Those expecting a return of Merger Monday were sorely disappointed today as deals were kept on the sideline following the long weekend. Perhaps, given today’s more positive equity market environment, deals will follow later in the week.
We still hold the belief that opportunity is out there for SPACs at a discount offering a fantastic risk/reward proposition for investors. Keep your eye out for SPACs with announced deals that have strong sponsor track records and discounted pre-deal SPACs that offer decent yield with potential for solid upside.
New S-1 Filings
Vice Media Getting SPAC'ed?
According to reports, Vice has talked to several SPACs including 7GC, Group Nine (Ben Lerer), and Forest Road II (Kevin Mayer / Tom Staggs). The estimated price tag in the ~$2.5B range would be a steep discount to where they raised at a peak valuation of over $7B back in 2017. Several outlets have reported that they are close to striking a deal with 7GC.
Today's biggest winner was, no surprise, DMYD who shot up over 40%, following last week's announcement of its NFL deal.
SPAC Biggest Daily Gains
40.75% ~ $ 22.00 | DMYD - dMY Technology Group, Inc. II (Announced)
10.89% ~ $ 12.63 | NPA - New Providence Acquisition Corp (Announced)
7.43% ~ $ 13.15 | TDAC - Trident Acquisitions Corp (Announced)
6.43% ~ $ 11.75 | FTCV - FinTech Acquisition Corp. V (Announced)
6.03% ~ $ 13.71 | BOWX - BowX Acquisition Corp (Announced)
3.95% ~ $ 12.62 | DFHT - Deerfield Healthcare Technology Acquisitions Corp. (Announced)
3.66% ~ $ 9.90 | TBCP - Thunder Bridge Capital Partners III Inc. (Pre-Deal)
3.58% ~ $ 13.30 | JIH - Juniper Industrial Holdings, Inc. (Announced)
3.57% ~ $ 10.15 | ACII - Atlas Crest Investment Corp. II (Pre-Deal)
3.55% ~ $ 39.08 | BRPA - Big Rock Partners Acquisition Corp (Announced)
SPAC Biggest Daily Declines
-6.81% ~ $ 15.61 | CMLF - CM Life Sciences Inc (Announced)
-4.96% ~ $ 13.40 | GHVI - Gores Holdings VI Inc (Announced)
-4.53% ~ $ 19.39 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
-4.40% ~ $ 12.82 | FSRV - FinServ Acquisition Corp (Announced)
-4.03% ~ $ 13.10 | CLII - Climate Change Crisis Real Impact I Acquisition Corp (Announced)
-3.92% ~ $ 11.03 | VACQ - Vector Acquisition Corp (Announced)
-3.82% ~ $ 25.92 | STPK - Star Peak Energy Transition Corp (Announced)
-3.39% ~ $ 9.60 | CENH - Centricus Acquisition Corp. (Pre-Deal)
-3.36% ~ $ 10.08 | HZON - Horizon Acquisition Corporation II (Pre-Deal)
-3.28% ~ $ 23.00 | CCIV - Churchill Capital Corp IV (Announced)
-3.18% ~ $ 16.72 | IPOE - Social Capital Hedosophia Holdings Corp V (Announced)
-1.34% ~ $ 11.02 | IPOD - Social Capital Hedosophia Holdings Corp IV (Pre-Deal)
.75% ~ $ 10.73 | IPOF - Social Capital Hedosophia Holdings Corp VI (Pre-Deal)