Slow SPAC August Begins, Kredivo Strikes a Deal

Very little market activity to start off the first week of August. Kredivo and VPCB announced a Monday afternoon $2B SPAC Deal.
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The first week of August has certainly started off slow, no merger Monday and just one deal was announced. Post-market close on Monday VPC Impact Acquisition Holdings II (VPCB) announced a $2B EV deal to take Kredivo public - a leading consumer credit platform in Southeast Asia. 

VPCB is trading at a steep discount to NAV, $9,77, so it will be interesting to see if that creeps up at least closer to $10 when trading resumes today. Victory Park Capital now has definitive agreements for all 3 of its SPACs:

  • VPC Impact Acquisition Holdings I (VIH): $9.87, $1.19 --> BAKKT
  • VPC Impact Acquisition Holdings II (VPCB) $9.77, $1.25 --> Kredivo
  • VPC Impact Acquisition Holdings III (VPCC): $9.85, $1.63 --> Dave

IPOs were, surprisingly, quite active last week with 8 new issues hitting the market. A slower cadence to start this week, as just 1 so far has come to market:

Merger Votes

Gores kicks off the voting this week as GRSV is holding its vote for Ardagh Metal Packaging. GRSV is a rare SPAC currently trading at a premium, so investors won't expect much in way of redemptions on this one. 

Aug 03 | $ 10.27 | GRSV - GORES HOLDINGS V, INC. --> Ardagh Metal Packaging
Aug 05 | $ 9.90 | RTP - Reinvent Technology Partners --> Joby Aviation
Aug 05 | $ 9.88 | PDAC - Peridot Acquisition Corp --> Li-Cycle Corp
Aug 06 | $ 9.99 | SCPE - SC Health Corporation --> Rockley Photonics
Aug 09 | $ 10.00 | BCTG - BCTG Acquisition Corp. --> Tango Therapeutics

Yesterday's Price Action

Biggest Gainers

10.23% ~ $ 10.99 | NEBC - Nebula Caravel Acquisition Corporation (Announced)
3.81% ~ $ 11.17 | MUDS - Mudrick Capital Acquisition Corporation II (Announced)
2.80% ~ $ 10.27 | GRSV - GORES HOLDINGS V, INC. (Announced)
1.95% ~ $ 17.23 | RICE - Rice Acquisition Corp. (Announced)
1.84% ~ $ 9.85 | NGC - Northern Genesis Acquisition Corp. III (Pre-Deal)
1.69% ~ $ 10.86 | AGC - ALTIMETER GROWTH CORP (Announced)
1.52% ~ $ 10.00 | CFFE - CF Acquisition Corp. VIII (Pre-Deal)
1.51% ~ $ 10.09 | CHAQ - Chardan Healthcare Acquisition 2 Corp. (Announced)
1.44% ~ $ 9.84 | LCA - Landcadia Holdings IV, Inc. (Pre-Deal)
1.44% ~ $ 9.85 | BSGA - Blue Safari Group Acquisition Corp (Pre-Deal)
1.13% ~ $ 9.81 | ACII - Atlas Crest Investment Corp. II (Pre-Deal)
1.13% ~ $ 9.85 | REVH - Revolution Healthcare Acquisition Corp. (Pre-Deal)
1.09% ~ $ 9.26 | DGNR - Dragoneer Growth Opportunities Corp (Announced)
1.07% ~ $ 9.80 | TIOA - Tio Tech A (Pre-Deal)
.93% ~ $ 11.98 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
.92% ~ $ 9.82 | FACA - Figure Acquisition Corp. I (Pre-Deal)
.83% ~ $ 10.92 | TDAC - Trident Acquisitions Corp (Announced)
.83% ~ $ 9.74 | GGMC - Glenfarne Merger Corp. (Pre-Deal)

Biggest Losers

-4.00% ~ $ 9.61 | MCAF - Mountain Crest Acquisition Corp. IV (Pre-Deal)
-2.81% ~ $ 9.68 | IPVA - InterPrivate II Acquisition Corp. (Pre-Deal)
-2.34% ~ $ 9.58 | ORIA - Orion Biotech Opportunities Corp. (Pre-Deal)
-1.99% ~ $ 10.36 | BOWX - BowX Acquisition Corp (Announced)
-1.95% ~ $ 9.83 | BLSA - BCLS Acquisition Corp. (Pre-Deal)
-1.82% ~ $ 9.72 | WALD - Waldencast Acquisition Corp. (Pre-Deal)
-1.53% ~ $ 9.63 | EJFA - EJF Acquisition Corp (Pre-Deal)
-1.47% ~ $ 10.02 | VACQ - Vector Acquisition Corp (Announced)
-1.33% ~ $ 9.62 | ESM - ESM Acquisition Corporation (Pre-Deal)
-1.31% ~ $ 9.83 | OHPA - Orion Acquisition Corp. (Pre-Deal)
-1.23% ~ $ 9.65 | ITHX - ITHAX Acquisition Corp. (Pre-Deal)
-1.22% ~ $ 9.72 | DYNS - Dynamics Special Purpose Corp. (Pre-Deal)
-1.13% ~ $ 9.66 | SSAA - Science Strategic Acquisition Corp. Alpha (Pre-Deal)
-1.12% ~ $ 9.68 | LCAAU - L Catterton Asia Acquisition Corp (Pre-Deal)
-1.10% ~ $ 9.89 | TWND - Tailwind Acquisition Corp (Announced)
-1.07% ~ $ 10.14 | BTNB - Bridgetown 2 Holdings Limited (Announced)
-1.02% ~ $ 9.69 | MACA - Moringa Acquisition Corp (Pre-Deal)
-1.00% ~ $ 9.88 | PDAC - Peridot Acquisition Corp (Announced)

SPACs Trading at a Discount

-4.20% | ORIA - Orion Biotech Opportunities Corp. (Pre-Deal)
-4.00% | TUGC - TradeUP Global Corp (Pre-Deal)
-3.90% | GLHA - Glass Houses Acquisition Corp. (Pre-Deal)
-3.90% | EGGF - EG Acquisition Corp. (Pre-Deal)
-3.90% | MSAC - Medicus Sciences Acquisition Corp. (Pre-Deal)
-3.90% | MCAF - Mountain Crest Acquisition Corp. IV (Pre-Deal)
-3.80% | ESM - ESM Acquisition Corporation (Pre-Deal)
-3.80% | PSAG - Property Solutions Acquisition Corp. II (Pre-Deal)
-3.75% | BRIV - B. Riley Principal 250 Merger Corp. (Pre-Deal)
-3.70% | ARRW - Arrowroot Acquisition Corp. (Pre-Deal)
-3.70% | AGGR - Agile Growth Corp. (Pre-Deal)
-3.70% | PSPC - Post Holdings Partnering Corporation (Pre-Deal)
-3.70% | EJFA - EJF Acquisition Corp (Pre-Deal)
-3.60% | KSIC - Kadem Sustainable Impact Corporation (Pre-Deal)
-3.60% | CLBR - Colombier Acquisition Corp. (Pre-Deal)
-3.60% | FSNB - Fusion Acquisition Corp. II (Pre-Deal)
-3.60% | AFAQ - AF Acquisition Corp. (Pre-Deal)
-3.60% | RKTA - Rocket Internet Growth Opportunities Corp. (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.)