Best SPAC Opportunities for Monday

With the SPAC market slowing down and starting to clear out, some investors are looking for upside with announced deals. In addition, investors continue to look in the bargain bin for yield as well.
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Last week we saw the SPAC IPO market close for business with only 2 SPACs pricing. This is good news as the market needs to clear out so that investors can get excited again about good SPACs and good deals. Given that there has been no IPO pop and very little deal announcement pop lately -- though CMII and AJAX had a some -- SPAC investors are starting to look at a combination of strong sponsor/teams with SPACs that already have announced deals.

For an example of this strategy, look no further than last week's biggest pop which came from Niccolo De Masi and the DMY team. They have have been building a great SPAC track record (see Rush Street / RSI) and the momentum continues to build for them. On Thursday, Genius Sports, who DMYD is taking public, announced a new data partnership with the NFL, and subsequently, DMYD's stock took off like a rocket after hours, up almost 25%.

DMYD surged after hours on the news of the Genius Sports/NFL deal

DMYD surged after hours on the news of the Genius Sports/NFL deal

For investors who can find attractively-priced SPACs with announced deals, they have the following benefits:

  1. They can evaluate the sponsor's previous SPAC / investing track record. Have they been able to do deals and how have those deals performed over different time horizons.
  2. They can evaluate the existing deal narrative. Who is the target and do they believe in the narrative based on existing financials/business and the story being told about future path.
  3. They can benefit from an urgency from the SPAC and the target to announce great news. The best way for the SPAC and target to generate confidence in the plan is to announce great news just as we saw with the DMYD/Genius Sports team.
  4. They still have optionality and can decide to redeem if some extreme event happens where the deal sours.

So, for those looking for ideas on SPAC stocks with announced deals, here are a few:

TPG Pace Tech Opportunities Corp (PACE)
Sponsor: TPG
Target: Nerdy Inc.

Units
Last Close: $ 10.16
Discount/Premium: 1.5%

Common
Last Close: $ 9.96
Discount/Premium: -0.4%

Sponsor Track Record
Total SPACs: 8
Pre-IPO: 3
Pre-Deal: 0
Announced: 2
de-SPACs: 3

Avg. Return Since IPO: 21.5% 

GORES HOLDINGS V, INC. (GRSV)
Sponsor: Gores
Target: Ardagh Metal Packaging

Units
Last Close: $ 10.32
Discount/Premium: 3.2%

Common
Last Close: $ 10.02
Discount/Premium: 0.2%

Sponsor Track Record
Total SPACs: 10
Pre-IPO: 0
Pre-Deal: 4
Announced: 2
de-SPACs: 4

Avg. Return Since IPO: 9.4% 

CF Finance Acquisition Corp. III (CFAC)
Sponsor: Cantor Fitzgerald
Target: AEye, Inc.

Units
Last Close: $ 10.39
Discount/Premium: 3.9%

Common
Last Close: $ 10.02
Discount/Premium: 0.2%

Sponsor Track Record
Total SPACs: 8
Pre-IPO: 1
Pre-Deal: 4
Announced: 1
de-SPACs: 2

Avg. Return Since IPO: .2%

Churchill Capital Corp II (CCX)
Sponsor: M. Klein and Company
Target: Skillsoft

Common
Last Close: $ 10.04
Discount/Premium: 0.4%

Sponsor Track Record
Total SPACs: 8
Pre-IPO: 1
Pre-Deal: 3
Announced: 2
de-SPACs: 2

Avg. Return Since IPO: 38.5% 

Capitol Investment Corp V (CAP)
Sponsor: Capitol Investment Corp
Target: States Title Holding, Inc.

Units
Last Close: $ 10.50
Discount/Premium: 5.0%

Common
Last Close: $ 10.07
Discount/Premium: 0.7%

Sponsor Track Record
Total SPACs: 7
Pre-IPO: 2
Pre-Deal: 0
Announced: 1
de-SPACs: 4

Avg. Return Since IPO: 76.8% 

Forum Merger III Corporation (FIII)
Sponsor: Marshall Kiev, David Boris
Target: Electric Last Mile, Inc.

Units
Last Close: $ 10.71
Discount/Premium: 7.1%

Common
Last Close: $ 10.09
Discount/Premium: 0.9%

Sponsor Track Record
Total SPACs: 4
Pre-IPO: 0
Pre-Deal: 1
Announced: 1
de-SPACs: 2

Avg. Return Since IPO: 31.8% 

Fortress Value Acquisition Corp. II (FAII)
Sponsor: Fortress
Target: ATI Physical Therapy

Units
Last Close: $ 10.52
Discount/Premium: 5.2%

Common
Last Close: $ 10.09
Discount/Premium: 0.9%

Sponsor Track Record
Total SPACs: 6
Pre-IPO: 0
Pre-Deal: 3
Announced: 1
de-SPACs: 2

Avg. Return Since IPO: 49.3%

Andina Acquisition Corp. III (ANDA)
Sponsor: Julio A. Torres
Target: Stryve Foods, LLC

Units
Last Close: $ 12.23
Discount/Premium: 22.3%

Common
Last Close: $ 10.30
Discount/Premium: 3.0%

Sponsor Track Record
Total SPACs: 3
Pre-IPO: 0
Pre-Deal: 0
Announced: 1
de-SPACs: 2

Avg. Return Since IPO: 45.7%

And, here are SPACs without announced deals trading at the deepest discounts:

-5.20% ~ $ 9.48 | RPLA - Replay Acquisition Corp.
-4.50% ~ $ 9.55 | TBCP - Thunder Bridge Capital Partners III Inc.
-4.20% ~ $ 9.58 | CPTK - Crown PropTech Acquisitions
-4.00% ~ $ 9.60 | CENH - Centricus Acquisition Corp.
-3.85% ~ $ 9.62 | AGAC - African Gold Acquisition Corporation
-3.80% ~ $ 9.62 | DCRN - Decarbonization Plus Acquisition Corporation II
-3.60% ~ $ 9.64 | PUCK - Goal Acquisitions Corp.
-3.50% ~ $ 9.65 | SLCR - Silver Crest Acquisition Corporation
-3.50% ~ $ 9.65 | SDAC - Sustainable Development Acquisition I Corp.
-3.41% ~ $ 9.66 | BIOT - Biotech Acquisition Company
-3.40% ~ $ 9.66 | IGNY - Ignyte Acquisition Corp.
-3.40% ~ $ 9.66 | ITHX - ITHAX Acquisition Corp.
-3.30% ~ $ 9.67 | CAHC - CA Healthcare Acquisition Corp.
-3.30% ~ $ 9.67 | AEAC - Authentic Equity Acquisition Corp.
-3.20% ~ $ 9.68 | MDH - MDH Acquisition Corp.
-3.20% ~ $ 9.68 | TZPS - TZP Strategies Acquisition Corp.
-3.20% ~ $ 9.68 | ADRA - Adara Acquisition Corp.
-3.20% ~ $ 9.68 | GCAC - Growth Capital Acquisition Corp.
-3.20% ~ $ 9.68 | QFTA - Quantum FinTech Acquisition Corp
-3.20% ~ $ 9.68 | AKIC - Sports Ventures Acquisition Corp.
-3.20% ~ $ 9.68 | NRAC - Noble Rock Acquisition Corporation
-3.20% ~ $ 9.68 | OSTR - Oyster Enterprises Acquisition Corp.
-3.10% ~ $ 9.69 | PNTM - Pontem Corp
-3.10% ~ $ 9.69 | GFX - Golden Falcon Acquisition Corp.
-3.10% ~ $ 9.69 | EPWR - Empowerment & Inclusion Capital I Corp
-3.10% ~ $ 9.69 | EUCR - Eucrates Biomedical Acquisition Corp
-3.10% ~ $ 9.69 | TLGA - TLG Acquisition One Corp.
-3.00% ~ $ 9.70 | DNZ - D and Z Media Acquisition Corp.
-3.00% ~ $ 9.70 | ISLE - Isleworth Healthcare Acquisition Corp.
-3.00% ~ $ 9.70 | SHAC - SCP & CO Healthcare Acquisition Company

For on-going tracking, analytics, and data on SPACs checkout Boardroom Alpha's SPAC Intelligence service.