% ~ $ 16.21 | GHVI - Gores Holdings VI Inc (Announced)
9.50% ~ $ 28.82 | CCIV - Churchill Capital Corp IV (Announced)
6.56% ~ $ 14.29 | LACQ - Leisure Acquisition Corp. (Announced)
4.73% ~ $ 12.63 | TDAC - Trident Acquisitions Corp (Announced)
4.72% ~ $ 13.97 | SRAC - Stable Road Acquisition Corp. (Announced)
3.78% ~ $ 14.01 | CMLF - CM Life Sciences Inc (Announced)
3.36% ~ $ 11.38 | BCTG - BCTG Acquisition Corp. (Announced)
3.31% ~ $ 12.18 | PDAC - Peridot Acquisition Corp (Announced)
2.85% ~ $ 18.05 | RICE - Rice Acquisition Corp. (Announced)
2.30% ~ $ 12.46 | MUDS - Mudrick Capital Acquisition Corporation II (Announced)
2.19% ~ $ 10.27 | RACA - Therapeutics Acquisition Corp (Announced)
2.10% ~ $ 10.20 | HSAQ - Health Sciences Acquisitions Corporation 2 (Pre-Deal)
1.91% ~ $ 22.97 | RSVA - Rodgers Silicon Valley Acquisition Corp (Announced)
1.81% ~ $ 10.69 | LEAP - Ribbit LEAP Ltd (Pre-Deal)
1.43% ~ $ 22.76 | PSTH - Pershing Square Tontine Holdings (Announced)
1.40% ~ $ 10.14 | RACB - Research Alliance Corp. II (Pre-Deal)
1.33% ~ $ 10.69 | DMYI - dMY Technology Group Inc III (Announced)

Biggest Losers

-7.35% ~ $ 12.35 | HOL - Holicity Inc (Announced)
-7.20% ~ $ 9.28 | FCAC - Falcon Capital Acquisition Corp (Announced)
-2.65% ~ $ 12.32 | FWAA - Fifth Wall Acquisition Corp. I (Announced)
-2.54% ~ $ 12.26 | CMII - CM Life Sciences II Inc. (Announced)
-2.21% ~ $ 15.02 | CLII - Climate Change Crisis Real Impact I Acquisition Corp (Announced)
-2.08% ~ $ 13.63 | THCB - Tuscan Holdings Corp. (Announced)
-1.96% ~ $ 9.76 | AFAQ - AF Acquisition Corp. (Pre-Deal)
-1.83% ~ $ 15.58 | PSAC - Property Solutions Acquisition Corp (Announced)
-1.71% ~ $ 9.77 | WPF - Foley Trasimene Acquisition Corp. (Announced)
-1.68% ~ $ 9.96 | TPGS - TPG Pace Solutions Corp. (Pre-Deal)
-1.58% ~ $ 11.81 | FST - FAST ACQ CP (Announced)
-1.41% ~ $ 9.81 | FVIV - Fortress Value Acquisition Corp. IV (Pre-Deal)
-1.32% ~ $ 9.75 | SPGS - Simon Property Group Acquisition Holdings, Inc. (Pre-Deal)
-1.20% ~ $ 9.84 | MAQC - Maquia Capital Acquisition Corporation (Pre-Deal)
-1.20% ~ $ 9.88 | ISOS - Isos Acquisition Corp. (Pre-Deal)
-1.20% ~ $ 9.91 | ALUS - Alussa Energy Acquisition Corp (Announced)
-1.11% ~ $ 9.77 | DMYQ - dMY Technology Group, Inc. IV (Pre-Deal)
-1.11% ~ $ 9.78 | LVRA - Levere Holdings Corp (Pre-Deal)
-1.02% ~ $ 9.70 | SCOB - ScION Tech Growth II (Pre-Deal)

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