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AdTheorent (ADTH) and Hyperfine (HYPR) set to Make Public Debuts Amid Choppy SPAC Market

De-SPACs are on a rollercoaster, GLSPT announced a deal, and DBDR and FSII are set to vote tomorrow as the market wraps up before Christmas.

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With the market predominantly focused on Omicron, SPACs have taken a bit of a backseat this week with muted action and publicity. After Monday's merger banger (4 new deals announced) activity has slowed with just one deal announced each of Tuesday and Wednesday. 

While yesterday saw the likes of PL, QSI and ARQQ shoot up, today was a reminder that it could be a bumpy road in the near term as PL took a turn back down ~7% on the day. Though ARQQ continued its nice run gaining another +13.7% to close over $25.

Hyperfine closed its combination with HealthCor Catalio Acquisition (HCAQ) and will trade as HYPR tomorrow. 83% of shares were redeemed, and HCAQ closed up ~4.7% today.

AdTheorent closed its business combination with MCAP Acquisition (MACQ) and will trade as ADTH tomorrow. Still no redemption numbers on this one though MACQ closed down another 3% to $9.66, signaling high numbers. 

We wouldn't expect much more in terms of activity the balance of the week as the street makes their way home for the holidays. 

That said, we are still on track for ~6 de-spacs this week having completed 4 votes with two left to go. Those are still on tap for tomorrow, the last day of trading before the market shuts down on Christmas Eve: 

Dave CEO Jason Wilk joins the Podcast

FinTech Dave is going public via VPCC with shareholder vote set for early next year on January 4th. Jason Wilk discusses Dave and the deal on our latest podcast. 

Also, see the deal breakdown on Boardroom Alpha.

Global SPAC Partners deal with Gorilla Technology

The deal values Gorilla Technology Group at a $708M enterprise value, with no PIPE supporting the transaction. GLSPT shares dipped a bit lower today to $9.98. 

It was the 6th M&A deal to be announced this week, does anyone dare enter the market on the last trading day before Christmas?  

SPAC IPOs

Gardiner Healthcare (GDNR) priced a $75M SPAC IPO including 1 unit and 1 full warrant and $10.10 in trust. It's been a lighter relative week for IPOs with just 4 pricing thus far ahead of Christmas weekend. 

The story remains the same. Investors get sweeter terms in the form of higher warrant coverage and overfunded trusts, yet IPO still falters. 

Dec 21 | $ 10.02 | GDNR - Gardiner Healthcare Acquisitions Corp.
Dec 20 | $ 9.99 | SAGA - Sagaliam Acquisition Corp
Dec 20 | $ 9.99 | LSPR - Larkspur Health Acquisition Corp.
Dec 20 | $ 10.02 | NVAC - NorthView Acquisition Corp

SPAC Calendar

Dec 23 | $ 10.09 | DBDR - Roman DBDR Tech Acquisition Corp. --> CompoSecure Holdings, L.L.C.
Dec 23 | $ 10.00 | FSII - FS Development Corp. II --> Pardes Biosciences, Inc
Dec 28 | $ 9.98 | NGCA - NextGen Acquisition Corp. II --> Virgin Orbit
Dec 28 | $ 9.92 | ATHN - Athena Technology Acquisition Corp. --> Heliogen
Dec 30 | $ 9.90 | CFV - CF Acquisition Corp. V --> Satellogic
Jan 04 | $ 9.95 | VPCC - VPC Impact Acquisition Holdings III, Inc. --> DAVE INC.
Jan 06 | $ 10.20 | PAIC - Petra Acquisition Inc --> Revelation Biosciences, Inc
Jan 12 | $ 9.95 | DCRN - Decarbonization Plus Acquisition Corporation II --> Tritium
Jan 14 | $ 9.98 | MCMJ - Merida Merger Corp. I --> Leafly Holdings, Inc.
Jan 19 | $ 10.17 | VMAC - Vistas Media Acquisition Company Inc. --> Anghami

Recently Announced Deals

Dec 22 | $ 10.18 | GLSPT - Global SPAC Partners Co. --> Gorilla Technology Group Inc.
Dec 21 | $ 10.17 | ZNTE - Zanite Acquisition Corp. --> Eve
Dec 20 | $ 9.80 | ITHX - ITHAX Acquisition Corp. --> MONDEE HOLDINGS, LLC
Dec 20 | $ 10.11 | GLAQ - Globis Acquisition Corp. --> Forafric
Dec 20 | $ 9.85 | DYNS - Dynamics Special Purpose Corp. --> SENTI BIOSCIENCES, INC.
Dec 20 | $ 10.04 | LNFA - L&F Acquisition Corp --> ZeroFox, Inc.

Today's Price Action

Biggest Gainers

4.94% ~ $ 10.40 | DTRT - DTRT Health Acquisition Corp. (Pre-Deal)
4.43% ~ $ 10.60 | ATSPT - Archimedes Tech SPAC Partners Co (Announced)
2.84% ~ $ 11.57 | GGPI - Gores Guggenheim, Inc (Announced)
2.80% ~ $ 52.05 | DWAC - Digital World Acquisition Corp. (Announced)
2.03% ~ $ 11.58 | MEKA - MELI Kaszek Pioneer Corp (Pre-Deal)
1.29% ~ $ 10.17 | FLYA - SOAR Technology Acquisition Corp. (Pre-Deal)
1.23% ~ $ 9.89 | BLSA - BCLS Acquisition Corp. (Pre-Deal)
1.23% ~ $ 9.90 | SWSS - Springwater Special Situations Corp. (Pre-Deal)
1.00% ~ $ 10.09 | DBDR - Roman DBDR Tech Acquisition Corp. (Announced)
.90% ~ $ 10.06 | OTEC - OceanTech Acquisitions I Corp. (Pre-Deal)
.85% ~ $ 10.74 | ESSC - East Stone Acquisition Corporation (Announced)
.82% ~ $ 9.82 | PHIC - Population Health Investment Co Inc (Pre-Deal)
.81% ~ $ 9.94 | APSG - Apollo Strategic Growth Capital (Announced)
.78% ~ $ 10.38 | HUGS - USHG Acquisition Corp. (Announced)
.72% ~ $ 9.84 | FVAM - 501 ACQ CORP (Pre-Deal)
.71% ~ $ 9.87 | GSAQ - Global Synergy Acquisition Corp (Pre-Deal)
.66% ~ $ 9.96 | ARTA - Artisan Acquisition Corp. (Announced)
.62% ~ $ 9.74 | PFTA - Portage Fintech Acquisition Corp. (Pre-Deal)
.61% ~ $ 9.86 | XFIN - ExcelFin Acquisition Corp. (Pre-Deal)
.61% ~ $ 9.94 | OXUS - Oxus Acquisition Corp. (Pre-Deal)

Biggest Losers

-3.11% ~ $ 9.66 | MACQ - MCAP Acquisition Corporation (Announced)
-2.66% ~ $ 9.51 | ATMR - Altimar Acquisition Corp. II (Announced)
-1.61% ~ $ 9.77 | ROSE - Rose Hill Acquisition Corp (Pre-Deal)
-1.58% ~ $ 9.98 | GTAC - Global Technology Acquisition Corp. I (Pre-Deal)
-1.40% ~ $ 9.88 | ROCG - Roth CH Acquisition IV Co. (Pre-Deal)
-1.02% ~ $ 9.68 | SPTK - SportsTek Acquisition Corp. (Pre-Deal)
-1.02% ~ $ 9.70 | BGSX - Build Acquisition Corp. (Pre-Deal)
-.82% ~ $ 9.64 | MITA - Coliseum Acquisition Corp. (Pre-Deal)
-.61% ~ $ 9.71 | COVA - Crescent Cove Acquisition Corp. (Pre-Deal)
-.61% ~ $ 9.71 | ITQ - Itiquira Acquisition Corp. (Pre-Deal)
-.61% ~ $ 9.73 | CORS - Corsair Partnering Corporation (Pre-Deal)
-.61% ~ $ 9.74 | WPCB - Warburg Pincus Capital Corporation I—B (Pre-Deal)
-.61% ~ $ 9.77 | FTVI - FinTech Acquisition Corp. VI (Pre-Deal)
-.61% ~ $ 9.78 | GSEV - Gores Holdings VII (Pre-Deal)
-.60% ~ $ 9.90 | ACAQ - Athena Consumer Acquisition Corp. (Pre-Deal)
-.60% ~ $ 9.90 | CFV - CF Acquisition Corp. V (Announced)
-.60% ~ $ 9.91 | GCAC - Growth Capital Acquisition Corp. (Announced)
-.60% ~ $ 11.60 | CFVI - CF Acquisition Corp. VI (Announced)
-.59% ~ $ 10.14 | LVAC - LAVA Medtech Acquisition Corp. (Pre-Deal)
-.51% ~ $ 9.67 | GXII - GX Acquisition Corp. II (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.)