SPACs Falter on Monday

SPAC stocks took a hit, along with the broader market, the DBDR / CompoSecure deal got no love and a bunch of units split.
Author:
Publish date:

SPAC stocks got hit on Monday, along with the broader equity markets, with GIK declining the most, over 10%. New issues remain on the sideline, with another goose egg today for SPAC IPOs. Which continues to beg the question, with over 250 Pre-IPO SPACs out there, are some being permanently shelved. 

This morning saw one deal announcement in SPAC land with Roman DBDR Tech Acquisition Corp (DBDR) striking a $1.2B deal to take CompoSecure Public. They are projecting a big 53% Net Rev CAGR '21-'25:

Source: Company Filings 

Source: Company Filings 

DBDR shares closed up a modest 0.2%. 

Elsewhere... Clover Health (CLOV) got another nice 10% jump today, as we wrote this morning on a potential short squeeze

Union Acquisition Corp II's (LATN) vote to extend its business combination deadline out to October 2021 passed, though almost $65M in shares were redeemed from the trust at a price of $10.07. We might start to see more share redemptions in other SPACs, particularly those trading at or below NAV, like LATN. Shares were flat today. 

Biggest SPAC Gainers

12.19% ~ $ 35.90 | BRPA - Big Rock Partners Acquisition Corp (Announced)
5.97% ~ $ 11.19 | SRAC - Stable Road Acquisition Corp. (Announced)
3.51% ~ $ 10.90 | VACQ - Vector Acquisition Corp (Announced)
3.06% ~ $ 10.10 | CSTA - Constellation Acquisition Corp I (Pre-Deal)
2.88% ~ $ 13.94 | CMLF - CM Life Sciences Inc (Announced)
2.22% ~ $ 19.81 | DMYD - dMY Technology Group, Inc. II (Announced)
1.94% ~ $ 18.37 | SSPK - Silver Spike Acquisition Corp. (Announced)
1.83% ~ $ 10.04 | ROCR - ROTH CH ACQUISITION III CO (Pre-Deal)
1.78% ~ $ 10.29 | FWAA - Fifth Wall Acquisition Corp. I (Pre-Deal)
1.75% ~ $ 11.02 | THCB - Tuscan Holdings Corp. (Announced)

Biggest SPAC Decliners

-10.33% ~ $ 9.03 | GIK - GigCapital3 Inc (Announced)
-8.34% ~ $ 14.39 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
-8.28% ~ $ 12.07 | BOWX - BowX Acquisition Corp (Announced)
-7.33% ~ $ 12.52 | AGC - ALTIMETER GROWTH CORP (Announced)
-6.26% ~ $ 13.03 | MUDS - Mudrick Capital Acquisition Corporation II (Announced)
-5.50% ~ $ 11.69 | VIH - VPC Impact Acquisition Holdings (Announced)
-5.40% ~ $ 14.19 | RSVA - Rodgers Silicon Valley Acquisition Corp (Announced)
-4.99% ~ $ 11.04 | CLII - Climate Change Crisis Real Impact I Acquisition Corp (Announced)

Separate Common, Warrants Trading Commenced

SRNG
HUGS
FSNB
KCAC
MACQ
WARR
GIIX
EJFA
ASZ
AUS
IBER

More from Boardroom Alpha

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