We noted this morning how Palantir was named as a participant in the PIPE for the MCAP Acquisition (MACQ) / AdTheorent deal, and also having been an active SPAC PIPE participant.
They were back in the news later in the day as it was announced that (PLTR) - Get Free Report led a new PIPE for Decarbonization Plus Acquisition Corp II's proposed deal for Tritium which was announced back in May, without any PIPE financing.
DCRN closed essentially flat today at $9.86. Whilst the size of the PIPE was not disclosed, perhaps rising redemptions in many SPACs caused the team to look for additional financing as a backstop? It remains to be seen.
More underwhelming performance from the SPAC IPO market, with both of today's new issue trading at a discount. Yet, SPAC IPOs will continue to price as long as there is demand, despite almost all recent new issues trading sub NAV:
Jul 26 | $ 10.00 | ALPA - ALPHA HEALTHCARE ACQUISITION CORP III
Jul 26 | $ 9.97 | WRAC - Williams Rowland Acquisition Corp.
Jul 22 | $ 9.90 | BLNG - Belong Acquisition Corp.
Jul 20 | $ 9.93 | PFTA - PORTAGE FINTECH ACQUISITION CORP.
Jul 20 | $ 9.98 | APAC - StoneBridge Acquisition Corp.
Jul 19 | $ 9.93 | TRTL - TortoiseEcofin Acquisition Corp. III
Jul 19 | $ 9.94 | CLAY - Chavant Capital Acquisition Corp.
Jul 19 | $ 10.14 | CLOE - Clover Leaf Capital Corp.
Upcoming Merger Votes
Jul 28 | $ 9.51 | NEBC - Nebula Caravel Acquisition Corporation --> Rover
Jul 28 | $ 9.79 | SVAC - Starboard Value Acquisition Corp --> Cyxtera
Jul 29 | $ 9.68 | RTPZ - Reinvent Technology Partners Z --> Hippo Enterprises Inc.
Jul 29 | $ 9.10 | DGNR - Dragoneer Growth Opportunities Corp --> CCC Information Services Inc.
Jul 30 | $ 9.24 | TWND - Tailwind Acquisition Corp --> QOMPLX, Inc.
Today's Price Action
2.79% ~ $ 9.95 | GLBL - Cartesian Growth Corporation (Pre-Deal)
2.64% ~ $ 10.10 | GIW - GigInternational1, Inc. (Pre-Deal)
2.48% ~ $ 9.90 | TLGA - TLG Acquisition One Corp. (Pre-Deal)
2.30% ~ $ 9.34 | ROCC - Roth CH Acquisition II Co. (Announced)
2.25% ~ $ 10.23 | LAAA - Lakeshore Acquisition I Corp. (Pre-Deal)
2.08% ~ $ 9.83 | OEPW - One Equity Partners Open Water I Corp. (Pre-Deal)
1.95% ~ $ 9.85 | RCLF - Rosecliff Acquisition Corp I (Pre-Deal)
1.65% ~ $ 9.83 | MACQ - MCAP Acquisition Corporation (Announced)
1.45% ~ $ 9.78 | TETC - Tech and Energy Transition Corporation (Pre-Deal)
1.45% ~ $ 9.79 | DHHC - DiamondHead Holdings Corp. (Pre-Deal)
1.34% ~ $ 9.80 | PMGM - Priveterra Acquisition Corp. (Pre-Deal)
1.24% ~ $ 9.78 | EJFA - EJF Acquisition Corp (Pre-Deal)
1.14% ~ $ 9.75 | TWNI - Tailwind International Acquisition Corp. (Pre-Deal)
1.04% ~ $ 9.74 | ANZU - Anzu Special Acquisition Corp I (Pre-Deal)
1.04% ~ $ 9.75 | AMPI - Advanced Merger Partners, Inc. (Pre-Deal)
1.04% ~ $ 9.75 | GXII - GX Acquisition Corp. II (Pre-Deal)
1.02% ~ $ 9.95 | MAQC - Maquia Capital Acquisition Corporation (Pre-Deal)
.93% ~ $ 9.72 | CPTK - Crown PropTech Acquisitions (Pre-Deal)
.93% ~ $ 9.75 | FSNB - Fusion Acquisition Corp. II (Pre-Deal)
.93% ~ $ 9.75 | DHBC - DHB Capital Corp. (Pre-Deal)
CAP loses 7.6% on the day of its deal vote, waiting to see how redemptions shake out there.
-7.59% ~ $ 8.89 | CAP - Capitol Investment Corp V (Announced)
-5.11% ~ $ 9.10 | DGNR - Dragoneer Growth Opportunities Corp (Announced)
-3.85% ~ $ 9.91 | RACB - Research Alliance Corp. II (Pre-Deal)
-3.27% ~ $ 10.65 | AGC - ALTIMETER GROWTH CORP (Announced)
-2.91% ~ $ 9.68 | RTPZ - Reinvent Technology Partners Z (Announced)
-2.84% ~ $ 9.24 | TWND - Tailwind Acquisition Corp (Announced)
-2.13% ~ $ 9.66 | GGMC - Glenfarne Merger Corp. (Pre-Deal)
-1.88% ~ $ 9.91 | CHAQ - Chardan Healthcare Acquisition 2 Corp. (Announced)
-1.50% ~ $ 10.53 | FTCV - FinTech Acquisition Corp. V (Announced)
-1.49% ~ $ 9.94 | BCTG - BCTG Acquisition Corp. (Announced)
-1.40% ~ $ 9.84 | FVAM - 501 ACQ CORP (Pre-Deal)
-1.40% ~ $ 9.88 | AGCB - Altimeter Growth Corp. 2 (Pre-Deal)
-1.39% ~ $ 12.08 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
-1.36% ~ $ 10.12 | CND - Concord Acquisition Corp (Announced)
-1.26% ~ $ 10.21 | PDAC - Peridot Acquisition Corp (Announced)
-1.14% ~ $ 9.51 | NEBC - Nebula Caravel Acquisition Corporation (Announced)
-1.12% ~ $ 9.67 | RKTA - Rocket Internet Growth Opportunities Corp. (Pre-Deal)
-1.11% ~ $ 9.79 | SVAC - Starboard Value Acquisition Corp (Announced)
-1.02% ~ $ 9.72 | FZT - FAST Acquisition Corp. II (Pre-Deal)
-.99% ~ $ 10.02 | SRAC - Stable Road Acquisition Corp. (Announced)
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.
- CCIV No Longer as LCID Begins Trading, and 7 SPACs Voting this week
- CCIV/Lucid is Official. Now What?
- Pre-Deal SPACs are Cheap
- SPACs Edge Higher, CCIV Shareholder Vote Tomorrow
- SPACs Fall with Stocks in Down Day
- A SPAC Risk Exposed?
- Ackman / PSTH Deal Falls Apart, and Merger Monday is Back
- RTPY Rises on Deal with Aurora, PFDR Strikes $1.4B Deal with Service Max
- Will Large Redemptions Force a Change in Sponsor Economics?
- SEC, Gensler Lay the Hammer on Stable Road (SRAC) & Momentus
- LCAP Rises on MSP Deal, ASPL Sees Huge Redemptions in Wheels Up Vote
- Lionheart Acquisition (LCAP) Announces $32.6B SPAC Deal with MSP Recovery
- Nextdoor Leads the Way in Busy Merger Week
- Despite Higher Activity Level SPACs Showing Some Weakness
- SPAC Deal Announcement Pops and Warrants Surge
- Hyperfine, Circle, and Alpha Tau Healthcare Get SPAC Deals
- Pre-Deal SPACs are Cheap
- Two New SPAC Deals (DMYQ, ATHN)
- Khosla Ventures Acquisition II Soars on Nextdoor Deal
- Khosla taking Nextdoor Public in $4.3B Deal and CF Acquisition Announced Satellogic $850M Deal
- Weekly SPAC Wrap - July 2
- Bowlero Gets a $2.6B SPAC Deal
- Chamath's Bio SPACs Rise, WPF has Large Redemptions
- Stable Road (SRAC) Cuts Deal Valuation in Half -- Market Loves It
- SPACs Flat, LACQ and IACA Votes Pass
- 10 SPAC Deal Votes Close Out June
- De-SPACs Get Set to Join the Russell 3000
- Weekly Director/CEO/CFO Moves: Matthew Furlong Takes the Helm at GameStop & EBAY Gets a New CFO
- Churchill (CCIV) & Lucid Sets its Vote Date
(Disclaimers: this is not investment advice. The author may be long one or more stocks mentioned in this report.)