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This morning saw two SPAC deals announced in a nice pickup in SPAC M&A momentum. Both MRAC and GLEO are trading near NAV and are low risk plays.
MRAC, a $374M SPAC co-sponsored by The Raine Group and Marquee Sports (Ricketts family / Chicago Cubs owners), struck a deal to take home shopping company Enjoy Technology public in a $1.18B EV SPAC deal.
GLEO, sponsored by 4-time Italian SPAC veterans, struck a $410M EV deal to take digital manufacturing company Shapeways public. The deal includes $75M of PIPE financing with some interesting participants: Miller Value, XN, Lux Capital, Union Square Ventures, INKEF Capital and Andreesen Horowitz and Desktop Metal.
** For on-going tracking, analytics, and data on SPACs checkout Boardroom Alpha's SPAC Data and Analytics service. **
A Check-in on the 2021 SPAC Vintage
We also wanted to check-in on the 2021 SPAC vintage and see how they are trading. There were few surprises as the majority continue to trade below NAV and off their highs.
The question for SPAC investors that are hoping more for upside than yield, is whether these SPACs are doomed to poor returns with lack luster deals or if they are coiled like a spring ready to explode
SPAC Basket Ideas
Find a Deal You Believe In --> SPACs that Announced Deals since March 1
Apr 28 | $ 10.07 | GLEO - Galileo Acquisition Corp. --> Shapeways, Inc.
Apr 27 | $ 10.06 | BLUW - Blue Water Acquisition Corporation --> Clarus Therapeutics
Apr 25 | $ 10.23 | SEAH - Sports Entertainment Acquisition Corp --> Super Group
Apr 22 | $ 10.58 | FWAA - Fifth Wall Acquisition Corp. I --> SMARTRENT.COM, INC.
Apr 22 | $ 10.03 | HZAC - HORIZON ACQ CP --> Vivid Seats Inc.
Apr 19 | $ 10.14 | DBDR - Roman DBDR Tech Acquisition Corp. --> CompoSecure Holdings, L.L.C.
Apr 15 | $ 9.91 | DEH - D8 Holdings Corp. --> Vicarious Surgical Inc.
Apr 15 | $ 9.83 | CHFW - Consonance-HFW Acquisition Corp --> Surrozen, Inc.
Apr 14 | $ 9.98 | ROCC - Roth CH Acquisition II Co. --> Reservoir Holdings, Inc.
Apr 14 | $ 11.34 | BCTG - BCTG Acquisition Corp. --> Tango Therapeutics
Apr 13 | $ 13.71 | AGC - ALTIMETER GROWTH CORP --> Grab
Apr 08 | $ 10.00 | TWCT - TWC Tech Holdings II Corp --> Cellebrite
Apr 08 | $ 15.50 | RICE - Rice Acquisition Corp. --> Aria Energy & Achaea Energy
Apr 07 | $ 9.87 | CAHC - CA Healthcare Acquisition Corp. --> LumiraDx Ltd
Apr 07 | $ 9.87 | MCAD - Mountain Crest Acquisition Corp. II --> Better Therapeutics
Apr 06 | $ 15.83 | MUDS - Mudrick Capital Acquisition Corporation II --> The Topps Company
Apr 06 | $ 9.91 | ROT - Rotor Acquisition Corp --> SARCOS CORP.
Mar 31 | $ 10.06 | LATN - Union Acquisition Corp. II --> Procaps Group
Mar 30 | $ 9.92 | QELL - Qell Acquisition Corp --> Lilium
Mar 29 | $ 12.27 | CMII - CM Life Sciences II Inc. --> SOMALOGIC, INC
Mar 29 | $ 9.99 | AJAX - Ajax I --> Cazoo
Mar 26 | $ 9.95 | SV - Spring Valley Acquisition Corp --> AeroFarms
Mar 26 | $ 11.59 | BOWX - BowX Acquisition Corp --> WeWork
Mar 25 | $ 10.13 | GNPK - Genesis Park Acquisition Corp --> Redwire, LLC
Mar 22 | $ 10.45 | SPFR - Jaws Spitfire Acquisition Corporation --> VELO3D
Mar 22 | $ 9.88 | MLAC - Malacca Straits Acquisition Company Limited --> Asia Vision Network
Mar 22 | $ 10.10 | CHAQ - Chardan Healthcare Acquisition 2 Corp. --> Renovacor
Mar 21 | $ 10.41 | TBA - Thoma Bravo Advantage --> ironSource
Mar 19 | $ 10.10 | SCPE - SC Health Corporation --> Rockley Photonics
Mar 18 | $ 10.00 | SPNV - Supernova Partners Acquisition Company Inc --> Offerpad
Mar 18 | $ 10.10 | ITAC - Industrial Tech Acquisitions Inc --> Arbe Robotics Ltd
Mar 16 | $ 11.80 | FTCV - FinTech Acquisition Corp. V --> eToro
Mar 15 | $ 9.97 | GNRS - GREENROSE ACQUISITION CORP --> Shango Holdings, Future Works, Theraplant, TrueHarvest
Mar 15 | $ 9.96 | DFNS - LGL Systems Acquisition Corp --> IronNet Cybersecurity, Inc.
Mar 15 | $ 10.11 | RACA - Therapeutics Acquisition Corp --> POINT Biopharma
Mar 12 | $ 10.00 | EMPW - Empower Ltd --> Holley
Mar 12 | $ 9.95 | CTAC - Cerberus Telecom Acquisition Corp --> Kore
Mar 09 | $ 9.98 | MOTN - Motion Acquisition Corp --> Ambulnz, Inc.
Mar 08 | $ 10.50 | DMYI - dMY Technology Group Inc III --> ionQ, Inc.
Mar 08 | $ 10.02 | NBA - New Beginnings Acquisition Corp --> Airspan Networks Inc.
Mar 08 | $ 10.00 | NHIC - NewHold Investment Corporation --> Evolv Technology
Mar 05 | $ 10.05 | GWAC - Good Works Acquisition Corp --> Cipher Mining Technologies Inc.
Mar 04 | $ 9.98 | RTPZ - Reinvent Technology Partners Z --> Hippo Enterprises Inc.
Mar 04 | $ 9.90 | SOAC - Sustainable Opportunities Acquisition Corp. --> DeepGreen Metals Inc.
Mar 03 | $ 9.91 | VMAC - Vistas Media Acquisition Company Inc. --> Anghami
Mar 02 | $ 10.00 | CAP - Capitol Investment Corp V --> States Title Holding, Inc.
Mar 02 | $ 9.96 | ACND - Ascendant Digital Acquisition Corp --> Beacon Street Group
Mar 01 | $ 9.95 | NSH - NavSight Holdings, Inc --> Spire Global
Mar 01 | $ 9.91 | TWND - Tailwind Acquisition Corp --> QOMPLX, Inc.
Mar 01 | $ 10.68 | VACQ - Vector Acquisition Corp --> Rocket Lab
Buy the Dip? Yesterday's Biggest Decliners
-8.91% ~ $ 9.00 | GIK - GigCapital3 Inc (Announced)
-7.12% ~ $ 12.27 | CMII - CM Life Sciences II Inc. (Announced)
-4.73% ~ $ 22.74 | CCIV - Churchill Capital Corp IV (Announced)
-4.72% ~ $ 16.95 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
-3.56% ~ $ 12.72 | CLII - Climate Change Crisis Real Impact I Acquisition Corp (Announced)
-3.11% ~ $ 17.45 | SSPK - Silver Spike Acquisition Corp. (Announced)
-2.90% ~ $ 9.71 | IPVF - InterPrivate III Financial Partners Inc. (Pre-Deal)
-2.75% ~ $ 13.80 | RSVA - Rodgers Silicon Valley Acquisition Corp (Announced)
-2.73% ~ $ 10.70 | STIC - Northern Star Acquisition Corp (Announced)
-2.60% ~ $ 13.84 | CMLF - CM Life Sciences Inc (Announced)
-2.27% ~ $ 9.90 | GSEV - Gores Holdings VII (Pre-Deal)
-1.80% ~ $ 9.83 | TWNT - Tailwind Two Acquisition Corp. (Pre-Deal)
-1.73% ~ $ 12.50 | LACQ - Leisure Acquisition Corp. (Announced)
-1.72% ~ $ 9.71 | HLAH - Hamilton Lane Alliance Holdings I, Inc. (Pre-Deal)
-1.66% ~ $ 11.82 | PSAC - Property Solutions Acquisition Corp (Announced)
-1.63% ~ $ 10.87 | LEAP - Ribbit LEAP Ltd (Pre-Deal)
-1.62% ~ $ 9.69 | ITHX - ITHAX Acquisition Corp. (Pre-Deal)
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For on-going tracking, analytics, and data on SPACs checkout Boardroom Alpha's SPAC Data and Analytics service.
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