RIDE Continues its Fall, Fortress II (FAII) Votes Tomorrow

Lordstown Motors CEO Steve Burns resigned and shares fell another 19%. Fortress Value Acquisition II votes on its ATI Physical Therapy deal tomorrow.
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Light day on the SPAC front, with just 1 new deal and no new IPOs pricing or votes today. That being said, the last few weeks of June are still chock full of M&A votes and De-SPAcs to come. For today's news...

Seven Oaks Acquisition (SVOK) rose modestly +0.7% on its announced acquisition of Boxed for $640M - the sole M&A announcement of the morning.  

Look out for Fortress Value Acquisition II (FAII) vote tomorrow on its deal with ATI Physical Therapy, we've been noticing a lot of price action around vote-dates and De-SPACs in June. Fortress 1 has been a huge winner, with MP Materials trading steadily > $30. 

See below for a list of all upcoming merger votes. 

M&A Rumors..

Bloomberg is reporting that Goldman Sachs Acquisition Co II (GSAH) is in advanced talks to take nuclear measurement and analytics company Mirion Tech public in a $2.5B SPAC deal. GSAH dropped -2% on the news to close at $10.06

GS' first foray into SPACs resulted in Vertiv (de-SPAC Feb '20), which has returned over +100% since its de-SPAC date. 

Bloomberg is also reporting that Gaming & Hospitality Acquisition Corp (GHAC) is planning a merger with a new target on top of today's announcement that GHAC sponsor Affinity Gaming is merging with Sports Information Group. GHAC closed at $9.81. 

RIDE Plummets, Again

Lordstown Motors (RIDE) took another nosedive today, falling almost 19% on news that its CEO and CFO were resigning. While the company searches for a new CEO, director Angela Strand has been appointed Executive Chairwoman of the Company. The abrupt exit comes just a week after they issued a going concern about staying in business.  

The market will view this as a company-specific event, and shouldn't taint the overall SPAC market. Investors will be more acutely aware of the heightened risks, and volatile nature, of VC-like investments (i.e. pre-revenue highly speculative plays). Nonetheless it continues the free-fall for the once high-flying maker of EV trucks.

Alussa Energy Acquisition Corp. (ALUS) set its meeting shareholder meeting date as 6/30, with a record date of 4/30 for its merger with FREYR. 

Upcoming Merger Votes

Jun 15 | $ 9.95 | FAII - Fortress Value Acquisition Corp. II --> ATI Physical Therapy
Jun 16 | $ 10.02 | CRSA - Crescent Acquisition Corp --> LiveVox TopCo, LLC
Jun 17 | $ 10.00 | ACAC - Acies Acquisition Corp --> PlayStudios, Inc.
Jun 17 | $ 9.86 | HEC - Hudson Executive Investment Corp --> Talkspace
Jun 22 | $ 10.13 | TBA - Thoma Bravo Advantage --> ironSource
Jun 22 | $ 12.50 | FTIV - FinTech Acquisition Corp. IV --> Perella Weinberg Partners LLC
Jun 23 | $ 10.10 | FTOC - FTAC Olympus Acquisition Corp --> Payoneer Inc.
Jun 23 | $ 9.98 | AACQ - Artius Acquisition Inc. --> Origin Materials
Jun 24 | $ 10.26 | FRX - Forest Road Acquisition Corp --> Beachbody, LLC
Jun 24 | $ 10.02 | FIII - Forum Merger III Corporation --> Electric Last Mile, Inc.
Jun 28 | $ 10.77 | IACA - ION Acquisition Corp 1 Ltd --> Taboola
Jun 29 | $ 13.68 | CLII - Climate Change Crisis Real Impact I Acquisition Corp --> EVgo
Jun 29 | $ 10.01 | FCAC - Falcon Capital Acquisition Corp --> sharecare
Jun 29 | $ 10.28 | RACA - Therapeutics Acquisition Corp --> POINT Biopharma
Jun 30 | $ 10.46 | WPF - Foley Trasimene Acquisition Corp. --> Alight Solutions
Jun 30 | $ 10.97 | HOL - Holicity Inc --> Astra
Jun 30 | $ 10.09 | ALUS - Alussa Energy Acquisition Corp --> FREYR
Jun 30 | $ 11.63 | APXT - Apex Technology Acquisition Corporation --> AvePoint, Inc.

Today's Biggest Gainers

6.56% ~ $ 14.29 | LACQ - Leisure Acquisition Corp. (Announced)
5.94% ~ $ 10.35 | NGCA - NextGen Acquisition Corp. II (Pre-Deal)
4.49% ~ $ 11.16 | ARYA - Arya Sciences Acquisition Corp III (Announced)
4.49% ~ $ 11.63 | APXT - Apex Technology Acquisition Corporation (Announced)
4.46% ~ $ 11.47 | VGAC - VG Acquisition Corp (Announced)
3.64% ~ $ 11.97 | PDAC - Peridot Acquisition Corp (Announced)
2.47% ~ $ 9.95 | PLMI - Plum Acquisition Corp. I (Pre-Deal)
1.96% ~ $ 9.87 | PTOC - Pine Technology Acquisition Corp. (Pre-Deal)
1.54% ~ $ 9.87 | SBII - Sandbridge X2 Corp (Pre-Deal)
1.53% ~ $ 9.95 | NGC - Northern Genesis Acquisition Corp. III (Pre-Deal)
1.52% ~ $ 10.00 | GTPB - GORES TECHNOLOGY PARTNERS II, INC. (Pre-Deal)
1.48% ~ $ 9.87 | LIII - Leo Holdings III Corp (Pre-Deal)
1.42% ~ $ 10.74 | LEAP - Ribbit LEAP Ltd (Pre-Deal)
1.35% ~ $ 9.93 | GNAC - GROUP NINE ACQUISITION CORP. (Pre-Deal)
1.32% ~ $ 10.36 | BLSA - BCLS Acquisition Corp. (Pre-Deal)
1.32% ~ $ 10.77 | IACA - ION Acquisition Corp 1 Ltd (Announced)
1.26% ~ $ 10.08 | FVAM - 501 ACQ CORP (Pre-Deal)

Today's Biggest Losers

-7.18% ~ $ 12.03 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
-6.80% ~ $ 18.64 | RSVA - Rodgers Silicon Valley Acquisition Corp (Announced)
-5.05% ~ $ 12.22 | SRAC - Stable Road Acquisition Corp. (Announced)
-4.84% ~ $ 18.09 | ACTC - ArcLight Clean Transition Corp (Announced)
-4.06% ~ $ 24.12 | CCIV - Churchill Capital Corp IV (Announced)
-4.05% ~ $ 10.65 | AHAC - Alpha Healthcare Acquisition Corp (Announced)
-4.00% ~ $ 12.23 | TDAC - Trident Acquisitions Corp (Announced)
-3.50% ~ $ 13.24 | PSAC - Property Solutions Acquisition Corp (Announced)
-3.45% ~ $ 15.39 | GHVI - Gores Holdings VI Inc (Announced)
-3.38% ~ $ 12.56 | CMLF - CM Life Sciences Inc (Announced)
-2.81% ~ $ 12.09 | DCRC - Decarbonization Plus Acquisition Corporation III (Pre-Deal)
-2.81% ~ $ 9.70 | EBAC - European Biotech Acquisition Corp. (Pre-Deal)
-2.67% ~ $ 13.13 | THCB - Tuscan Holdings Corp. (Announced)
-2.59% ~ $ 9.79 | GTPA - Gores Technology Partners, Inc (Pre-Deal)
-2.44% ~ $ 9.60 | RKTA - Rocket Internet Growth Opportunities Corp. (Pre-Deal)
-2.39% ~ $ 18.79 | SSPK - Silver Spike Acquisition Corp. (Announced)
-2.39% ~ $ 10.22 | VACQ - Vector Acquisition Corp (Announced)