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Slow day on the SPAC front, which feels like a redundant theme all week, however, there was a surprise deal announcement post market open this morning (see below). And, aside from Chamath's splashy 4 new biotech S-1s, essentially very little activity on the new issue pipeline - no new IPOs have priced thus far this week. 

Alkuri Global taking Babylon Health Public

Alkuri Global (KURI), a $345M SPAC led by former Groupon CEO Rich Williams and Sultan Almaadeed, struck a deal with digital healthcare company Babylon Health. KURI closed up modestly +0.6% on the day, but is still trading relatively discounted to NAV at $9.86.

The deal values the company at $3.6B EV, and is supported by a $230M PIPE. The PIPE includes existing Babylon investors Kinnevik and VNV, with new investors AMF Pensionsförsäkring, Sectoral Asset Management, Swedbank Robur and strategic investor Palantir.

Babylon expected to be Adj. EBITDA profitable by 2023

Babylon expected to be Adj. EBITDA profitable by 2023

Fun fact: Alkuri actually initially priced its SPAC IPO as "Ark Global Acquisition" but subsequently changed its name to Alkuri shortly thereafter... confusion with Cathie Wood's ARK perhaps? The two are not affiliated... 

Merger Vote Frenzy

TSIA shareholders approved its merger with Latch Inc. Shares closed down 2.3% to $10.84, and are set to trade as LTCH on June-7.

JIH shareholders approved its merger with Janus International. Shares closed down 0.3% to $13.39.

Tomorrow we get votes from GigCapital2 (GIX) & Cloudbreak. GIX fell 5.5% today to $9.40, and Deerfield Healthcare (DFHT) & CareMax. DFHT rose 1.8% to $15.12. Lastly, recently de-spac'ed CANO (f/k/a Jaws Acquisition) begins trading under its new ticker tomorrow. 

June's Merger Votes

-5.24% ~ $ 9.40 | GIX - GigCapital2, Inc. (Announced)
-4.65% ~ $ 13.94 | GHVI - Gores Holdings VI Inc (Announced)
-3.76% ~ $ 11.02 | THCB - Tuscan Holdings Corp. (Announced)
-3.30% ~ $ 9.67 | FRWA - PWP Forward Acquisition Corp. I (Pre-Deal)
-2.95% ~ $ 11.84 | MUDS - Mudrick Capital Acquisition Corporation II (Announced)
-2.81% ~ $ 9.67 | AGGR - Agile Growth Corp. (Pre-Deal)
-2.81% ~ $ 11.40 | AGC - ALTIMETER GROWTH CORP (Announced)
-2.60% ~ $ 14.63 | RSVA - Rodgers Silicon Valley Acquisition Corp (Announced)
-2.55% ~ $ 22.96 | CCIV - Churchill Capital Corp IV (Announced)
-2.42% ~ $ 11.71 | CMLF - CM Life Sciences Inc (Announced)
-2.41% ~ $ 9.71 | PLMI - Plum Acquisition Corp. I (Pre-Deal)
-2.34% ~ $ 10.84 | TSIA - TS Innovation Acquisitions Corp (Announced)
-2.04% ~ $ 10.06 | ARYA - Arya Sciences Acquisition Corp III (Announced)
-1.99% ~ $ 10.82 | APXT - Apex Technology Acquisition Corporation (Announced)
-1.90% ~ $ 9.80 | GTPB - GORES TECHNOLOGY PARTNERS II, INC. (Pre-Deal)
-1.81% ~ $ 9.77 | LCAAU - L Catterton Asia Acquisition Corp (Pre-Deal)
-1.81% ~ $ 9.77 | LEGA - Lead Edge Growth Opportunities, Ltd (Pre-Deal)
-1.72% ~ $ 9.73 | VPCC - VPC Impact Acquisition Holdings III, Inc. (Pre-Deal)
-1.59% ~ $ 18.55 | ACTC - ArcLight Clean Transition Corp (Announced)
-1.35% ~ $ 9.84 | GIIX - GORES HOLDINGS VIII, INC. (Pre-Deal)

Today's Biggest Gainers

7.15% ~ $ 12.88 | CLII - Climate Change Crisis Real Impact I Acquisition Corp (Announced)
6.56% ~ $ 14.29 | LACQ - Leisure Acquisition Corp. (Announced)
4.92% ~ $ 11.72 | SRAC - Stable Road Acquisition Corp. (Announced)
4.09% ~ $ 13.22 | PSAC - Property Solutions Acquisition Corp (Announced)
3.87% ~ $ 16.11 | RICE - Rice Acquisition Corp. (Announced)
2.19% ~ $ 10.26 | FTOC - FTAC Olympus Acquisition Corp (Announced)
1.88% ~ $ 16.30 | SSPK - Silver Spike Acquisition Corp. (Announced)
1.82% ~ $ 15.12 | DFHT - Deerfield Healthcare Technology Acquisitions Corp. (Announced)
1.78% ~ $ 10.28 | DCRB - Decarbonization Plus Acquisition Corp (Announced)
1.78% ~ $ 10.31 | BTWN - Bridgetown Holdings Ltd (Pre-Deal)
1.44% ~ $ 9.86 | SPKB - Silver Spike Acquisition Corp II (Pre-Deal)
1.43% ~ $ 9.92 | BOAC - Bluescape Opportunities Acquisition Corp (Pre-Deal)
1.26% ~ $ 11.25 | ALAC - Alberton Acquisition Corporation (Announced)
1.21% ~ $ 10.02 | CFFE - CF Acquisition Corp. VIII (Pre-Deal)
1.19% ~ $ 9.81 | NGC - Northern Genesis Acquisition Corp. III (Pre-Deal)
1.15% ~ $ 9.73 | VELO - Velocity Acquisition Corp (Pre-Deal)
1.06% ~ $ 10.46 | PDAC - Peridot Acquisition Corp (Announced)
.93% ~ $ 9.75 | HYAC - Haymaker Acquisition Corp. III (Pre-Deal)

Today's Biggest Losers

-5.24% ~ $ 9.40 | GIX - GigCapital2, Inc. (Announced)
-4.65% ~ $ 13.94 | GHVI - Gores Holdings VI Inc (Announced)
-3.76% ~ $ 11.02 | THCB - Tuscan Holdings Corp. (Announced)
-3.30% ~ $ 9.67 | FRWA - PWP Forward Acquisition Corp. I (Pre-Deal)
-2.95% ~ $ 11.84 | MUDS - Mudrick Capital Acquisition Corporation II (Announced)
-2.81% ~ $ 9.67 | AGGR - Agile Growth Corp. (Pre-Deal)
-2.81% ~ $ 11.40 | AGC - ALTIMETER GROWTH CORP (Announced)
-2.60% ~ $ 14.63 | RSVA - Rodgers Silicon Valley Acquisition Corp (Announced)
-2.55% ~ $ 22.96 | CCIV - Churchill Capital Corp IV (Announced)
-2.42% ~ $ 11.71 | CMLF - CM Life Sciences Inc (Announced)
-2.41% ~ $ 9.71 | PLMI - Plum Acquisition Corp. I (Pre-Deal)
-2.34% ~ $ 10.84 | TSIA - TS Innovation Acquisitions Corp (Announced)
-2.04% ~ $ 10.06 | ARYA - Arya Sciences Acquisition Corp III (Announced)
-1.99% ~ $ 10.82 | APXT - Apex Technology Acquisition Corporation (Announced)
-1.90% ~ $ 9.80 | GTPB - GORES TECHNOLOGY PARTNERS II, INC. (Pre-Deal)
-1.81% ~ $ 9.77 | LCAAU - L Catterton Asia Acquisition Corp (Pre-Deal)
-1.81% ~ $ 9.77 | LEGA - Lead Edge Growth Opportunities, Ltd (Pre-Deal)
-1.72% ~ $ 9.73 | VPCC - VPC Impact Acquisition Holdings III, Inc. (Pre-Deal)
-1.59% ~ $ 18.55 | ACTC - ArcLight Clean Transition Corp (Announced)
-1.35% ~ $ 9.84 | GIIX - GORES HOLDINGS VIII, INC. (Pre-Deal)

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