SPAC Activity Picks Up into Memorial Day, Remain Heavily Discounted

Activity picked up a bit this week in SPAC land with 6 new mergers, 5 new IPOs, and 9 new SPAC S-1 filings.
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Activity picked up a bit this week in SPAC land with 6 new mergers, 5 new IPOs, and 9 new SPAC S-1 filings. The average pre-deal SPAC is trading heavily discounted at $9.81. We recap the week below:

ICYMI: De-SPACs aren't all that bad

This week in SPACs

SPAC Mergers

6 mergers announced this week, with Pioneer/Acorns getting the most buzz from the media. All of the mergers announced rose on Day-1, albeit small "pops" and the majority of these SPACs are still trading below their NAV

PACX, LWAC, DCRN, FORE, PTK, LEGO

PACX, LWAC, DCRN, FORE, PTK, LEGO

SPAC IPOs

PSPC, FWAC, EGGF, DYNS, OTEC

PSPC, FWAC, EGGF, DYNS, OTEC

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SPAC S-1s

Noticeable uptick in new S-1s with 9 filing for over $1B of potential new SPAC capital. This brings the total number of SPACs waiting to price up to 279... a pretty substantial backlog. 

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Next Week's Merger Votes

Jun 04 DFHT - Deerfield Healthcare Technology Acquisitions Corp. --> CareMax Medical Group, LLC
Jun 04 GIX - GigCapital2, Inc. --> Cloudbreak Health, LLC
Jun 03 TSIA - TS Innovation Acquisitions Corp --> Latch, Inc.
Jun 03 JIH - Juniper Industrial Holdings, Inc. --> Janus International Group, LLC
Jun 02 JWS - Jaws Acquisition Corp --> Cano Health, LLC

Today's Biggest SPAC Gainers

STIC surged nearly 12% following its successful vote on Barkbox. Look out for this theme of newly successful merger votes seeing a sharp price in stock for the newly De-SPAC company. Where will SoFi trade next week when its ticker changes to SOFI? 

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11.81% ~ $ 11.17 | STIC - Northern Star Acquisition Corp (Announced)
6.70% ~ $ 18.15 | ACTC - ArcLight Clean Transition Corp (Announced)
5.50% ~ $ 12.66 | FTIV - FinTech Acquisition Corp. IV (Announced)
4.92% ~ $ 13.23 | JIH - Juniper Industrial Holdings, Inc. (Announced)
3.18% ~ $ 10.71 | TSIA - TS Innovation Acquisitions Corp (Announced)
3.13% ~ $ 14.51 | JWS - Jaws Acquisition Corp (Announced)
2.98% ~ $ 13.13 | FSRV - FinServ Acquisition Corp (Announced)
2.94% ~ $ 10.87 | FTCV - FinTech Acquisition Corp. V (Announced)
2.91% ~ $ 10.26 | CAPA - HighCape Capital Acquisition Corp (Announced)
2.79% ~ $ 9.94 | NGCA - NextGen Acquisition Corp. II (Pre-Deal)
2.61% ~ $ 12.96 | FST - FAST ACQ CP (Announced)
2.55% ~ $ 10.05 | FTAA - FTAC Athena Acquisition Corp. (Pre-Deal)
2.35% ~ $ 9.90 | OPA - Magnum Opus Acquisition Limited (Pre-Deal)
2.34% ~ $ 12.27 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
2.29% ~ $ 9.89 | TRCA - Twin Ridge Capital Acquisition Corp. (Pre-Deal)
2.28% ~ $ 11.20 | BCTG - BCTG Acquisition Corp. (Announced)
2.14% ~ $ 10.02 | LGV - Longview Acquisition Corp. II (Pre-Deal)

Today's Biggest SPAC Losers

-4.86% ~ $ 14.10 | GHVI - Gores Holdings VI Inc (Announced)
-4.36% ~ $ 10.30 | ARYD - ARYA Sciences Acquisition Corp IV (Pre-Deal)
-3.61% ~ $ 9.60 | GGMC - Glenfarne Merger Corp. (Pre-Deal)
-2.84% ~ $ 9.92 | FTCPA - FTAC Parnassus Acquisition Corp. (Pre-Deal)
-2.54% ~ $ 12.66 | CMLF - CM Life Sciences Inc (Announced)
-2.53% ~ $ 9.65 | AFAQ - AF Acquisition Corp. (Pre-Deal)
-2.24% ~ $ 9.61 | EJFA - EJF Acquisition Corp (Pre-Deal)
-2.11% ~ $ 9.75 | GNAC - GROUP NINE ACQUISITION CORP. (Pre-Deal)
-1.96% ~ $ 10.50 | SRAC - Stable Road Acquisition Corp. (Announced)
-1.86% ~ $ 10.55 | LCY - Landcadia Holdings III Inc (Announced)
-1.67% ~ $ 9.70 | MTAC - MedTech Acquisition Corporation (Pre-Deal)
-1.62% ~ $ 9.69 | SPKB - Silver Spike Acquisition Corp II (Pre-Deal)
-1.57% ~ $ 10.00 | PACE - TPG Pace Tech Opportunities Corp (Announced)
-1.43% ~ $ 9.64 | SCOB - ScION Tech Growth II (Pre-Deal)
-1.32% ~ $ 9.73 | IPVA - InterPrivate II Acquisition Corp. (Pre-Deal)
-1.31% ~ $ 9.80 | CLAA - Colonnade Acquisition Corp. II (Pre-Deal)
-1.30% ~ $ 9.85 | TETC - Tech and Energy Transition Corporation (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.)