Skip to main content

Still Waiting for a 2022 SPAC Deal as Capstar Sets Redemption Record

Capstar Special Purpose Acquisition Co. (CPSR) announced a whopping 98.8% redemption ahead of Gelesis vote.

----------------------------------------------------
Free Investor Resources from Boardroom Alpha
----------------------------------------------------
** Podcast: Know Who Drives Return
** Daily SPAC Newsletter
** Full SPAC Listing
** SPAC Market Review - December 2021

We're over a week into 2022 and the SPAC market is still waiting for its first deal. That's right, we remain stuck at a grand total of 0 new SPAC M&A deals announced this year. With a glut of SPACs searching (and some M&A rumors were heating up) you'd think it's only a matter of time before the floodgates start to open. 

Redemption Record

Over 27M shares redeemed ahead of tomorrow's shareholder vote on the Capstar Special Purpose Acquisition Co (CPSR) /  Gelesis deal. According to our Boardroom Alpha data, the 98.8% of redemptions is the highest on record for a non-liquidated SPAC. It leaves just $3.4M in the SPAC's trust. 

Back in November the SPAC slashed Gelesis' valuation from $900M to $675M. The vote is expected to pass, despite the desertion by its shareholders. CSPR shares popped +1.6% to $9.89. 

Previous high redemptions:

redems110

Elsewhere in SPACs

Social Capital Suvretta I (DNAA) rose slightly on the day following a weekend rumor of being in talks with Akili Interactive. 

Decarbonization Plus Acquisition Corporation II (DCRN) put out a press release announcing they expect stockholders to approve Tritium deal. 

Merger vote dates set for:

  • MBAC / Syniverse for Feb-9
  • IVAN / SES Holdings for Feb-1

SPAC Calendar

Capstar kicks things off tomorrow with 3 more votes on the docket for the week. 

Today's Price Action

Biggest Gainers

4.04% ~ $ 12.09 | CFVI - CF Acquisition Corp. VI (Announced)
3.58% ~ $ 55.91 | DWAC - Digital World Acquisition Corp. (Announced)
2.30% ~ $ 9.77 | NPAB - New Providence Acquisition Corp. II (Pre-Deal)
1.68% ~ $ 10.00 | CFV - CF Acquisition Corp. V (Announced)
1.64% ~ $ 9.89 | CPSR - Capstar Special Purpose Acquisition Corp. (Announced)
1.43% ~ $ 9.94 | LCW - Learn CW Investment Corp (Pre-Deal)
1.14% ~ $ 9.76 | PEGR - Project Energy Reimagined Acquisition Corp. (Pre-Deal)
.91% ~ $ 9.99 | DTRT - DTRT Health Acquisition Corp. (Pre-Deal)
.80% ~ $ 11.38 | GGPI - Gores Guggenheim, Inc (Announced)
.70% ~ $ 10.00 | IOAC - Innovative International Acquisition Corp. (Pre-Deal)
.62% ~ $ 9.85 | FHLT - Future Health ESG Corp. (Pre-Deal)
.61% ~ $ 9.84 | BMAQ - Blockchain Moon Acquisition Corp. (Pre-Deal)
.52% ~ $ 9.68 | ALPA - ALPHA HEALTHCARE ACQUISITION CORP III (Pre-Deal)
.51% ~ $ 9.76 | PANA - Panacea Acquisition Corp. II (Pre-Deal)
.51% ~ $ 9.85 | FWAC - Fifth Wall Acquisition Corp. III (Pre-Deal)
.51% ~ $ 9.90 | MTRY - Monterey Bio Acquisition Corp (Pre-Deal)
.51% ~ $ 9.92 | MCAE - Mountain Crest Acquisition Corp. III (Pre-Deal)
.51% ~ $ 9.95 | ACDI - Ascendant Digital Acquisition Corp. III (Pre-Deal)
.50% ~ $ 10.00 | ROCG - Roth CH Acquisition IV Co. (Pre-Deal)
.49% ~ $ 9.87 | WQGA - World Quantum Growth Acquisition Corp (Pre-Deal)

Biggest Losers

-9.76% ~ $ 8.32 | PAIC - Petra Acquisition Inc (Announced)
-6.10% ~ $ 9.85 | INTE - Integral Acquisition Corp 1 (Pre-Deal)
-1.61% ~ $ 9.78 | BLSA - BCLS Acquisition Corp. (Pre-Deal)
-1.57% ~ $ 8.78 | DCRN - Decarbonization Plus Acquisition Corporation II (Announced)
-1.31% ~ $ 9.82 | GTPA - Gores Technology Partners, Inc (Pre-Deal)
-1.28% ~ $ 9.63 | GOBI - Gobi Acquisition Corp. (Pre-Deal)
-1.11% ~ $ 9.79 | LVRA - Levere Holdings Corp (Pre-Deal)
-1.11% ~ $ 9.84 | DNAB - Social Capital Suvretta Holdings Corp. II (Pre-Deal)
-1.10% ~ $ 9.85 | PEPL - PepperLime Health Acquisition Corp (Pre-Deal)
-1.10% ~ $ 9.89 | XFIN - ExcelFin Acquisition Corp. (Pre-Deal)
-1.10% ~ $ 9.89 | AEAE - AltEnergy Acquisition Corp (Pre-Deal)
-1.05% ~ $ 10.35 | HUGS - USHG Acquisition Corp. (Announced)
-1.02% ~ $ 9.74 | CLRM - Clarim Acquisition Corp. (Pre-Deal)
-1.00% ~ $ 10.88 | MEKA - MELI Kaszek Pioneer Corp (Pre-Deal)
-.96% ~ $ 9.75 | LHAA - Lerer Hippeau Acquisition Corp (Pre-Deal)
-.92% ~ $ 9.71 | TPBA - TPB Acquisition Corporation I (Pre-Deal)
-.92% ~ $ 9.71 | IPVI - InterPrivate IV InfraTech Partners Inc. (Pre-Deal)
-.92% ~ $ 9.73 | CPAR - Catalyst Partners Acquisition Corp. (Pre-Deal)
-.91% ~ $ 9.79 | YTPG - TPG Pace Beneficial II Corp. (Pre-Deal)
-.90% ~ $ 9.90 | IQMD - Intelligent Medicine Acquisition Corp. (Pre-Deal)

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

Exec Moves (all issues)

The Know Who Drives Return Podcast (all episodes)

(Disclaimers: this is not investment advice. The author may be long one or more stocks mentioned in this report.)