This morning saw 2 M&A Deals get announced, and both slightly rose on the day. Yet merger "pops" remain relatively small and both SPACs are trading at discounts to NAV:
- PTK + Valens Semi: +0.6% to $9.94
- LEGO + Algoma Steel: +2.3% to $9.91
Post market, we got a bonus deal as Foresight Acquisition (FORE), who struck a deal with P3 Health Partners. The deal values the patient-centered and physician-led population health management company at $2.3B EV. The deal financing includes a $200M PIPE that is backed by Janus Henderson and funds managed by Fidelity.
FORE is trading +1.2% in after hours trading.
In other news...
Billionaire Robert Smith, founder of Vista Equity, is reportedly considering raising two SPACs (according to Bloomberg). These would be among the first splashy new SPAC filings since the SPAC market has lost a little bit of its luster.
Today's Biggest SPAC Gainers
7.96% ~ $ 14.64 | RSVA - Rodgers Silicon Valley Acquisition Corp (Announced)
5.55% ~ $ 11.79 | PSAC - Property Solutions Acquisition Corp (Announced)
5.05% ~ $ 14.36 | GHVI - Gores Holdings VI Inc (Announced)
5.02% ~ $ 15.89 | RICE - Rice Acquisition Corp. (Announced)
4.54% ~ $ 20.28 | CCIV - Churchill Capital Corp IV (Announced)
3.58% ~ $ 12.05 | CMII - CM Life Sciences II Inc. (Announced)
3.00% ~ $ 12.35 | CMLF - CM Life Sciences Inc (Announced)
2.89% ~ $ 12.44 | FSRV - FinServ Acquisition Corp (Announced)
2.75% ~ $ 13.09 | MUDS - Mudrick Capital Acquisition Corporation II (Announced)
2.27% ~ $ 9.91 | LEGO - LEGATO MERGER CORP. (Announced)
2.19% ~ $ 10.27 | ARYA - Arya Sciences Acquisition Corp III (Announced)
2.06% ~ $ 13.11 | DFHT - Deerfield Healthcare Technology Acquisitions Corp. (Announced)
2.02% ~ $ 20.18 | IPOE - Social Capital Hedosophia Holdings Corp V (Announced)
Today's Biggest SPAC Losers
-4.09% ~ $ 9.61 | FLME - Flame Acquisition Corp. (Pre-Deal)
-2.40% ~ $ 10.17 | SRAC - Stable Road Acquisition Corp. (Announced)
-2.29% ~ $ 9.83 | ACTDU - ArcLight Clean Transition Corp. II (Pre-Deal)
-2.18% ~ $ 9.88 | CFFE - CF Acquisition Corp. VIII (Pre-Deal)
-2.05% ~ $ 10.50 | FWAA - Fifth Wall Acquisition Corp. I (Announced)
-1.87% ~ $ 9.99 | IVAN - Ivanhoe Capital Acquisition Corp (Pre-Deal)
-1.85% ~ $ 11.12 | CLII - Climate Change Crisis Real Impact I Acquisition Corp (Announced)
-1.69% ~ $ 12.21 | BOWX - BowX Acquisition Corp (Announced)
-1.63% ~ $ 9.67 | ANZU - Anzu Special Acquisition Corp I (Pre-Deal)
-1.43% ~ $ 24.84 | PSTH - Pershing Square Tontine Holdings (Pre-Deal)
-1.29% ~ $ 9.75 | PTIC - PropTech Investment Corporation II (Pre-Deal)
-1.13% ~ $ 9.63 | MBAC - M3-Brigade Acquisition II Corp (Pre-Deal)
-1.10% ~ $ 9.89 | PRPC - CC Neuberger Principal Holdings III (Pre-Deal)
More from Boardroom Alpha
More from Boardroom Alpha For ongoing tracking, analytics, and data on SPACs checkout Boardroom Alpha's SPAC Data and Analytics service.
- 200 SPACs Under $10
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- SPACs Close Down Again on Sleepy Friday
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- Don't Rush into SPAC IPOs + DPCM Capital (XPOA) taking Jam City Public
- Crypto Crashed Loudly While SPACs Drop Quietly
- SPAC Market is Healthier Than Most Think
- TPGY/EVBox Deal Falling Apart Would be a Big Blow to SPACs
- Will Chamath's IPOE / SoFi Deal be Impacted by Clover's Whiff?
- 15 SPAC Mergers in 30 Days
- SPACs End Week on a High (Kind of)
- Will SPACs Rebound with the Market?
- Pitchforks out for Chamath and SPACs
- Exclusive SPAC Q&A: Better World Acquisition Corp (BWAC)
- SPACs Remain Discounted, Dell prices IPO
- SPAC Deals Lacking Punch + SWBK Taking Bird Public
- SPAC Stocks Continue Slide Despite M&A Activity
(Disclaimers: this is not investment advice. The author may be long one or more stocks mentioned in this report.)