Weekly SPAC Wrap - July 2

It was an active week in SPAC land, across all points of the SPAC lifecycle.
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The week felt similar to peak SPAC, without the volatility and skyrocketing price jumps. But the market was active, across all stages of the SPAC lifecycle. Overall, the week saw:

- 13 SPAC IPOs for over $3B
- 5 mergers announced for $6B in EV
- 10 SPACs voted thru their deals
- 7 SPACs filed preliminary S-1s for plans to go public

Sentiment feels back, yet muted. On the one hand IPOs are getting priced and deals are getting done. One the other hand, redemptions have been rising with several SPACs (HEC (63%), CRSA (61%), AACQ (61%), ACAC (53%)) exhibiting > 50% redemptions and some negative market reaction. 

For today's De-SPACs:

  • EVgo traded as EVGO, following completion of its merger with Climate Change Crisis Real Impact I (CLII). +0.67% to $15.10
  • Sharecare traded as SHCR following completion of its merger with Falcon Capital Acquisition Corp (FCAC). +3.67% to $9.33
  • AvePoint traded as AVPT following completion of its merger with Apex Technology Acquisition Corp (AXPT). -1.32% to $1.95

Weekly Rundown

New Mergers Announced

ISOS, TVAC, TREB, FSII, DFPH

ISOS, TVAC, TREB, FSII, DFPH

New IPOs Priced

SPAC IPOs were a big story this, and the last few weeks as a wave of pricings returned and it almost feeling like peak SPAC. Chamath, of course, was the highlight as his 4 new Biotech SPACs priced, and all were upsized from $200M --> $220M. Those SPACs, as well as several others from high profile sponsors, are trading above NAV. 

Jul 01 | $ 10.00 | FICV - Frontier Investment Corp
Jun 30 | $ 10.05 | GGGV - G3 VRM Acquisition Corp.
Jun 30 | $ 10.01 | CORS - Corsair Partnering Corporation
Jun 30 | $ 10.00 | DRAY - Macondray Capital Acquisition Corp. I
Jun 30 | $ 10.05 | DNAD - Social Capital Suvretta Holdings Corp. IV
Jun 30 | $ 10.04 | DNAB - Social Capital Suvretta Holdings Corp. II
Jun 30 | $ 10.05 | DNAC - Social Capital Suvretta Holdings Corp. III
Jun 30 | $ 10.04 | DNAA - Social Capital Suvretta Holdings Corp. I
Jun 29 | $ 9.90 | GOBI - Gobi Acquisition Corp.
Jun 29 | $ 10.02 | EOCW - Elliott Opportunity II Corp.
Jun 29 | $ 10.00 | SHQA - Shelter Acquisition Corporation I
Jun 29 | $ 9.90 | THCP - Thunder Bridge Capital Partners IV, Inc.
Jun 29 | $ 9.92 | MCAF - Mountain Crest Acquisition Corp. IV

New S-1s

7 new filings for nearly $1B in fresh SPAC capital, highlighted by Navigation Capital filing for 4 new SPACs on the same day. 

s1s72

Today's Price Action

Biggest Gainers

8.83% ~ $ 14.54 | THCB - Tuscan Holdings Corp. (Announced)
7.57% ~ $ 13.36 | TDAC - Trident Acquisitions Corp (Announced)
3.92% ~ $ 11.39 | VACQ - Vector Acquisition Corp (Announced)
3.57% ~ $ 13.62 | FST - FAST ACQ CP (Announced)
3.44% ~ $ 9.63 | ALUS - Alussa Energy Acquisition Corp (Announced)
3.38% ~ $ 14.07 | SRAC - Stable Road Acquisition Corp. (Announced)
2.23% ~ $ 10.53 | GNPK - Genesis Park Acquisition Corp (Announced)
1.92% ~ $ 10.64 | BLSA - BCLS Acquisition Corp. (Pre-Deal)
1.75% ~ $ 10.47 | NGCA - NextGen Acquisition Corp. II (Pre-Deal)
1.54% ~ $ 9.90 | SPKB - Silver Spike Acquisition Corp II (Pre-Deal)
1.33% ~ $ 12.53 | CMII - CM Life Sciences II Inc. (Announced)
1.33% ~ $ 9.89 | PFDR - Pathfinder Acquisition Corporation (Pre-Deal)
1.25% ~ $ 9.75 | WPF - Foley Trasimene Acquisition Corp. (Announced)
1.02% ~ $ 9.95 | MSDA - MSD Acquisition Corp. (Pre-Deal)
.98% ~ $ 12.33 | PDAC - Peridot Acquisition Corp (Announced)
.93% ~ $ 9.79 | RXRA - RXR Acquisition Corp (Pre-Deal)
.92% ~ $ 9.90 | CND - Concord Acquisition Corp (Pre-Deal)
.86% ~ $ 9.93 | EUCR - Eucrates Biomedical Acquisition Corp (Pre-Deal)

Biggest Losers

-11.54% ~ $ 8.89 | RACA - Therapeutics Acquisition Corp (Announced)
-4.93% ~ $ 14.86 | PSAC - Property Solutions Acquisition Corp (Announced)
-3.13% ~ $ 9.80 | FTCPA - FTAC Parnassus Acquisition Corp. (Pre-Deal)
-2.88% ~ $ 15.52 | GHVI - Gores Holdings VI Inc (Announced)
-2.53% ~ $ 27.02 | CCIV - Churchill Capital Corp IV (Announced)
-2.50% ~ $ 9.77 | BSKY - Big Sky Growth Partners, Inc. (Pre-Deal)
-2.07% ~ $ 13.70 | CMLF - CM Life Sciences Inc (Announced)
-2.06% ~ $ 11.40 | AGC - ALTIMETER GROWTH CORP (Announced)
-2.06% ~ $ 10.48 | DMYI - dMY Technology Group Inc III (Announced)
-2.05% ~ $ 10.50 | ARYD - ARYA Sciences Acquisition Corp IV (Pre-Deal)
-1.78% ~ $ 11.01 | BCTG - BCTG Acquisition Corp. (Announced)
-1.22% ~ $ 9.73 | HCAQ - HealthCor Catalio Acquisition Corp. (Pre-Deal)
-1.10% ~ $ 9.88 | SPRQ - Spartan Acquisition Corp II (Announced)
-1.02% ~ $ 9.71 | HLAH - Hamilton Lane Alliance Holdings I, Inc. (Pre-Deal)
-.99% ~ $ 9.99 | RMGB - RMG Acquisition Corporation II (Announced)
-.91% ~ $ 9.76 | FTAA - FTAC Athena Acquisition Corp. (Pre-Deal)
-.83% ~ $ 9.71 | FMIV - Forum Merger IV Corporation (Pre-Deal)
-.82% ~ $ 9.70 | LEGA - Lead Edge Growth Opportunities, Ltd (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.)