Four SPAC deals get Tuesday morning off to a fast start for SPACS. Well technically the DDMX acquisition was announced around 11:30pm ET on Monday, but we're counting it as a morning release because it makes it all the more exciting. Here are the deals:
$ 9.93 | CCAC - CITIC Capital Acquisition Corp --> Quanergy Systems
$ 9.70 | THMA - Thimble Point Acquisition Corp. --> Pear Therapeutics, Inc.
$ 9.94 | BCYP - Big Cypress Acquisition Corp. --> SAB Biotherapeutics
$ 9.99 | DDMX - DD3 Acquisition Corp. II --> Codere Online
All four are trading below NAV, with Thimble Point Acquisition (THMA) well below at $9.70 as of Monday's close. It is trading up about 1% in premarket to $9.80. Don't expect too much of a deal pop for any of these yet, but rather look for some price action around ex-redemption as that is when it's been happening of late.
Overall the SPAC activity flow is coming at a good rate with a trickle of IPOs, deals being steadily announced, and de-SPACs/votes going smoothly. For those worried about some of the recent redemptions, they should take solace in the fact that it actually demonstrates how SPACs can and should work. When early investors don't like the deal, they can cash out at $10 and leave the future risk to the remaining investors.
And, SPAC investors are getting what they should want: the SPAC market operating as intended, in an orderly manner, with rational trading.
June's Remaining SPAC Merger Votes
Two votes happen today with Thoma Bravo's TBA shareholders voting on their ironSource deal and FTIV voters having their say on the Perella Wienberg Partners deal. To date, investors seem to like both deals as TBA is trading just under NAV -- will their be a post-vote spike here? -- and FTIV trading well above NAV at $11.89.
The remainder of Junes deal votes are trading in a similar range with most around NAV, a few meaningfully above, and only AACQ trading well below NAV at $9.50.
Jun 22 | $ 9.97 | TBA - Thoma Bravo Advantage --> ironSourceJun 22 | $ 11.89 | FTIV - FinTech Acquisition Corp. IV --> Perella Weinberg Partners LLC
Jun 23 | $ 9.50 | AACQ - Artius Acquisition Inc. --> Origin Materials
Jun 23 | $ 10.47 | FTOC - FTAC Olympus Acquisition Corp --> Payoneer Inc.
Jun 24 | $ 9.99 | FIII - Forum Merger III Corporation --> Electric Last Mile, Inc.
Jun 24 | $ 9.91 | FRX - Forest Road Acquisition Corp --> Beachbody, LLC
Jun 28 | $ 9.99 | IACA - ION Acquisition Corp 1 Ltd --> Taboola
Jun 29 | $ 9.97 | NSTB - Northern Star Investment Corp. II --> Apex Clearing Holdings
Jun 29 | $ 9.95 | RACA - Therapeutics Acquisition Corp --> POINT Biopharma
Jun 29 | $ 13.69 | CLII - Climate Change Crisis Real Impact I Acquisition Corp --> EVgo
Jun 29 | $ 9.97 | FCAC - Falcon Capital Acquisition Corp --> sharecare
Jun 30 | $ 10.08 | WPF - Foley Trasimene Acquisition Corp. --> Alight Solutions
Jun 30 | $ 11.28 | HOL - Holicity Inc --> Astra
Jun 30 | $ 10.05 | ALUS - Alussa Energy Acquisition Corp --> FREYR
Jun 30 | $ 11.15 | APXT - Apex Technology Acquisition Corporation --> AvePoint, Inc.
June's mass of de-SPACs will give investors a real sense of the market once all is said and done. So far, it's positive with most of June's de-SPACs trading well above $10. CRSA/LiveVox and Acies/PlayStudios will both begin trading today with their new tickers.
$ 9.45 | FAII - Fortress Value Acquisition Corp. II --> ATI Physical Therapy
$ 11.72 | VGAC - VG Acquisition Corp --> 23andMe, Inc.
$ 16.19 | ACTC - ArcLight Clean Transition Corp --> Proterra Inc
$ 9.35 | CCX - Churchill Capital Corp II --> Software Luxembourg Holding S.A
$ 8.89 | THBR - Thunder Bridge Acquisition II, Ltd --> Indie Semiconductor
$ 9.71 | CAPA - HighCape Capital Acquisition Corp --> Quantum-Si
$ 10.25 | FSRV - FinServ Acquisition Corp --> Katapult Inc.
$ 7.16 | GIX - GigCapital2, Inc. --> Cloudbreak Health, LLC
$ 12.29 | DFHT - Deerfield Healthcare Technology Acquisitions Corp. --> CareMax Medical Group, LLC
$ 11.53 | BSPE - Bespoke Capital Acquisition Corp. --> Vintage Wine Estates
$ 13.24 | JIH - Juniper Industrial Holdings, Inc. --> Janus International Group, LLC
$ 12.52 | TSIA - TS Innovation Acquisitions Corp --> Latch, Inc.
$ 13.03 | JWS - Jaws Acquisition Corp --> Cano Health, LLC
$ 10.38 | STIC - Northern Star Acquisition Corp --> Barkbox, Inc.
$ 22.51 | IPOE - Social Capital Hedosophia Holdings Corp V --> Social Finance, Inc.
More from Boardroom Alpha
More from Boardroom Alpha For ongoing tracking, analytics, and data on SPACs checkout Boardroom Alpha's SPAC Data and Analytics service.
- SPACs Start Week Muted
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- RIDE Continues its Fall, Fortress II (FAII) Votes Tomorrow
- Lordstown (RIDE) CEO Steve Burns Resigns; Boxed + SVOK
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- De-SPACs Are Popping, Another eVTOL Merger
- Amid Positive SPAC Momentum, IPOs Returned Too
- The SPAC Tide is Turning Positive
- Less Angst in SPAC Land + Wallbox in a $1.5B SPAC Deal
- SPACs Rise, RIDE Plunges on Going Concern
- SPAC Narrative Changing: CLOV Surges in Pre-Market, CCIV Surged Monday
- VPC Impact Drops on Dave Deal, More SPAC Votes Ahead
- A Big Week for SPACs. Will the Narrative Continue to Improve?
- Ackman Rewrites the SPAC "Merger", De-SPACs are Heating Up
- 2 SPACs Vote Tomorrow amid June Merger Frenzy
- SPAC Narrative Changing with De-SPAC Success and New Chamath SPACs?
- Hot Start for SoFi, while MUDS Takes a Hit on AMC and Candy Digital News
- SPAC Activity Picks Up into Memorial Day, Remain Heavily Discounted
- IPOE Passes Vote as Chamath Pens Op-Ed, PACX Rises on Acorns Deal
- Chamath's IPOE Shareholders Vote Today on SoFi Merger; Acorns and eFFECTOR Deals
(Disclaimers: this is not investment advice. The author may be long one or more stocks mentioned in this report.)