Up and down day for stocks as the market was focused on mega-cap earnings reports due from the likes of MSFT, AMD, and GOOG. The tech heavy Nasdaq 100 dipped, while the S&P500 was relatively flat. Unsurprisingly, there was little mainstream attention towards SPACs today, although this morning did see a late deal announcement -- bringing the week's total to two. Expect deal flow to remain muted for the time being.
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This morning, Blue Water Acquisition Corporation (BLUW) struck a deal to take Clarus Therapeutics public in deal that values the company at a $252M EV. The only additional financing cited was $25M from existing Clarus shareholders H.I.G. Capital. BLUW closed slightly down on the day -0.4% -- a pretty underwhelming market reaction.
Sunday's deal announcement, Sports Entertainment Acquisition (SEAH), also barely budged today, trading up +0.1%.
Vesper Healthcare Acquisition (VSPR) went ex-redemption tonight, and closed close to NAV at $9.95. Similar to what we saw last week with GigCapital, it's important to keep an eye out for SPACs at redemption deadlines. VSPR has the potential to drop below $10 as shareholders no longer have the benefit to redeem at $10 + interest.
CCIV gave a little bit back following its latest surge speculation of an Apple deal, with shares falling 4.5% today.
Star Peak Energy Transition (STPK) passed its vote on the merger with Stem Inc., unsurprisingly with minimal redemptions as STPK closed at $25.87 today.
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Biggest SPAC Gainers
It was another big day for Mudrick Capital (MUDS), who is taking Topps public, as shares surged almost +13%.
14.10% ~ $ 44.50 | BRPA - Big Rock Partners Acquisition Corp (Announced)
12.99% ~ $ 15.83 | MUDS - Mudrick Capital Acquisition Corporation II (Announced)
5.26% ~ $ 11.80 | FTCV - FinTech Acquisition Corp. V (Announced)
4.91% ~ $ 12.19 | THCB - Tuscan Holdings Corp. (Announced)
4.32% ~ $ 17.40 | IPOE - Social Capital Hedosophia Holdings Corp V (Announced)
4.30% ~ $ 11.16 | HSAQ - Health Sciences Acquisitions Corporation 2 (Pre-Deal)
4.04% ~ $ 13.14 | DFHT - Deerfield Healthcare Technology Acquisitions Corp. (Announced)
3.54% ~ $ 11.98 | FST - FAST ACQ CP (Announced)
3.36% ~ $ 10.45 | NOAC - Natural Order Acquisition Corp (Pre-Deal)
2.87% ~ $ 10.03 | OHPA - Orion Acquisition Corp. (Pre-Deal)
Biggest SPAC 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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