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Danny Meyer's HUGS Creatively ties w/ Panera and DWAC set for a PIPE Roadshow

USHG Acquisition Corp (HUGS) popped on its Panera Bread news, while Tuatara Capital (TCAC) modestly rose on its springbig deal. DWAC to roadshow PIPE.

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Creative SPAC'ing alert: what's going on with Danny Meyer's SPAC USHG Acquisition Corp (HUGS)? HUGS got a nice 6.5% pop on its announcement that it will be a "cornerstone partner" alongside the Panera Bread IPO. This is not the traditional SPAC reverse merger we are accustomed to seeing. Press Release

HUGS

About the transaction:

  • Each HUGS A and B shares will become shares of Panera
  • Panera will assume HUGS warrants
  • HUGS will be a subsidiary of Panera, which will assume all HUGS cash and JAB will backstop any share redemptions

Have yet to see a SPAC transaction structure such as this one, and it will be interesting to see if the SEC has any thoughts. I'm old enough to remember the SPARC

According to Bloomberg the as it's now known "Trump SPAC" Digital World Acquisition Corp (DWAC) is getting set to to go on a roadshow to raise a potential $500M PIPE to help finance the creation of the Trump Media & Technology Group. DWAC, down over 4% today, is still trading at insanely elevated levels ($57) since the transaction was announced a few weeks ago. No PIPE was agreed upon when the original DA hit... Will it price at $15 like LCID??

The other deal of the day saw Tuatara Capital Acquisition Corp (TCAC) strike a $500M equity value SPAC deal with cannabis loyalty and marketing platform springbig. The deal financing includes a $13M PIPE from the likes of Tuatara Capital and existing investors, including TVC Capital, Key Investment Partners, and springbig’s Founder and CEO Jeffrey Harris. TCAC popped +1% on the news.

Deal rumor, Gett said to be nearing a deal with Rosecliff Acquisition Corp I (RCLF).

Today's Price Action

Biggest Gainers

27.24% ~ $ 15.60 | AGC - Altimeter Growth Corp. (Announced)
6.42% ~ $ 10.44 | HUGS - USHG Acquisition Corp. (Pre-Deal)
5.11% ~ $ 11.32 | SEAH - Sports Entertainment Acquisition Corp (Announced)
4.72% ~ $ 10.65 | IPOF - Social Capital Hedosophia Holdings Corp VI (Pre-Deal)
4.37% ~ $ 12.65 | FSII - FS Development Corp. II (Announced)
3.05% ~ $ 10.49 | MCMJ - Merida Merger Corp. I (Announced)
1.66% ~ $ 11.00 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
1.25% ~ $ 10.49 | DMYQ - dMY Technology Group, Inc. IV (Announced)
1.12% ~ $ 9.92 | PIPP - Pine Island Acquisition Corp (Pre-Deal)
1.02% ~ $ 9.86 | TCAC - Tuatara Capital Acquisition Corporation (Announced)
.92% ~ $ 9.85 | OEPW - One Equity Partners Open Water I Corp. (Pre-Deal)
.91% ~ $ 9.99 | DNAA - Social Capital Suvretta Holdings Corp. I (Pre-Deal)
.87% ~ $ 10.38 | IPOD - Social Capital Hedosophia Holdings Corp IV (Pre-Deal)
.82% ~ $ 9.78 | GOBI - Gobi Acquisition Corp. (Pre-Deal)
.82% ~ $ 9.80 | CRZN - Corazon Capital V838 Monoceros Corp (Pre-Deal)
.79% ~ $ 10.20 | AGCB - Altimeter Growth Corp. 2 (Pre-Deal)
.72% ~ $ 9.83 | APGB - Apollo Strategic Growth Capital II (Pre-Deal)
.71% ~ $ 9.97 | DNAD - Social Capital Suvretta Holdings Corp. IV (Pre-Deal)

Biggest Losers

-4.26% ~ $ 57.30 | DWAC - Digital World Acquisition Corp. (Announced)
-2.78% ~ $ 11.91 | DCRC - Decarbonization Plus Acquisition Corporation III (Announced)
-2.70% ~ $ 13.32 | XPDI - Power & Digital Infrastructure Acquisition Corp. (Announced)
-2.62% ~ $ 9.30 | GNRS - GREENROSE ACQUISITION CORP (Announced)
-2.61% ~ $ 10.09 | DGNS - DRAGONEER GR OP (Announced)
-1.99% ~ $ 9.83 | HCIC - Hennessy Capital Investment Corp. V (Pre-Deal)
-1.50% ~ $ 12.82 | MEKA - MELI Kaszek Pioneer Corp (Pre-Deal)
-1.48% ~ $ 10.00 | HLXA - HELIX ACQUISITION CORP (Announced)
-1.47% ~ $ 10.74 | IVAN - Ivanhoe Capital Acquisition Corp (Announced)
-1.25% ~ $ 10.23 | SBEA - SilverBox Engaged Merger Corp I (Announced)
-1.19% ~ $ 10.84 | SNII - Supernova Partners Acquisition Company II, Ltd. (Announced)
-1.11% ~ $ 9.79 | AAQC - Accelerate Acquisition Corp. (Pre-Deal)
-1.02% ~ $ 10.67 | FPAC - Far Peak Acquisition Corp (Announced)
-.97% ~ $ 11.20 | GGPI - Gores Guggenheim, Inc (Announced)
-.80% ~ $ 9.91 | FWAC - Fifth Wall Acquisition Corp. III (Pre-Deal)
-.76% ~ $ 9.76 | LDHA - LDH Growth Corp I (Pre-Deal)
-.60% ~ $ 9.86 | ARTA - Artisan Acquisition Corp. (Announced)
-.59% ~ $ 10.10 | ISOS - Isos Acquisition Corp. (Announced)

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(Disclaimers: this is not investment advice. The author may be long one or more stocks mentioned in this report.)