All Eyes on Swvl, Gogoro Gets Approval.

by | Mar 31, 2022

Shared mobility player Swvl (SWVL) makes its debut. PPGH approves its merger with battery-swapping tech provider Gogoro. Deal making isn’t easy as 3 SPACs get extensions. And the day’s news in SPACs.

————————————————-
Free Investor Resources from Boardroom Alpha
—————————————————-
** Podcast: Know Who Drives Return
** Daily SPAC Newsletter
** Full SPAC Listing

All eyes on Swvl (SWVL)

Mass transit and shared mobility provider Swvl (SWVL) had its debut today after deSPAC from women-led Queen’s Gambit Growth Capital (GMBT). Swvl is the first company launched from Africa and the second Middle Eastern company to list on the NASDAQ via SPAC merger. Abu Dhabi-based music streaming platform Anghami (ANGH) was the first (last February). SWVL shares closed at $9.90.

PPGH approves merger with Gogoro

Poema Global Holdings Corp. (PPGH) approved its merger with Taiwanese battery swapping provider Gogoro. The transaction, which officially closes on April 4, 2022 , is expected to generate at least $335M in cash for the company. Gogoro will trade on the NASDAQ as “GGR” on April 5, 2022.

Elsewhere in SPACs

Extension for LNFA

L&F Acquisition Corp. (LNFA) filed for an extension from May out to August. No vote date as of yet. The SPAC has a pending deal with cybersecurity provider ZeroFox.

Extension for MPAC

Model Performance Acquisition Corp. (MPAC) will use first of 2 extension options and add $0.10 trust to extend from April to July. The SPAC has a pending deal with Hong-Kong-based animation and gaming company MultiMetaVerse.

Extension for THCA

The extension trend continues, as Tuscan Holdings Corp. II (THCA) gets an extension to June. Low float alert: only 2.7M public shares are remaining: 17.25M at IPO, 2.5M redeemed in April 2021, 2.3M in September 2021, 3.1M in December and 6.65M now. SPAC has ~$10.30 in trust. Originally a cannabis-focussed SPAC, THCA seems to have shifted its focus to real estate, although no DA has been announced. It’s also one of the rare pre-DA SPACs trading above $10 ($11 currently). Recall that the SPAC was rumored to be looking at a deal with freight startup Transfix back in late 2020.

More from Boardroom Alpha

For ongoing tracking, analytics, and data on SPACs checkout Boardroom Alpha’s SPAC Data and Analytics service.

<a href="https://www.boardroomalpha.com/author/joanna/" target="_self">Joanna Makris</a>

Joanna Makris

Joanna has been analyzing and investing in emerging technologies for over two decades, having led the Technology, Media, and Telecom research at several global investment banks, including Mizuho Securities and Canaccord Genuity. Navigating stock market volatility since it all began in 2000. Banjo player, artist, and frittata-maker.

Know Who Drives Return

Objective, data-driven assessments for every public company director and officer.

SPAC Analytics & Database

Comprehensive research and analytics on every SPAC, sponsor, and deal. Real-time alerts, yields, red flags, filings, investors, and much more. API access to institutional grade SPAC database.

Monthly SPAC Review

SPAC Market Review – January 2022

January saw the SPAC market fall quickly alongside the broader market as a revolt against “spec tech” and overall sentiment drove it lower.

SPAC Market Review – December 2021

2021 is drawing to a close and what a year it was for SPACs. In our December market update we take a look at the last month of the year and give our latest thoughts on the market, including: record IPO issuance and SPAC supply; aging SPACs and outlook for terminations; and the merger market including its financing evolution

SPAC Research & Analysis

SPAC Daily: Tuesday 9/14

Maxpro Acquisition (JMAC) penned the lone SPAC DA of the day, plus the rest of today’s news in the market.

SPAC Daily: A Merger Monday

4 new SPAC deals to get the week started, a new SPAC for dMY plus of the rest of the day’s SPAC market news.

Know Who Drives Return Podcast

Boardroom Alpha Daily Read

We take a look at the day’s news, ESG trends and special situations. Management shakeup at Faraday Future (FIFE) is an all-too familiar story in the world of EV SPACs. Blackrock to be 75% net-zero aligned by 2030, and Jana closing in (again) at Treehouse Foods (THS).

FOXO Technologies CEO Jon Sabes Is About to Disrupt the Insurance Industry

Boardroom Alpha talks to Jon Sabes, CEO of FOXO Technologies, which announced a SPAC merger with sponsor Delwinds Insurance Acquisition Corp. (DWIN). Sabes explains how epigenetic biomarkers can change the game for life insurance companies and tell us more about health and wellness than ever before.

Disclaimer

The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon. 

This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.  

None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by BA that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.  

No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.