Break in the SPAC Action Ahead of July 4th

Expect a quiet day for SPACs leading into July 4 Weekend. IPOs are back, but many recent ones have been downsized.
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Things had been heating up in SPAC land with a barrage of merger votes, IPOs coming back, and merger announcements helping to clear the backlog of Pre-Deal SPACs. We'd expect a few days of a break given the upcoming July 4th holiday this weekend. No mergers or IPOs this morning (as of this writing), and no votes on the docket for the day. 

A few new De-SPACs will begin to start trading today under their new tickers:

- EVgo will trade as EVGO, following completion of its merger with Climate Change Crisis Real Impact I (CLII)
- Sharecare will trade as SHCR following completion of its merger with Falcon Capital Acquisition Corp (FCAC)
AvePoint will trade as AVPT following completion of its merger with Apex Technology Acquisition Corp (AXPT)

ICYMI: Yesterday's 4 IPOs were a mixed bag:

+0.1% | $ 10.10 | GGGV - G3 VRM Acquisition Corp.
-0.6% | $ 9.94 | CORS - Corsair Partnering Corporation
unch | $ 10.00 | DRAY - Macondray Capital Acquisition Corp. I
-0.1% | $9.99 | FICV - Frontier Investment Corp

Both CORS and FICV ended below NAV -- perhaps unsurprising given both were downsized.

Overall, recent IPOs are, on average trading a bit below NAV now and sponsors will need to make sure they don't get greedy and push too much new supply into the market and upset the improving balance. On that note, Apollo filed an S-1/A downsizing its latest SPAC by $100M. 

Looking Ahead at July SPAC Votes

July is getting set to be another big month of deal votes as well. There will be a bit of a break during the July 4th holiday week, but then we'll start seeing votes happening regularly throughout the month.

Jul 08 | $ 9.99 | SPRQ - Spartan Acquisition Corp II --> Sunlight Financial LLC
Jul 12 | $ 24.59 | RSVA - Rodgers Silicon Valley Acquisition Corp --> Enovix Corp
Jul 12 | $ 9.98 | ASPL - Aspirational Consumer Lifestyle Corp --> Wheels Up Partners Holdings LLC
Jul 13 | $ 12.45 | LCY - Landcadia Holdings III Inc --> The Hillman Group, Inc.
Jul 13 | $ 9.99 | AONE - one --> Markforged
Jul 14 | $ 10.03 | EMPW - Empower Ltd --> Holley
Jul 15 | $ 10.31 | DCRB - Decarbonization Plus Acquisition Corp --> Hyzon Motors Inc.
Jul 16 | $ 13.36 | THCB - Tuscan Holdings Corp. --> Microvast, Inc.
Jul 19 | $ 10.30 | ANDA - Andina Acquisition Corp. III --> Stryve Foods, LLC
Jul 20 | $ 9.96 | ACND - Ascendant Digital Acquisition Corp --> Beacon Street Group
Jul 20 | $ 15.63 | PSAC - Property Solutions Acquisition Corp --> Faraday Future
Jul 20 | $ 9.97 | RAAC - Revolution Acceleration Acquisition Corp --> Berkshire Grey
Jul 21 | $ 10.01 | VCVC - 10X Capital Venture Acquisition Corp --> REE Automotive Ltd.

Yesterday's Price Action

Biggest Gainers
11.35% ~ $ 13.15 | FST - FAST ACQ CP (Announced)
7.05% ~ $ 24.59 | RSVA - Rodgers Silicon Valley Acquisition Corp (Announced)
3.66% ~ $ 10.12 | FTCPA - FTAC Parnassus Acquisition Corp. (Pre-Deal)
2.19% ~ $ 10.27 | RACA - Therapeutics Acquisition Corp (Announced)
2.05% ~ $ 12.44 | FTCV - FinTech Acquisition Corp. V (Announced)
1.68% ~ $ 10.87 | LEAP - Ribbit LEAP Ltd (Pre-Deal)
1.53% ~ $ 9.93 | EPWR - Empowerment & Inclusion Capital I Corp (Pre-Deal)
1.43% ~ $ 9.94 | LGV - Longview Acquisition Corp. II (Pre-Deal)
1.41% ~ $ 10.09 | RMGB - RMG Acquisition Corporation II (Announced)
1.39% ~ $ 10.24 | GRSV - GORES HOLDINGS V, INC. (Announced)
1.12% ~ $ 9.89 | NOAC - Natural Order Acquisition Corp (Pre-Deal)
1.11% ~ $ 10.00 | DKDCA - Data Knights Acquisition Corp. (Pre-Deal)
1.01% ~ $ 13.00 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
.86% ~ $ 9.93 | EUCR - Eucrates Biomedical Acquisition Corp (Pre-Deal)
.83% ~ $ 9.74 | EQHA - EQ Health Acquisition Corp (Pre-Deal)
.82% ~ $ 12.36 | CMII - CM Life Sciences II Inc. (Announced)
.80% ~ $ 10.08 | SVAC - Starboard Value Acquisition Corp (Announced)
.72% ~ $ 9.73 | JOFF - JOFF Fintech Acquisition Corp (Pre-Deal)
.72% ~ $ 9.77 | FRWA - PWP Forward Acquisition Corp. I (Pre-Deal)

Biggest Losers
-3.82% ~ $ 27.72 | CCIV - Churchill Capital Corp IV (Announced)
-2.88% ~ $ 11.96 | FWAA - Fifth Wall Acquisition Corp. I (Announced)
-2.58% ~ $ 13.61 | SRAC - Stable Road Acquisition Corp. (Announced)
-1.99% ~ $ 9.85 | GTPA - Gores Technology Partners, Inc (Pre-Deal)
-1.98% ~ $ 13.36 | THCB - Tuscan Holdings Corp. (Announced)
-1.96% ~ $ 10.00 | HSAQ - Health Sciences Acquisitions Corporation 2 (Pre-Deal)
-1.66% ~ $ 12.42 | TDAC - Trident Acquisitions Corp (Announced)
-1.63% ~ $ 9.71 | CFV - CF Acquisition Corp. V (Pre-Deal)
-1.49% ~ $ 11.21 | BCTG - BCTG Acquisition Corp. (Announced)
-1.45% ~ $ 10.20 | HLXA - HELIX ACQUISITION CORP (Pre-Deal)
-1.43% ~ $ 9.63 | WPF - Foley Trasimene Acquisition Corp. (Announced)
-1.42% ~ $ 15.98 | GHVI - Gores Holdings VI Inc (Announced)
-1.42% ~ $ 9.73 | GSQD - G Squared Ascend I Inc. (Pre-Deal)
-1.27% ~ $ 10.07 | BTNB - Bridgetown 2 Holdings Limited (Pre-Deal)
-1.22% ~ $ 9.73 | NSTD - Northern Star Investment Corp. IV (Pre-Deal)
-1.20% ~ $ 9.86 | MACU - Mallard Acquisition Corp (Pre-Deal)
-1.10% ~ $ 22.51 | PSTH - Pershing Square Tontine Holdings (Announced)
-1.06% ~ $ 10.29 | GSAH - GS Acquisition Holdings Corp II (Announced)

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