Hyperfine, Circle, and Alpha Tau Healthcare Get SPAC Deals

HealthCor Catalio Acquisition Corp. (HCAQ) announced a deal with Hyperfine, and Concord Acquisition Corp. (CND) is taking Circle public, and Healthcare Capital (HCCC) picked Alpha Tau public.
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If you missed last night's update, take a quick look as pre-deal SPACs are stuck trading meaningfully below NAV despite the overall improved narrative.

Another three SPAC deals were announced this morning on a busy July 4th week. All three deals are trading well below NAV as of Wednesday's close:

$ 9.74 | HCAQ - HealthCor Catalio Acquisition Corp. --> Hyperfine, Inc.
$ 9.89 | CND - Concord Acquisition Corp --> Circle
$ 9.64 | HCCC - Healthcare Capital Corp. --> Alpha Tau Healthcare

However, as of this writing two are surging in pre-market. HCAQ has surged 7.8% and is trading around $10.50 and CND is up over 5% to $10.40. It remains to be seen if these price surges hold, but it's a good initial vote of confidence on the deals from investors.

Other SPAC News:

  • Agrico Acquisition Corp. (RICO / U) priced its IPO and will trade today. Brent de Jong's agriculture / horticulture focused SPAC raised $125M and has 1/2 warrants
  • Reuters has AirAsia considering a SPAC merger for its digial arm

July's SPAC Merger Votes

Investors will be excited to see the continued stream of de-SPACs, but will be watching for higher redemptions as they've been ticking up of late. Critical to an improved SPAC market is that the pace of SPAC IPOs remains significantly under that of the de-SPAC votes. It's unclear what the right amount of live SPACs and capital is to have a stable balance, but most believe it is significantly less than what is out there now.

Jul 08 | $ 9.94 | SPRQ - Spartan Acquisition Corp II --> Sunlight Financial LLC
Jul 12 | $ 21.50 | RSVA - Rodgers Silicon Valley Acquisition Corp --> Enovix Corp
Jul 12 | $ 9.84 | ASPL - Aspirational Consumer Lifestyle Corp --> Wheels Up Partners Holdings LLC
Jul 13 | $ 12.01 | LCY - Landcadia Holdings III Inc --> The Hillman Group, Inc.
Jul 13 | $ 9.98 | AONE - one --> Markforged
Jul 14 | $ 9.98 | EMPW - Empower Ltd --> Holley
Jul 14 | $ 10.18 | GXGX - GX Acquisition Corp --> Celularity Inc.
Jul 14 | $ 9.97 | SBG - Sandbridge Acquisition Corporation --> OWLET BABY CARE INC.
Jul 15 | $ 9.98 | NHIC - NewHold Investment Corporation --> Evolv Technology
Jul 15 | $ 10.34 | DCRB - Decarbonization Plus Acquisition Corp --> Hyzon Motors Inc.
Jul 16 | $ 10.22 | FGNA - FG New America Acquisition Corp --> OppFi
Jul 19 | $ 10.21 | ANDA - Andina Acquisition Corp. III --> Stryve Foods, LLC
Jul 20 | $ 14.81 | PSAC - Property Solutions Acquisition Corp --> Faraday Future
Jul 20 | $ 9.96 | RAAC - Revolution Acceleration Acquisition Corp --> Berkshire Grey
Jul 20 | $ 14.77 | GHVI - Gores Holdings VI Inc --> Matterport, Inc.
Jul 20 | $ 9.97 | TWND - Tailwind Acquisition Corp --> QOMPLX, Inc.
Jul 20 | $ 9.97 | ACND - Ascendant Digital Acquisition Corp --> Beacon Street Group
Jul 21 | $ 9.98 | VCVC - 10X Capital Venture Acquisition Corp --> REE Automotive Ltd.
Jul 21 | $ 13.77 | THCB - Tuscan Holdings Corp. --> Microvast, Inc.
Jul 21 | $ 12.80 | CMLF - CM Life Sciences Inc --> Sema4
Jul 22 | $ 25.52 | CCIV - Churchill Capital Corp IV --> Lucid Motors
Jul 27 | $ 9.97 | CAP - Capitol Investment Corp V --> States Title Holding, Inc.
Jul 29 | $ 9.98 | DGNR - Dragoneer Growth Opportunities Corp --> CCC Information Services Inc.

Wednesday's Price Action

Biggest Gainers
4.92% ~ $ 12.16 | CMII - CM Life Sciences II Inc. (Announced)
3.75% ~ $ 10.69 | BLSA - BCLS Acquisition Corp. (Pre-Deal)
3.13% ~ $ 13.00 | TDAC - Trident Acquisitions Corp (Announced)
2.67% ~ $ 9.99 | ATHN - Athena Technology Acquisition Corp. (Announced)
2.26% ~ $ 10.20 | DKDCA - Data Knights Acquisition Corp. (Pre-Deal)
2.13% ~ $ 10.55 | LEAP - Ribbit LEAP Ltd (Pre-Deal)
1.72% ~ $ 14.81 | PSAC - Property Solutions Acquisition Corp (Announced)
1.67% ~ $ 9.97 | DMYQ - dMY Technology Group, Inc. IV (Announced)
1.65% ~ $ 11.10 | VACQ - Vector Acquisition Corp (Announced)
1.52% ~ $ 24.69 | PCPC - Periphas Capital Partnering Corporation (Pre-Deal)
1.24% ~ $ 9.82 | SDAC - Sustainable Development Acquisition I Corp. (Pre-Deal)
1.13% ~ $ 9.87 | SPKB - Silver Spike Acquisition Corp II (Pre-Deal)
1.10% ~ $ 10.11 | FACA - Figure Acquisition Corp. I (Pre-Deal)
1.06% ~ $ 9.50 | ALUS - Alussa Energy Acquisition Corp (Announced)
.92% ~ $ 9.89 | FVT - Fortress Value Acquisition Corp. III (Pre-Deal)
.91% ~ $ 9.94 | SPRQ - Spartan Acquisition Corp II (Announced)
.91% ~ $ 9.95 | GOBI - Gobi Acquisition Corp. (Pre-Deal)
.88% ~ $ 10.37 | CMLT - CM Life Sciences III Inc. (Pre-Deal)

Biggest Losers
-7.73% ~ $ 21.50 | RSVA - Rodgers Silicon Valley Acquisition Corp (Announced)
-6.33% ~ $ 13.77 | THCB - Tuscan Holdings Corp. (Announced)
-5.30% ~ $ 10.89 | KVSB - Khosla Ventures Acquisition Co. II (Announced)
-4.77% ~ $ 11.97 | FTCV - FinTech Acquisition Corp. V (Announced)
-3.76% ~ $ 12.80 | CMLF - CM Life Sciences Inc (Announced)
-3.70% ~ $ 9.63 | OSI - Osiris Acquisition Corp. (Pre-Deal)
-3.30% ~ $ 12.00 | FWAA - Fifth Wall Acquisition Corp. I (Announced)
-3.26% ~ $ 25.52 | CCIV - Churchill Capital Corp IV (Announced)
-2.40% ~ $ 9.76 | FRXB - Forest Road Acquisition Corp. II (Pre-Deal)
-2.12% ~ $ 14.77 | GHVI - Gores Holdings VI Inc (Announced)
-1.86% ~ $ 9.77 | BRIV - B. Riley Principal 250 Merger Corp. (Pre-Deal)
-1.78% ~ $ 12.13 | PDAC - Peridot Acquisition Corp (Announced)
-1.69% ~ $ 13.40 | FST - FAST ACQ CP (Announced)
-1.50% ~ $ 9.84 | ASPL - Aspirational Consumer Lifestyle Corp (Announced)
-1.48% ~ $ 11.33 | BOWX - BowX Acquisition Corp (Announced)
-1.43% ~ $ 13.06 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
-1.43% ~ $ 10.34 | DCRB - Decarbonization Plus Acquisition Corp (Announced)
-1.42% ~ $ 9.74 | HCAQ - HealthCor Catalio Acquisition Corp. (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.)