SPAC Update (1/25): Manic Merger Monday (TSIA, SPRQ, IACA, WPF, LCY)
January 25, 2021

SPACS just won’t slow down; 5 deals were announced before the market opened today.

Landcadia Holdings III announced it will merge with The Hillman Group, a hardware and home improvement company. The deal values Hillman at $2.64b (EV), and includes $375mm PIPE.

Landcadia closed slightly down (0.4%)

Landcadia management

Foley Trasimene Acquisition Corp. announced it will merge with Alight Solutions, a cloud-based human capital and business services provider. The deal values Alight at $7.3b (EV). and includes $1.55b PIPE.

Foley closed up 0.7%.

Foley management

ION Acquisition Corp. 1 announced it will merge with Taboola, a digital advertising firm. The deal values Taboola at $2.6b (EV), and includes $285m PIPE.

Since the announcement, ION closed up 14.5%.

ION management

Spartan Acquisition Corp. II announced it will merge with Sunlight Financial, a residential solar energy company. The deal values Sunlight at $1.3b (EV), and includes, $250mm PIPE.

Since the announcement, Spartan closed up 21%.

Spartan management

TS Innovation Acquisitions Corp. announced it will merge with Latch, which offers building-management software. The deal values Latch at $1.1b (EV), and includes $190mm PIPE.

In the big winner of the day, TS closed up 45%.

TS management

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