Amidst SPAC Carnage, Michael Dell’s MSDA Makes High Profile Add

by | Mar 15, 2022

MSDA makes a high-profile Board addition. CCIF and Denham pull their IPOs. And all the day’s news in SPACs.

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MSDA adds former Slack CFO Allen Shim to board 

MSD Acquisition Corp. (MSDA), the SPAC sponsored by Michael Dell’s family office, adds former Slack CFO Allen Shim to the Board. Shim led the company’s direct listing offering in June 2019 and oversaw its acquisition by Salesforce (CRM) which closed in July 2021. The news follows Barry McCarthy’s resignation from the Board to take over as Peloton (PTON) CEO. MSDA hasn’t yet announced a target. The SPAC “will seek to acquire a scaled, multibillion-dollar business with a leading market position in its industry. The SPAC intends to prioritize companies that operate in “winner takes all” or “winner takes most” industries.” 

CCIF, Denham pull offerings

The latest SPACs to pull the plug. CCIF Acquisition Corp. (CCIF) pulls its planned $150M IPO.  Denham Sustainable Performance Management Acquisition Corp. also pulled plans for its $200M offering. The SPAC IPO market is ice cold, with just 6 companies making it out of the gate this month, down from 109 last year.

Elsewhere in SPACs:  

  • Queen’s Gambit Growth Capital (GMBT) / Swvl deal vote set for March 30
  • Spartan Acquisition Corp. III (SPAQ) closes its merger with EV charging infrastructure network Allego tomorrow, trades as ALLG on Thursday
  • Breeze Acquisition Holdings (BREZ) filed a proxy indicating that its setup for an extension vote out till September, a meeting date has not been set. BREZ extended via sponsor option last time, adding to the trust.
  • Shareholders approved the merger between Bridgetown 2 Holdings (BTNB)–backed by  backed by Richard Li and Peter Thiel–and Singapore’s Property Guru.

Today’s Price Action

Biggest Gainers

6.95% ~ $ 66.30 | DWAC – Digital World Acquisition Corp. (Announced)
1.32% ~ $ 9.96 | SRSA – Sarissa Capital Acquisition Corp (Pre-Deal)
1.04% ~ $ 10.69 | GGPI – Gores Guggenheim, Inc (Announced)
1.03% ~ $ 9.83 | TCOA – Trajectory Alpha Acquisition Corp. (Pre-Deal)
.81% ~ $ 9.93 | LAAA – Lakeshore Acquisition I Corp. (Pre-Deal)
.62% ~ $ 9.70 | CNDA – Concord Acquisition Corp II (Pre-Deal)
.62% ~ $ 9.79 | CCAI – Cascadia Acquisition Corp. (Pre-Deal)
.61% ~ $ 9.92 | HTPA – Highland Transcend Partners I Corp (Announced)
.61% ~ $ 9.93 | CRHC – Cohn Robbins Holdings Corp. (Announced)
.52% ~ $ 9.71 | ACRO – Acropolis Infrastructure Acquisition Corp. (Pre-Deal)
.52% ~ $ 9.75 | HCNE – Jaws Hurricane Acquisition Corporation (Pre-Deal)
.51% ~ $ 9.95 | SVNA – 7 Acquisition Corp (Pre-Deal)
.41% ~ $ 9.79 | ASAX – Astrea Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.79 | MBAC – M3-Brigade Acquisition II Corp (Pre-Deal)
.41% ~ $ 9.86 | VYGG – Vy Global Growth (Pre-Deal)
.41% ~ $ 9.90 | TCAC – Tuatara Capital Acquisition Corporation (Announced)
.41% ~ $ 9.91 | ACTD – ArcLight Clean Transition Corp. II (Announced)
.40% ~ $ 9.92 | SVFC – SVF Investment Corp. 3 (Announced)
.40% ~ $ 9.96 | MBSC – M3-Brigade Acquisition III Corp. (Pre-Deal)
.40% ~ $ 9.96 | WNNR – Andretti Acquisition Corp. (Pre-Deal)

Biggest Losers

-6.85% ~ $ 6.12 | SPAQ – Spartan Acquisition Corp. III (Announced)
-6.35% ~ $ 8.85 | FMAC – FirstMark Horizon Acquisition Corp (Announced)
-5.71% ~ $ 9.66 | GAQ – Generation Asia I Acquisition Ltd (Pre-Deal)
-1.82% ~ $ 8.11 | BTNB – Bridgetown 2 Holdings Limited (Announced)
-.91% ~ $ 9.75 | RCAC – Revelstone Capital Acquisition Corp. (Pre-Deal)
-.70% ~ $ 11.35 | CFVI – CF Acquisition Corp. VI (Announced)
-.51% ~ $ 9.80 | ADER – 26 Capital Acquisition Corp (Announced)
-.51% ~ $ 9.83 | BNNR – Banner Acquisition Corp. (Pre-Deal)
-.50% ~ $ 9.91 | VCXB – 10X Capital Venture Acquisition Corp. III (Pre-Deal)
-.45% ~ $ 9.86 | SCUA – Sculptor Acquisition Corp I (Pre-Deal)
-.41% ~ $ 9.73 | SPKB – Silver Spike Acquisition Corp II (Announced)
-.41% ~ $ 9.82 | FHLT – Future Health ESG Corp. (Pre-Deal)
-.40% ~ $ 9.84 | LCW – Learn CW Investment Corp (Pre-Deal)
-.40% ~ $ 9.87 | JUN – Juniper II Corp. (Pre-Deal)
-.40% ~ $ 9.98 | HUGS – USHG Acquisition Corp. (Announced)
-.40% ~ $ 9.79 | BIOT – Biotech Acquisition Company (Announced)
-.36% ~ $ 9.70 | VLAT – Valor Latitude Acquisition Corp. (Pre-Deal)
-.31% ~ $ 9.73 | MACC – Mission Advancement Corp. (Pre-Deal)
-.31% ~ $ 9.74 | AMCI – AMCI Acquisition Corp. II (Announced)
-.31% ~ $ 9.76 | XPDB – Power Digital Infrastructure Acquisition II Corp. (Pre-Deal)

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<a href="" 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.

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