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Tailwind Two (TWNT) + Terran Orbital Strike $1.58B SPAC Deal, and 5 new SPAC IPOs Traded

Tailwind Two (TWNT) struck an afternoon SPAC deal with Terran Orbital, 5 SPAC IPOs priced, and TMTS/NextNav closed.

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While much of the market is still focused on a mega earnings week and Facebook changing its name to Meta (🤔) the SPAC world got treated to the always-rare after market deal announcement. 

Tailwind Two Acquisition Corp (TWNT) signed a definitive agreement to take satellite operator Terran Orbital public at a valuation of $1.58B. The deal includes a $50M PIPE from the likes of Lockheed Martin and AE Industrial Partners. 

This is the first of Casper CEO Philip Krim's 3 SPACs to strike a deal. The other two (TWND, TWNI) are priced and searching for targets.  

Elsewhere in SPACs

NextNav and Spartacus Acquisition (TMTS) announced that their business combination is closed and will start trading as NN on 10/29. The company saw 17,444,293 shares redeemed as part of the vote and NextNav agreed to waive the minimum cash to close requirement as total cash available is less than $250M. 

tmts

SPAC IPOs

Another slew of SPAC IPOs hit the market today, all with overfunded trusts, and while they traded up slightly from $10 all of this week's IPOs are trading below trust value.  

Oct 27 | $ 10.05 | ADAL - Anthemis Digital Acquisitions I Corp
Oct 27 | $ 10.07 | USCT - TKB Critical Technologies 1
Oct 27 | $ 10.07 | PCCT - Perception Capital Corp. II
Oct 27 | $ 10.05 | FIAC - Focus Impact Acquisition Corp.
Oct 27 | $ 10.01 | SCMA - Seaport Calibre Materials Acquisition Corp.
Oct 26 | $ 10.09 | PHYT - Pyrophyte Acquisition Corp.
Oct 26 | $ 10.11 | LVAC - LAVA Medtech Acquisition Corp.
Oct 26 | $ 10.05 | DMAQ - Deep Medicine Acquisition Corp.
Oct 26 | $ 9.98 | OHAA - Opy Acquisition Corp. I
Oct 26 | $ 10.08 | IOAC - Innovative International Acquisition Corp.

Today's Price Action

Biggest Gainers

DWAC clawed back another +12% after its drop on Tuesday. Reminder there, buyer beware as it's likely to stay volatile. 

12.13% ~ $ 72.76 | DWAC - Digital World Acquisition Corp. (Announced)
5.81% ~ $ 10.57 | MPAC - Model Performance Acquisition Corp (Announced)
5.43% ~ $ 14.75 | TDAC - Trident Acquisitions Corp (Announced)
3.58% ~ $ 10.98 | DCRC - Decarbonization Plus Acquisition Corporation III (Announced)
3.48% ~ $ 10.71 | GGPI - Gores Guggenheim, Inc (Announced)
2.39% ~ $ 10.70 | FTCV - FinTech Acquisition Corp. V (Announced)
2.37% ~ $ 11.25 | TPGY - TPG Pace Beneficial Finance Corp (Announced)
1.96% ~ $ 9.89 | TWNT - Tailwind Two Acquisition Corp. (Announced)
1.63% ~ $ 11.85 | XPDI - Power & Digital Infrastructure Acquisition Corp. (Announced)
1.38% ~ $ 10.32 | LEAP - Ribbit LEAP Ltd (Pre-Deal)
1.29% ~ $ 9.96 | REVE - Alpine Acquisition Corp. (Pre-Deal)
1.20% ~ $ 10.97 | BRPM - B. Riley Principal 150 Merger Corp. (Announced)
1.17% ~ $ 19.93 | PSTH - Pershing Square Tontine Holdings (Pre-Deal)
1.03% ~ $ 9.79 | CNDA - Concord Acquisition Corp II (Pre-Deal)
1.00% ~ $ 10.12 | IVAN - Ivanhoe Capital Acquisition Corp (Announced)
.88% ~ $ 10.28 | GLSPT - Global SPAC Partners Co. (Pre-Deal)
.70% ~ $ 10.01 | GMII - Gores Metropoulos II, Inc. (Announced)
.63% ~ $ 12.77 | FST - FAST ACQ CP (Announced)

Biggest Losers

-6.12% ~ $ 12.43 | AGC - Altimeter Growth Corp. (Announced)
-3.75% ~ $ 10.77 | BENE - Benessere Capital Acquisition Corp. (Pre-Deal)
-1.32% ~ $ 9.72 | ZT - Zimmer Energy Transition Acquisition Corp. (Pre-Deal)
-1.21% ~ $ 9.82 | TCVA - TCV Acquisition Corp. (Pre-Deal)
-1.00% ~ $ 9.93 | AMAO - American Acquisition Opportunity Inc (Pre-Deal)
-.92% ~ $ 9.69 | FICV - Frontier Investment Corp (Pre-Deal)
-.89% ~ $ 10.01 | KVSB - Khosla Ventures Acquisition Co. II (Announced)
-.77% ~ $ 10.37 | MCMJ - Merida Merger Corp. I (Announced)
-.73% ~ $ 24.32 | PCPC - Periphas Capital Partnering Corporation (Pre-Deal)
-.57% ~ $ 10.42 | IPOD - Social Capital Hedosophia Holdings Corp IV (Pre-Deal)
-.55% ~ $ 9.86 | ALCC - AltC Acquisition Corp. (Pre-Deal)
-.51% ~ $ 9.70 | CCAI - Cascadia Acquisition Corp. (Pre-Deal)
-.50% ~ $ 9.91 | IPVF - InterPrivate III Financial Partners Inc. (Announced)
-.50% ~ $ 9.93 | SVFB - SVF Investment Corp. 2 (Pre-Deal)
-.50% ~ $ 9.95 | HLXA - HELIX ACQUISITION CORP (Announced)
-.44% ~ $ 10.30 | ZGYH - Yunhong International (Pre-Deal)
-.41% ~ $ 9.72 | BWC - Blue Whale Acquisition Corp I (Pre-Deal)
-.41% ~ $ 9.73 | DHHC - DiamondHead Holdings Corp. (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.)