Will the Better SPAC Narrative Hold this Week?

Last week was mixed with negative news around DKNG and RIDE. Will the SPAC market be able to shake it off and deliver continued results around what had been an improving narrative?
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SPAC investors had mixed feelings last week given the nice, orderly flow of shareholder merger votes and decent trading fighting with some negative news surrounding DraftKings (DKNG) and, more pronounced with Lordstown Motors (RIDE). Over the weekend the news on RIDE continued with talk of opportunistic (at best) insider selling in February raising eyebrows.

June's SPAC Shareholder Votes

Investors are into the June homestretch for SPAC merger votes and while some redemptions have spiked (FAII, CRSA, HEC), most votes have been smooth. There are still 14 more votes happening though, so investors will watch the mood and results closely.

Jun 22 | $ 12.08 | FTIV - FinTech Acquisition Corp. IV --> Perella Weinberg Partners LLC
Jun 22 | $ 9.97 | TBA - Thoma Bravo Advantage --> ironSource
Jun 23 | $ 10.02 | FTOC - FTAC Olympus Acquisition Corp --> Payoneer Inc.
Jun 23 | $ 9.98 | AACQ - Artius Acquisition Inc. --> Origin Materials
Jun 24 | $ 9.98 | FIII - Forum Merger III Corporation --> Electric Last Mile, Inc.
Jun 24 | $ 10.01 | FRX - Forest Road Acquisition Corp --> Beachbody, LLC
Jun 28 | $ 10.10 | IACA - ION Acquisition Corp 1 Ltd --> Taboola
Jun 29 | $ 10.15 | RACA - Therapeutics Acquisition Corp --> POINT Biopharma
Jun 29 | $ 9.98 | FCAC - Falcon Capital Acquisition Corp --> sharecare
Jun 29 | $ 14.11 | CLII - Climate Change Crisis Real Impact I Acquisition Corp --> EVgo
Jun 30 | $ 10.14 | WPF - Foley Trasimene Acquisition Corp. --> Alight Solutions
Jun 30 | $ 10.89 | HOL - Holicity Inc --> Astra
Jun 30 | $ 10.06 | ALUS - Alussa Energy Acquisition Corp --> FREYR
Jun 30 | $ 11.64 | APXT - Apex Technology Acquisition Corporation --> AvePoint, Inc.

Recent Deal Announcements

June has seen a number of new deals announced and trading is generally mixed, though most are holding up better than investors had been seeing immediately after "peak SPAC". Those that are trading below NAV could be good opportunities to get a pop on/around ex-redemption if that trade continues to hold. 

Jun 18 | $ 9.80 | LIII - Leo Holdings III Corp --> Local Bounti Corp
Jun 17 | $ 10.16 | GSAH - GS Acquisition Holdings Corp II --> Mirion Technologies
Jun 16 | $ 9.92 | ROCR - ROTH CH ACQUISITION III CO --> QualTek
Jun 15 | $ 10.67 | DCRC - Decarbonization Plus Acquisition Corporation III --> Solid Power Inc.
Jun 14 | $ 9.87 | SVOK - Seven Oaks Acquisition Corp. --> Boxed
Jun 11 | $ 9.90 | YAC - Yucaipa Acquisition Corporation --> SIGNA Sports United
Jun 10 | $ 10.04 | TMTS - Spartacus Acquisition Corporation --> NextNav Holdings, LLC
Jun 10 | $ 9.98 | VENA - Venus Acquisition Corporation --> VIYI Algorithm Inc.
Jun 10 | $ 9.96 | BSN - Broadstone Acquisition Corp. --> Vertical Aerospace
Jun 09 | $ 9.96 | KCAC - Kensington Capital Acquisition Corp. II --> Wallbox
Jun 09 | $ 9.89 | KVSA - Khosla Ventures Acquisition Co --> Valo Health
Jun 07 | $ 9.89 | VPCC - VPC Impact Acquisition Holdings III, Inc. --> DAVE INC.
Jun 04 | $ 22.74 | PSTH - Pershing Square Tontine Holdings --> Universal Music Group
Jun 04 | $ 9.83 | GIG - GigCapital4, Inc. --> BigBear.ai
Jun 03 | $ 9.88 | KURI - Alkuri Global Acquisition Corp. --> Babylon

SPAC Bargains

Despite the improved mood and results for SPACs in June, there are still plenty to be had at solid, below-NAV discounts. These remain good plays for investors looking to capitalize on the yield + upside play that SPACs can deliver. 

-3.70% | SPTK - SportsTek Acquisition Corp. (Pre-Deal)
-3.70% | PUCK - Goal Acquisitions Corp. (Pre-Deal)
-3.60% | MACQ - MCAP Acquisition Corporation (Pre-Deal)
-3.60% | GLHA - Glass Houses Acquisition Corp. (Pre-Deal)
-3.50% | ZWRK - Z-Work Acquisition Corp. (Pre-Deal)
-3.50% | KSIC - Kadem Sustainable Impact Corporation (Pre-Deal)
-3.50% | ARRW - Arrowroot Acquisition Corp. (Pre-Deal)
-3.50% | EJFA - EJF Acquisition Corp (Pre-Deal)
-3.50% | NBST - Newbury Street Acquisition Corporation (Pre-Deal)
-3.50% | PMGM - Priveterra Acquisition Corp. (Pre-Deal)
-3.50% | TBSA - TB SA Acquisition Corp (Pre-Deal)
-3.40% | MDH - MDH Acquisition Corp. (Pre-Deal)
-3.40% | HCCC - Healthcare Capital Corp. (Pre-Deal)
-3.40% | TWLV - Twelve Seas Investment Company II (Pre-Deal)
-3.40% | GXII - GX Acquisition Corp. II (Pre-Deal)
-3.40% | FSNB - Fusion Acquisition Corp. II (Pre-Deal)
-3.40% | ISOS - Isos Acquisition Corp. (Pre-Deal)
-3.40% | DISA - Disruptive Acquisition Corp I (Pre-Deal)
-3.40% | SWET - Athlon Acquisition Corp. (Pre-Deal)
-3.40% | OSTR - Oyster Enterprises Acquisition Corp. (Pre-Deal)
-3.30% | FLME - Flame Acquisition Corp. (Pre-Deal)
-3.30% | PSAG - Property Solutions Acquisition Corp. II (Pre-Deal)
-3.30% | MACA - Moringa Acquisition Corp (Pre-Deal)
-3.30% | OEPW - One Equity Partners Open Water I Corp. (Pre-Deal)
-3.30% | BITE - Bite Acquisition Corp. (Pre-Deal)
-3.30% | FRWA - PWP Forward Acquisition Corp. I (Pre-Deal)
-3.30% | MBAC - M3-Brigade Acquisition II Corp (Pre-Deal)
-3.25% | VELO - Velocity Acquisition Corp (Pre-Deal)
-3.22% | JCIC - Jack Creek Investment Corp. (Pre-Deal)
-3.20% | OPA - Magnum Opus Acquisition Limited (Pre-Deal)
-3.20% | KAII - Kismet Acquisition Two Corp. (Pre-Deal)
-3.20% | DLCA - Deep Lake Capital Acquisition Corp. (Pre-Deal)
-3.20% | CHAA - Catcha Investment Corp (Pre-Deal)
-3.20% | AEAC - Authentic Equity Acquisition Corp. (Pre-Deal)
-3.20% | OHPA - Orion Acquisition Corp. (Pre-Deal)
-3.20% | TLGA - TLG Acquisition One Corp. (Pre-Deal)
-3.20% | BOAS - BOA Acquisition Corp. (Pre-Deal)
-3.20% | ASAX - Astrea Acquisition Corp. (Pre-Deal)
-3.20% | IBER - Ibere Pharmaceuticals (Pre-Deal)
-3.20% | BYTS - BYTE Acquisition Corp. (Pre-Deal)
-3.15% | ATHN - Athena Technology Acquisition Corp. (Pre-Deal)
-3.10% | AGAC - African Gold Acquisition Corporation (Pre-Deal)
-3.10% | ITQ - Itiquira Acquisition Corp. (Pre-Deal)
-3.10% | SCAQ - Stratim Cloud Acquisition Corp. (Pre-Deal)
-3.10% | ITHX - ITHAX Acquisition Corp. (Pre-Deal)
-3.10% | NAAC - North Atlantic Acquisition Corporation (Pre-Deal)
-3.10% | RCLF - Rosecliff Acquisition Corp I (Pre-Deal)
-3.10% | FINM - Marlin Technology Corp (Pre-Deal)
-3.10% | TRCA - Twin Ridge Capital Acquisition Corp. (Pre-Deal)
-3.10% | GMBT - Queen’s Gambit Growth Capital (Pre-Deal)
-3.10% | HCAR - Healthcare Services Acquisition Corporation (Pre-Deal)
-3.10% | KIII - Kismet Acquisition Three Corp. (Pre-Deal)
-3.10% | ACAH - Atlantic Coastal Acquisition Corp. (Pre-Deal)
-3.10% | ADEX - ADIT EDTECH ACQUISITION CORP. (Pre-Deal)
-3.05% | AFAQ - AF Acquisition Corp. (Pre-Deal)
-3.05% | BGSX - Build Acquisition Corp. (Pre-Deal)
-3.02% | EAC - Edify Acquisition Corp. (Pre-Deal)
-3.00% | CRZN - Corazon Capital V838 Monoceros Corp (Pre-Deal)
-3.00% | ADER - 26 Capital Acquisition Corp (Pre-Deal)
-3.00% | FSSI - Fortistar Sustainable Solutions Corp. (Pre-Deal)
-3.00% | TCAC - Tuatara Capital Acquisition Corporation (Pre-Deal)
-3.00% | BIOT - Biotech Acquisition Company (Pre-Deal)
-3.00% | PV - Primavera Capital Acquisition Corporation (Pre-Deal)
-3.00% | LFTR - Lefteris Acquisition Corp (Pre-Deal)
-3.00% | IPVF - InterPrivate III Financial Partners Inc. (Pre-Deal)
-3.00% | MSAC - Medicus Sciences Acquisition Corp. (Pre-Deal)
-3.00% | FTEV - FinTech Evolution Acquisition Group (Pre-Deal)
-3.00% | SDAC - Sustainable Development Acquisition I Corp. (Pre-Deal)
-3.00% | NVSA - New Vista Acquisition Corp (Pre-Deal)
-3.00% | BRPM - B. Riley Principal 150 Merger Corp. (Pre-Deal)
-3.00% | EPWR - Empowerment & Inclusion Capital I Corp (Pre-Deal)
-3.00% | SCLE - Broadscale Acquisition Corp (Pre-Deal)
-3.00% | TETC - Tech and Energy Transition Corporation (Pre-Deal)
-3.00% | CPTK - Crown PropTech Acquisitions (Pre-Deal)
-3.00% | PAQC - Provident Acquisition Corp. (Pre-Deal)
-3.00% | WARR - Warrior Technologies Acquisition Company (Pre-Deal)
-3.00% | EBAC - European Biotech Acquisition Corp. (Pre-Deal)
-3.00% | ROSS - Ross Acquisition Corp II (Pre-Deal)
-3.00% | PGRW - Progress Acquisition Corp. (Pre-Deal)
-3.00% | LEGA - Lead Edge Growth Opportunities, Ltd (Pre-Deal)
-2.92% | GAMC - Golden Arrow Merger Corp. (Pre-Deal)
-2.90% | TBCP - Thunder Bridge Capital Partners III Inc. (Pre-Deal)
-2.90% | EUSG - European Sustainable Growth Acquisition Corp. (Pre-Deal)
-2.90% | NRAC - Noble Rock Acquisition Corporation (Pre-Deal)
-2.90% | FMIV - Forum Merger IV Corporation (Pre-Deal)
-2.90% | KLAQ - KL Acquisition Corp (Pre-Deal)
-2.90% | DSAC - Duddell Street Acquisition Corp (Pre-Deal)
-2.90% | ADRA - Adara Acquisition Corp. (Pre-Deal)
-2.90% | CRU - Crucible Acquisition Corporation (Pre-Deal)
-2.90% | GLBL - Cartesian Growth Corporation (Pre-Deal)
-2.90% | DHBC - DHB Capital Corp. (Pre-Deal)
-2.90% | DHCA - DHC Acquisition Corp (Pre-Deal)
-2.90% | CLAA - Colonnade Acquisition Corp. II (Pre-Deal)
-2.90% | COVA - Crescent Cove Acquisition Corp. (Pre-Deal)
-2.90% | BLTS - Bright Lights Acquisition Corp. (Pre-Deal)
-2.90% | MON - Monument Circle Acquisition Corp (Pre-Deal)
-2.90% | NSTD - Northern Star Investment Corp. IV (Pre-Deal)
-2.90% | FPAC - Far Peak Acquisition Corp (Pre-Deal)
-2.90% | CFVI - CF Acquisition Corp. VI (Pre-Deal)
-2.90% | PNTM - Pontem Corp (Pre-Deal)
-2.82% | SLAC - Social Leverage Acquisition Corp I (Pre-Deal)
-2.80% | CFV - CF Acquisition Corp. V (Pre-Deal)
-2.80% | TWNI - Tailwind International Acquisition Corp. (Pre-Deal)
-2.80% | FRSG - First Reserve Sustainable Growth Corp (Pre-Deal)
-2.80% | GAPA - G&P Acquisition Corp. (Pre-Deal)
-2.80% | HIII - Hudson Executive Investment Corp. III (Pre-Deal)
-2.80% | GHAC - Gaming & Hospitality Acquisition Corp. (Pre-Deal)
-2.80% | TMPM - Turmeric Acquisition Corp (Pre-Deal)
-2.80% | SCOB - ScION Tech Growth II (Pre-Deal)
-2.80% | MIT - Mason Industrial Technology, Inc. (Pre-Deal)
-2.80% | AAQC - Accelerate Acquisition Corp. (Pre-Deal)
-2.80% | CFIV - CF Acquisition Corp. IV (Pre-Deal)
-2.80% | EQHA - EQ Health Acquisition Corp (Pre-Deal)
-2.70% | TSPQ - TCW Special Purpose Acquisition Corp (Pre-Deal)
-2.70% | FRXB - Forest Road Acquisition Corp. II (Pre-Deal)
-2.70% | SBEA - SilverBox Engaged Merger Corp I (Pre-Deal)
-2.70% | ASAQ - Atlantic Street Acquisition Corp (Pre-Deal)
-2.70% | JOFF - JOFF Fintech Acquisition Corp (Pre-Deal)
-2.70% | SLCR - Silver Crest Acquisition Corporation (Pre-Deal)
-2.70% | CTAQ - Carney Technology Acquisition Corp. II (Pre-Deal)
-2.70% | TWNT - Tailwind Two Acquisition Corp. (Pre-Deal)
-2.70% | PRSR - Prospector Capital Corp. (Pre-Deal)
-2.64% | SSAA - Science Strategic Acquisition Corp. Alpha (Pre-Deal)
-2.60% | BLUA - BlueRiver Acquisition Corp (Pre-Deal)
-2.60% | VII - 7GC & Co. Holdings Inc. (Pre-Deal)
-2.60% | AKIC - Sports Ventures Acquisition Corp. (Pre-Deal)
-2.60% | FACT - Freedom Acquisition I Corp (Pre-Deal)
-2.60% | CLAS - Class Acceleration Corp. (Pre-Deal)
-2.60% | PTIC - PropTech Investment Corporation II (Pre-Deal)
-2.60% | EPHY - Epiphany Technology Acquisition Corp (Pre-Deal)
-2.60% | IPVA - InterPrivate II Acquisition Corp. (Pre-Deal)
-2.60% | LGAC - LAZARD GROWTH ACQUISITION CORP. I (Pre-Deal)
-2.60% | WALD - Waldencast Acquisition Corp. (Pre-Deal)
-2.60% | KAIR - Kairos Acquisition Corp (Pre-Deal)
-2.60% | ARBG - Aequi Acquisition Corp (Pre-Deal)
-2.60% | IMPX - AEA-Bridges Impact Corp (Pre-Deal)
-2.60% | AGGR - Agile Growth Corp. (Pre-Deal)
-2.60% | PPGH - Poema Global Holdings Corp. (Pre-Deal)
-2.58% | ESM - ESM Acquisition Corporation (Pre-Deal)
-2.56% | SHAC - SCP & CO Healthcare Acquisition Company (Pre-Deal)
-2.51% | EVOJ - Evo Acquisition Corp. (Pre-Deal)
-2.50% | SCOA - ScION Tech Growth I (Pre-Deal)
-2.50% | FLAC - Frazier Lifesciences Acquisition Corporation (Pre-Deal)
-2.50% | SLAM - Slam Corp (Pre-Deal)
-2.50% | PICC - Pivotal Investment Corporation III (Pre-Deal)
-2.50% | ASPC - Alpha Capital Acquisition Company (Pre-Deal)
-2.50% | STRE - Supernova Partners Acquisition Company III, Ltd (Pre-Deal)
-2.50% | IGAC - IG Acquisition Corp (Pre-Deal)
-2.50% | RKTA - Rocket Internet Growth Opportunities Corp. (Pre-Deal)
-2.50% | ISLE - Isleworth Healthcare Acquisition Corp. (Pre-Deal)
-2.50% | COOL - Corner Growth Acquisition Corp. (Pre-Deal)
-2.50% | TZPS - TZP Strategies Acquisition Corp. (Pre-Deal)
-2.50% | FTAA - FTAC Athena Acquisition Corp. (Pre-Deal)
-2.50% | IGNY - Ignyte 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.)