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DWAC Makes a Comeback, TDAC Announces Redemptions, and 3 SPACs Went to Vote

It's anyone's guess where DWAC goes next after rising ~10% on the day. TDAC's redemptions were less than 1% and no surprises in the 3 SPAC merger votes.

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It was another energetic day in SPACs, but today was one of more caution and care than the last few. 

DWAC made a comeback clawing back up ~10% on the day. This remains a very hard trade to figure out given there is so little available on the actual deal and the MAGA/MEME factor. For those trading in it, remain careful and understand that there is significant risk of capital loss if you're getting in well above the $10 redemption floor for a SPAC -- especially this one.

So far no surprises for today's 3 SPAC votes -- MCAD, GNRS, TMTS -- though we're waiting on details of the TMTS vote. MCAD and GNRS both passed. GNRS saw 15.2M shares redeemed (~88%). That will leave GNRS with only about $20M in trust. 

TDAC Redemptions < 1%
TDAC / Lottery.com surprised and pre-announced redemptions. It's an unusual move, but given redemptions amounted to less than 1%, it makes sense they'd want to get it out early and build some excitement going into tomorrow's vote.

TDAC / Lotter.com pre-announced redemptions of < 1%. Given it's trading well above $10, it's no surprise.

TDAC / Lotter.com pre-announced redemptions of < 1%. Given it's trading well above $10, it's no surprise.

SPAC IPOs

Today's SPAC IPOs all traded well, but remember most are backed by overfunded trusts. There was lots of action for all SPAC IPOs, but LVAC led by trading over 100% of its float.

$ 10.10 | IOAC - Innovative International Acquisition Corp.
$ 10.10 | LVAC - LAVA Medtech Acquisition Corp.
$ 10.05 | DMAQ - Deep Medicine Acquisition Corp.
$ 10.09 | PHYT - Pyrophyte Acquisition Corp.
$ 9.95 | OHAA - Opy Acquisition Corp. I
$ 10.07 | TKB - TKB Critical Technologies 1

SPAC Vote Calendar
Today saw 4 SPACs go to shareholder to approve their deals. MCAD shareholders approved their deal and will start trading as BTTX on 10/29. GNRS was also approved and will trade as OTC with the same ticker. We're waiting on TMTS, but the only questions there are (a) redemptions numbers, which should be low, and (b) when it will start trading.

As noted above, TDAC goes to vote tomorrow, but there are no questions there as it will pass, we know < 1% redeemed and it will start trading as LTRY on 11/1.

Oct 27 | $ 10.97 | MCAD - Mountain Crest Acquisition Corp. II --> Better Therapeutics
Oct 27 | $ 10.05 | GNRS - GREENROSE ACQUISITION CORP --> Shango Holdings, Future Works, Theraplant, TrueHarvest
Oct 27 | $ 10.89 | TMTS - Spartacus Acquisition Corporation --> NextNav Holdings, LLC
Oct 28 | $ 13.99 | TDAC - Trident Acquisitions Corp --> AUTOLOTTO, INC.
Nov 02 | $ 10.10 | KVSB - Khosla Ventures Acquisition Co. II --> Nextdoor, Inc.
Nov 02 | $ 9.98 | SWBK - Switchback II Corporation --> Bird Rides, Inc.
Nov 02 | $ 9.98 | RTPY - Reinvent Technology Partners Y --> Aurora Innovation, Inc.
Nov 02 | $ 10.01 | MOTN - Motion Acquisition Corp --> Ambulnz, Inc.
Nov 09 | $ 9.99 | NGAB - Northern Genesis Acquisition Corp. II --> Embark Trucks
Nov 12 | $ 9.99 | DFPH - DFP HEALTHC ACQ --> The Oncology Institute
Nov 16 | $ 9.99 | VOSO - Virtuoso Acquisition Corp. --> Wejo
Nov 16 | $ 9.99 | KVSA - Khosla Ventures Acquisition Co --> Valo Health
Nov 16 | $ 9.96 | LIII - Leo Holdings III Corp --> Local Bounti Corp
Nov 23 | $ 9.98 | THMA - Thimble Point Acquisition Corp. --> Pear Therapeutics, Inc.

SPAC Stock Movers

Biggest Gainers
9.85% ~ $ 64.89 | DWAC - Digital World Acquisition Corp. (Announced)
9.81% ~ $ 10.97 | MCAD - Mountain Crest Acquisition Corp. II (Announced)
5.63% ~ $ 10.89 | TMTS - Spartacus Acquisition Corporation (Announced)
5.37% ~ $ 11.19 | BENE - Benessere Capital Acquisition Corp. (Pre-Deal)
4.40% ~ $ 10.45 | MCMJ - Merida Merger Corp. I (Announced)
3.02% ~ $ 13.99 | TDAC - Trident Acquisitions Corp (Announced)
2.55% ~ $ 10.05 | GNRS - GREENROSE ACQUISITION CORP (Announced)
2.48% ~ $ 13.24 | AGC - Altimeter Growth Corp. (Announced)
1.68% ~ $ 10.30 | SNII - Supernova Partners Acquisition Company II, Ltd. (Announced)
1.39% ~ $ 10.19 | FSII - FS Development Corp. II (Announced)
1.12% ~ $ 9.91 | MCAF - Mountain Crest Acquisition Corp. IV (Pre-Deal)
1.01% ~ $ 10.00 | HLXA - HELIX ACQUISITION CORP (Announced)
.77% ~ $ 10.48 | ACKIT - ACKRELL SPAC Partners I Co. (Pre-Deal)
.72% ~ $ 9.80 | SBEA - SilverBox Engaged Merger Corp I (Pre-Deal)
.68% ~ $ 10.34 | ZGYH - Yunhong International (Pre-Deal)
.62% ~ $ 9.75 | CCAI - Cascadia Acquisition Corp. (Pre-Deal)
.61% ~ $ 9.84 | DALS - DA32 Life Science Tech Acquisition Corp. (Pre-Deal)
.60% ~ $ 9.99 | ATSPT - Archimedes Tech SPAC Partners Co (Pre-Deal)
.52% ~ $ 9.74 | TIOA - Tio Tech A (Pre-Deal)
.51% ~ $ 9.77 | CLAA - Colonnade Acquisition Corp. II (Pre-Deal)

Biggest Losers
-6.72% ~ $ 11.66 | XPDI - Power & Digital Infrastructure Acquisition Corp. (Announced)
-6.36% ~ $ 10.45 | FTCV - FinTech Acquisition Corp. V (Announced)
-5.33% ~ $ 10.84 | BRPM - B. Riley Principal 150 Merger Corp. (Announced)
-2.80% ~ $ 10.40 | FPAC - Far Peak Acquisition Corp (Announced)
-2.60% ~ $ 9.74 | INAQ - Insight Acquisition Corp. (Pre-Deal)
-2.43% ~ $ 11.22 | SEAH - Sports Entertainment Acquisition Corp (Announced)
-2.30% ~ $ 10.18 | LEAP - Ribbit LEAP Ltd (Pre-Deal)
-1.43% ~ $ 10.35 | GGPI - Gores Guggenheim, Inc (Announced)
-1.36% ~ $ 10.85 | CND - Concord Acquisition Corp (Announced)
-1.22% ~ $ 9.73 | WAVC - Waverley Capital Acquisition Corp. 1 (Pre-Deal)
-1.21% ~ $ 10.60 | DCRC - Decarbonization Plus Acquisition Corporation III (Announced)
-.91% ~ $ 9.82 | KCGI - Kensington Capital Acquisition Corp. V (Pre-Deal)
-.90% ~ $ 9.92 | CFFE - CF Acquisition Corp. VIII (Pre-Deal)
-.88% ~ $ 10.11 | RBAC - RedBall Acquisition Corp. (Announced)
-.72% ~ $ 9.69 | CNDA - Concord Acquisition Corp II (Pre-Deal)
-.72% ~ $ 9.70 | WALD - Waldencast Acquisition Corp. (Pre-Deal)
-.69% ~ $ 10.03 | NGCA - NextGen Acquisition Corp. II (Announced)
-.66% ~ $ 9.72 | GFOR - Graf Acquisition Corp. IV (Pre-Deal)
-.62% ~ $ 9.69 | NBST - Newbury Street Acquisition Corporation (Pre-Deal)
-.61% ~ $ 9.72 | RCLF - Rosecliff Acquisition Corp I (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.)