It's going to be merger madness over the course of the next month, and today saw the debut (really, ticker change) of SoFi (SOFI) the now De-SPAC'ed Social Capital Hedosophia V (IPOE). SOFI jumped up as much as 12% intra-day and closed up over 3% - a nice return for the stock which is already trading in the $20s (over 2x from IPOE's $10 IPO price).
Strong De-SPAC performance could be a large determinant of companies' appetite to go public via a SPAC. Remember, De-SPACs haven't been that bad, despite the common narrative in the media.
Light day in SPAC news otherwise, no new mergers, IPOs or S-1s post Memorial Day Weekend. Though G-Squared Ascend II filed an amended S-1 ahead of its proposed 2nd SPAC offering, raising warrant coverage from 1/5 to 1/3 per unit. This follows the trend of IPOs being harder to price, as we've been seeing downsizes and amendments to make the offerings more investor friendly.
Look for activity to potentially pick up as the short week rolls on.
Today's Biggest SPAC Losers
Perhaps Mudrick Capital's splashy day, it bought shares of (AMC) - Get AMC Entertainment Holdings, Inc. Class A Report in an offering and subsequently sold down its entire position at a profit, somehow led to a selloff in its SPAC, falling ~15%. The SPAC, which has a pending deal with Topps, was also (and we'd hope more rationally) hit by Candy Digital's announcement of an NFT partnership with MLB.
-15.16% ~ $ 11.58 | MUDS - Mudrick Capital Acquisition Corporation II (Announced)
-3.31% ~ $ 9.63 | BYTS - BYTE Acquisition Corp. (Pre-Deal)
-3.10% ~ $ 9.69 | NGC - Northern Genesis Acquisition Corp. III (Pre-Deal)
-2.77% ~ $ 12.29 | PSAC - Property Solutions Acquisition Corp (Announced)
-2.58% ~ $ 15.88 | SSPK - Silver Spike Acquisition Corp. (Announced)
-2.52% ~ $ 10.06 | RACA - Therapeutics Acquisition Corp (Announced)
-2.49% ~ $ 9.80 | FTAA - FTAC Athena Acquisition Corp. (Pre-Deal)
-2.47% ~ $ 14.59 | RSVA - Rodgers Silicon Valley Acquisition Corp (Announced)
-2.20% ~ $ 9.80 | LGV - Longview Acquisition Corp. II (Pre-Deal)
-1.72% ~ $ 9.73 | GLBL - Cartesian Growth Corporation (Pre-Deal)
-1.67% ~ $ 9.98 | OTRA - OTR Acquisition Corp (Pre-Deal)
-1.54% ~ $ 10.20 | ARYA - Arya Sciences Acquisition Corp III (Announced)
-1.52% ~ $ 9.70 | TETC - Tech and Energy Transition Corporation (Pre-Deal)
-1.52% ~ $ 11.03 | BCTG - BCTG Acquisition Corp. (Announced)
-1.47% ~ $ 10.71 | FTCV - FinTech Acquisition Corp. V (Announced)
-1.42% ~ $ 13.90 | GHVI - Gores Holdings VI Inc (Announced)
Today's Biggest SPAC Gains
12.84% ~ $ 14.50 | DFHT - Deerfield Healthcare Technology Acquisitions Corp. (Announced)
9.33% ~ $ 21.56 | CCIV - Churchill Capital Corp IV (Announced)
8.23% ~ $ 13.28 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
3.89% ~ $ 10.15 | FSRX - FinServ Acquisition Corp. II (Pre-Deal)
3.63% ~ $ 13.12 | FTIV - FinTech Acquisition Corp. IV (Announced)
3.42% ~ $ 18.77 | ACTC - ArcLight Clean Transition Corp (Announced)
3.32% ~ $ 10.90 | LCY - Landcadia Holdings III Inc (Announced)
2.86% ~ $ 10.80 | SRAC - Stable Road Acquisition Corp. (Announced)
2.68% ~ $ 10.34 | PDAC - Peridot Acquisition Corp (Announced)
1.83% ~ $ 10.59 | FWAA - Fifth Wall Acquisition Corp. I (Announced)
1.82% ~ $ 9.99 | GTPB - GORES TECHNOLOGY PARTNERS II, INC. (Pre-Deal)
1.54% ~ $ 9.91 | GOAC - GO ACQUISITION (Pre-Deal)
1.53% ~ $ 11.25 | CLII - Climate Change Crisis Real Impact I Acquisition Corp (Announced)
1.50% ~ $ 10.15 | PANA - Panacea Acquisition Corp. II (Pre-Deal)
1.45% ~ $ 9.78 | SCOB - ScION Tech Growth II (Pre-Deal)
Upcoming Merger Votes
Jun 29 | $ 11.25 | CLII - Climate Change Crisis Real Impact I Acquisition Corp --> EVgo
Jun 24 | $ 10.04 | FRX - Forest Road Acquisition Corp --> Beachbody, LLC
Jun 23 | $ 9.94 | AACQ - Artius Acquisition Inc. --> Origin Materials
Jun 22 | $ 10.22 | TBA - Thoma Bravo Advantage --> ironSource
Jun 22 | $ 13.12 | FTIV - FinTech Acquisition Corp. IV --> Perella Weinberg Partners LLC
Jun 17 | $ 9.97 | ACAC - Acies Acquisition Corp --> PlayStudios, Inc.
Jun 16 | $ 10.12 | CRSA - Crescent Acquisition Corp --> LiveVox TopCo, LLC
Jun 15 | $ 10.00 | FAII - Fortress Value Acquisition Corp. II --> ATI Physical Therapy
Jun 11 | $ 18.77 | ACTC - ArcLight Clean Transition Corp --> Proterra Inc
Jun 10 | $ 9.99 | VGAC - VG Acquisition Corp --> 23andMe, Inc.
Jun 10 | $ 10.08 | CCX - Churchill Capital Corp II --> Software Luxembourg Holding S.A
Jun 10 | $ 15.88 | SSPK - Silver Spike Acquisition Corp. --> WM Holding Company, LLC
Jun 09 | $ 10.12 | THBR - Thunder Bridge Acquisition II, Ltd --> Indie Semiconductor
Jun 09 | $ 10.15 | CAPA - HighCape Capital Acquisition Corp --> Quantum-Si
Jun 08 | $ 10.20 | ARYA - Arya Sciences Acquisition Corp III --> Nautilus Biotechnology, Inc.
Jun 07 | $ 13.27 | FSRV - FinServ Acquisition Corp --> Katapult Inc.
Jun 04 | $ 14.50 | DFHT - Deerfield Healthcare Technology Acquisitions Corp. --> CareMax Medical Group, LLC
Jun 04 | $ 10.01 | GIX - GigCapital2, Inc. --> Cloudbreak Health, LLC
Jun 03 | $ 10.72 | TSIA - TS Innovation Acquisitions Corp --> Latch, Inc.
Jun 03 | $ 13.41 | JIH - Juniper Industrial Holdings, Inc. --> Janus International Group, LLC
Jun 02 | $ 14.65 | JWS - Jaws Acquisition Corp --> Cano Health, LLC
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.
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- 15 SPAC Mergers in 30 Days
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- Will SPACs Rebound with the Market?
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- Exclusive SPAC Q&A: Better World Acquisition Corp (BWAC)
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(Disclaimers: this is not investment advice. The author may be long one or more stocks mentioned in this report.)