There was a slowdown in SPAC flow the past few weeks giving investors an opportunity to take a breath and do their homework. There were no new SPAC IPOs priced this past week, the first such week with no new supply in quite a while.
The SPAC market may be on track to become healthier. Be careful though the field hasn't cleared yet and short sellers will make life hard for the SPACs and investors who buy into overly hyped financials and technology.
New-media company Vice Media on Wednesday was said to be in talks to merge with the San Francisco SPAC company 7GC & Co Holdings, media reports suggest.
On March 29, British online car retailer Cazoo said it would list on the New York Stock Exchange following a merger with New York-listed SPAC Ajax in a deal that values Cazoo at $7 billion.
Tim Collins shared the nine best SPAC stocks to buy from each stage of development: pre-deal, definitive agreement and post-merger.
Here is a list of some of the top SPAC stocks to watch over the next week of trading.
QuantumScape - QS
QuantumScape (QS) - Get Report has been one of the most successful de-SPAC investments to date. The stock is trading +300% if you bought shares of the predecessor SPAC, Kensington Acquisition, at the IPO price of $10. However, short-seller Scorpion Capital released a scathing short report on QuantumScape this past Wednesday that sent shares tumbling over 12% to close at $35.85.
Altimeter Growth - AGC
Brad Gerstner's Altimeter Growth is taking Grab Holdings public via a $40 billion SPAC merger. Grab Holdings is the leading app for deliveries, mobility and financial services in Southeast Asia
TWC Tech Holdings II - TWCT
The transaction with TWC Tech Holdings II values Cellebrite equity at $2.4B and is supported by a $300M PIPE. This marks the third deal for Adam Clammer's True Wind Capital SPACs.
D & Z Media Acquisition - DNZ
D & Z Media Acquisition may take online advertising company Simplifi public. DNZ, co-sponsored by ICE, raised $287.5M in its SPAC IPO back in January. CEO Betty Liu is an experienced media executive and former Vice-Chair of the NYSE.
D8 Holdings Corp - DEH
D8 Holdings Corp agreed to take surgical robotics company, Vicarious Surgical, public at a $1.1B EV valuation. The transaction includes a $115M PIPE backed by some heavy-hitters
Consonance-HFW Acquisition Corp - CHFW
Consonance-HFW Acquisition Corp today announced that it is taking Surrozen public, a biotech company that is developing drugs to modulate the Wnt signaling pathway, that values the pre-rev company at a $200 million estimated value.
All stock prices are referenced and pulled from Yahoo Finance while rankings were pulled from Barchart.com.