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It was quite the manic Monday morning for definitive agreements as 5 new deals announced, topped off with an additional deal termination.
✔️ Haymaker Acquisition Corp. III (HYAC) and Biote, $667M
✔️ SVF Investment Corp II (SVFC) and Symbotic, $4.8B
✔️ Global Consumer Acquisition (GCAQ) and GP Global/Luminex, $507M
✔️ Aries I Acquisition Corp. (RAM) and InfiniteWorld, $700M
✔️ AEA-Bridges Impact Corp (IMPX) and LiveWire, $1.8B
❌ SCVX and Bright Machines called off their deal
The big winner of the day may have been Harley-Davidson (HOG) who agreed to divest their EV motorcycle line LiveWire with AEA-Bridges Impact Corp (IMPX). HOG shares surged immediately, eventually giving some gains back but still ending the day up a nice +4.7% on the news. The SPAC shares also fared relatively well on the day with a decent +3.6% pop, while the warrants surged +73% to $1.4.
Overall, while 5 new DAs for a single day is certainly the highest we have seen in a while, the pace still materially lags the IPO market which has already seen another 29 in December compared 18 DAs and over 560 SPACs looking for deals.
Elsewhere in SPACs
Yucaipa Acquisition Corporation (YAC) shareholders approved its merger with SIGNA Sports and expects to close tomorrow 12/14 yet the SPAC saw ~92% of its trust ($318M) get redeemed at the vote. Look out for a low-float squeeze.
Americas Technology Acquisition Corp. (ATA) sponsors approved the first of 2 3-month extension options for them to complete a business combination. New interim deadline is now March-17. The sponsor will deposit an additional $1.15M into the trust.
SCVX Corp. (SCVX) and Bright Machines mutually agreed to terminate their business combination citing low likelihood of deal completion by the SPAC's deadline.
YAC kicked off the week with a high redemption vote, given where the other SPACs that are set to vote this week are trading, don't be surprised to see some nasty redemption numbers out there.
Dec 13 | $ 9.39 | YAC - Yucaipa Acquisition Corporation --> SIGNA Sports United
Dec 14 | $ 9.96 | ISOS - Isos Acquisition Corp. --> Bowlero
Dec 14 | $ 9.29 | BSN - Broadstone Acquisition Corp. --> Vertical Aerospace
Dec 16 | $ 9.80 | CMLT - CM Life Sciences III Inc. --> EQRx, Inc.
Dec 20 | $ 9.94 | CFV - CF Acquisition Corp. V --> Satellogic
Dec 21 | $ 9.97 | MACQ - MCAP Acquisition Corporation --> AdTheorent Inc.
Dec 21 | $ 9.97 | HCAQ - HealthCor Catalio Acquisition Corp. --> Hyperfine, Inc.
Dec 22 | $ 10.01 | SEAH - Sports Entertainment Acquisition Corp --> Super Group
Dec 23 | $ 10.14 | DBDR - Roman DBDR Tech Acquisition Corp. --> CompoSecure Holdings, L.L.C.
Dec 23 | $ 10.30 | FSII - FS Development Corp. II --> Pardes Biosciences, Inc
Dec 28 | $ 9.99 | NGCA - NextGen Acquisition Corp. II --> Virgin Orbit
Dec 28 | $ 9.98 | ATHN - Athena Technology Acquisition Corp. --> Heliogen
Jan 04 | $ 9.97 | VPCC - VPC Impact Acquisition Holdings III, Inc. --> DAVE INC.
Today's Price Action
31.43% ~ $ 18.40 | ESSC - East Stone Acquisition Corporation (Announced)
3.55% ~ $ 10.20 | IMPX - AEA-Bridges Impact Corp (Announced)
1.63% ~ $ 9.96 | ISOS - Isos Acquisition Corp. (Announced)
1.42% ~ $ 10.03 | IIAC - Investindustrial Acquisition Corp. (Announced)
1.33% ~ $ 12.19 | MEKA - MELI Kaszek Pioneer Corp (Pre-Deal)
.71% ~ $ 9.99 | SVFC - SVF Investment Corp. 3 (Announced)
.69% ~ $ 11.65 | GGPI - Gores Guggenheim, Inc (Announced)
.62% ~ $ 9.79 | HYAC - Haymaker Acquisition Corp. III (Announced)
.61% ~ $ 9.94 | CFV - CF Acquisition Corp. V (Announced)
.61% ~ $ 9.94 | ARTA - Artisan Acquisition Corp. (Announced)
.61% ~ $ 9.97 | LION - Lionheart III CORP (Pre-Deal)
.51% ~ $ 9.78 | SPTK - SportsTek Acquisition Corp. (Pre-Deal)
.51% ~ $ 9.89 | RACB - Research Alliance Corp. II (Pre-Deal)
.50% ~ $ 10.02 | RAM - Aries I Acquisition Corp (Announced)
.41% ~ $ 9.78 | CHWA - CHW Acquisition Corp (Pre-Deal)
.41% ~ $ 9.79 | BYTS - BYTE Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.79 | CPAA - Conyers Park III Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.82 | GHAC - Gaming & Hospitality Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.85 | GWII - Good Works II Acquisition Corp. (Pre-Deal)
.40% ~ $ 10.00 | AHPA - Avista Public Acquisition Corp. II (Pre-Deal)
-13.14% ~ $ 11.70 | CFVI - CF Acquisition Corp. VI (Announced)
-9.87% ~ $ 50.49 | DWAC - Digital World Acquisition Corp. (Announced)
-6.46% ~ $ 10.57 | XPDI - Power & Digital Infrastructure Acquisition Corp. (Announced)
-4.81% ~ $ 10.30 | FSII - FS Development Corp. II (Announced)
-4.05% ~ $ 9.72 | ARIZ - Arisz Acquisition Corp. (Pre-Deal)
-3.45% ~ $ 10.36 | SNII - Supernova Partners Acquisition Company II, Ltd. (Announced)
-2.93% ~ $ 9.29 | BSN - Broadstone Acquisition Corp. (Announced)
-2.85% ~ $ 9.88 | AXH - Industrial Human Capital, Inc. (Pre-Deal)
-2.27% ~ $ 9.90 | ONYX - Onyx Acquisition Co. I (Pre-Deal)
-2.22% ~ $ 10.11 | LEAP - Ribbit LEAP Ltd (Pre-Deal)
-1.71% ~ $ 9.80 | CMLT - CM Life Sciences III Inc. (Announced)
-1.57% ~ $ 10.01 | SEAH - Sports Entertainment Acquisition Corp (Announced)
-1.22% ~ $ 9.70 | GOBI - Gobi Acquisition Corp. (Pre-Deal)
-1.09% ~ $ 9.95 | NCAC - Newcourt Acquisition Corp (Pre-Deal)
-1.09% ~ $ 10.02 | IVAN - Ivanhoe Capital Acquisition Corp (Announced)
-.99% ~ $ 10.00 | SVFA - SVF Investment Corp. (Pre-Deal)
-.91% ~ $ 9.81 | MCAF - Mountain Crest Acquisition Corp. IV (Pre-Deal)
-.82% ~ $ 9.73 | ANZU - Anzu Special Acquisition Corp I (Pre-Deal)
-.80% ~ $ 9.98 | FTCV - FinTech Acquisition Corp. V (Announced)
-.79% ~ $ 10.02 | PIPP - Pine Island 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.)