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** SPAC Market Review - December 2021
We're now 4 trading days into 2022 and still haven't seen a new deal announcement in SPAC land. Yet, you can always count on Trump to keep some excitement going.
It's being reported that Trump's Truth Social app will be available in App stores beginning Feb-21. The news caused both Trump related SPACs to jump in price:
- Digital World Acquisition (DWAC) surged nearly +20% to $60.3, where it remains highest trading pre-close SPAC by far. DWAC is taking Trump Media and Technology Group (the parent of Truth Social) public via their SPAC
- CF Acquisition Corp. VI (CFVI) also popped +2.10% to $12.17, making it the SPAC trading at the 3rd highest premium, behind just DWAC and ESSC. CFVI's target, Rumble, has announced that it intends to partner with Truth Social
As always DWAC continues to be the most lucrative, yet by far the most volatile SPAC.
Screaming Eagle Lands $750M in Mega SPAC IPO
Jeff Sagansky, Harry Sloan, and Eli Baker's Eagle Equity Partners, the SPAC veterans behind the likes of stars DraftKings (DKNG) and laggard Skillz (SKLZ), priced a fresh $750M SPAC IPO for Screaming Eagle Acquisition Corp (SCRMU).
Not only is it the biggest SPAC IPO since March 2021, but it also got priced at far below market terms for the the current state of SPAC IPOs. The units priced with 1/3 warrant coverage (vs. 1/2) and a vanilla $10 in trust. What is this, February 2021?
It shows that there is still demand for SPAC capital from proven (even with a mixed track record), serial sponsors in SPACs. Screaming Eagle's units fell 1% to close at $9.90, on a little over 20M in volume.
Elsewhere in SPACs
DAVE closed up +3.1 to $8.53 on its first day trading as DAVE post closing its SPAC merger with VPCC. Still no word on redemption figures from the shareholder vote.
Gores Metropoulos II (GMII) and Sonder provided a business update ahead of their shareholder vote next week, 1/14. Side note, we'll be having Sonder CEO Francis Davidson on the podcast next week to discuss the company + deal.
Benessere Capital (BENE) will try again tomorrow, 1/7, to receive shareholder approval on an exemption for its SPAC.
Upcoming merger votes:
Jan 11 | $ 9.94 | CPSR - Capstar Special Purpose Acquisition Corp. --> Gelesis Inc
Jan 12 | $ 9.77 | DCRN - Decarbonization Plus Acquisition Corporation II --> Tritium
Jan 14 | $ 9.99 | MCMJ - Merida Merger Corp. I --> Leafly Holdings, Inc.
Jan 14 | $ 9.95 | GMII - Gores Metropoulos II, Inc. --> Sonder Holdings Inc.
Jan 19 | $ 10.18 | VMAC - Vistas Media Acquisition Company Inc. --> Anghami
Jan 19 | $ 10.11 | XPDI - Power & Digital Infrastructure Acquisition Corp. --> Core Scientific, Inc.
Jan 20 | $ 9.96 | TREB - Trebia Acquisition Corp --> System1
Today's Price Action
19.65% ~ $ 60.27 | DWAC - Digital World Acquisition Corp. (Announced)
13.18% ~ $ 14.77 | ESSC - East Stone Acquisition Corporation (Announced)
2.95% ~ $ 10.13 | DPCS - DP Cap Acquisition Corp I (Pre-Deal)
2.30% ~ $ 9.77 | NPAB - New Providence Acquisition Corp. II (Pre-Deal)
2.10% ~ $ 12.17 | CFVI - CF Acquisition Corp. VI (Announced)
1.24% ~ $ 9.80 | ZT - Zimmer Energy Transition Acquisition Corp. (Pre-Deal)
.72% ~ $ 9.76 | HWKZ - Hawks Acquisition Corp (Pre-Deal)
.70% ~ $ 10.00 | UPTD - TradeUP Acquisition Corp (Pre-Deal)
.60% ~ $ 9.98 | USCT - TKB Critical Technologies 1 (Pre-Deal)
.51% ~ $ 9.86 | MSDA - MSD Acquisition Corp. (Pre-Deal)
.51% ~ $ 9.95 | FTCV - FinTech Acquisition Corp. V (Announced)
.41% ~ $ 9.72 | GFOR - Graf Acquisition Corp. IV (Pre-Deal)
.41% ~ $ 9.74 | LCAA - L Catterton Asia Acquisition Corp (Pre-Deal)
.41% ~ $ 9.77 | CLRM - Clarim Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.77 | OEPW - One Equity Partners Open Water I Corp. (Pre-Deal)
.41% ~ $ 9.82 | EUCR - Eucrates Biomedical Acquisition Corp (Pre-Deal)
.41% ~ $ 9.87 | FACA - Figure Acquisition Corp. I (Pre-Deal)
.40% ~ $ 9.96 | SEAH - Sports Entertainment Acquisition Corp (Announced)
.40% ~ $ 10.05 | FPAC - Far Peak Acquisition Corp (Announced)
.39% ~ $ 10.20 | SBEA - SilverBox Engaged Merger Corp I (Announced)
-4.80% ~ $ 9.71 | BRIV - B. Riley Principal 250 Merger Corp. (Pre-Deal)
-4.15% ~ $ 9.25 | PAIC - Petra Acquisition Inc (Announced)
-1.91% ~ $ 9.77 | DCRN - Decarbonization Plus Acquisition Corporation II (Announced)
-1.87% ~ $ 11.04 | GGPI - Gores Guggenheim, Inc (Announced)
-1.70% ~ $ 11.01 | MEKA - MELI Kaszek Pioneer Corp (Pre-Deal)
-1.68% ~ $ 9.93 | LGST - Semper Paratus Acquisition Corp (Pre-Deal)
-1.32% ~ $ 9.71 | INTE - Integral Acquisition Corp 1 (Pre-Deal)
-1.10% ~ $ 9.90 | DTRT - DTRT Health Acquisition Corp. (Pre-Deal)
-1.06% ~ $ 9.83 | CFV - CF Acquisition Corp. V (Announced)
-1.01% ~ $ 9.80 | AACI - Armada Acquisition Corp. I (Announced)
-.97% ~ $ 10.08 | FLYA - SOAR Technology Acquisition Corp. (Pre-Deal)
-.90% ~ $ 9.90 | AEAE - AltEnergy Acquisition Corp (Pre-Deal)
-.90% ~ $ 9.91 | HTAQ - Hunt Companies Acquisition Corp. I (Pre-Deal)
-.82% ~ $ 9.72 | BGSX - Build Acquisition Corp. (Pre-Deal)
-.81% ~ $ 9.83 | NMMC - North Mountain Merger Corp (Announced)
-.72% ~ $ 9.66 | DALS - DA32 Life Science Tech Acquisition Corp. (Pre-Deal)
-.72% ~ $ 9.72 | CPAR - Catalyst Partners Acquisition Corp. (Pre-Deal)
-.71% ~ $ 9.79 | PSPC - Post Holdings Partnering Corporation (Pre-Deal)
-.70% ~ $ 9.90 | ACTD - ArcLight Clean Transition Corp. II (Announced)
-.69% ~ $ 10.04 | LNFA - L&F Acquisition Corp (Announced)
More from Boardroom Alpha
For ongoing tracking, analytics, and data on SPACs checkout Boardroom Alpha's SPAC Data and Analytics service.
Monthly SPAC Market Review
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The Know Who Drives Return Podcast (all episodes)
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(Disclaimers: this is not investment advice. The author may be long one or more stocks mentioned in this report.)