Daily SPAC Update – Feb 1, 2024

by | Feb 1, 2024

Daily SPAC Update for Feb 1, 2024. DMAQ becomes TRUG. KRNL extension vote. GLLI deal announced.NRAC and ONYX approve extensions.

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Daily SPAC Update

DeSPACs
DMAQ -> TRUG on Feb 01

SPAC DEALS ANNOUNCED
GLLI + Alps Global Holding

TODAY’S SPAC EXTENSION VOTES
KRNL – KERNEL GROUP HOLDINGS INC * extend 6 monthly options to Aug 5, 2024

SPAC VOTE RESULTS
NRAC – NORTHERN REVIVAL ACQUISITION CORP * Extend to Aug 04, 2024 * 184,934 redeemed
ONYX – ONYX ACQUISITION CO I * Extend to Nov 05, 2024 * 678,865 redeemed * trust $11.13

SPAC VOTES SET
FLME – FLAME ACQUISITION CORP * Deal Vote Set: Feb 12, 2024 * trust $10.41
RMGC – RMG ACQUISITION CORP III * Extension Vote Set: Feb 07, 2024 * trust $10.00

YESTERDAY’S TOP SPAC GAINERS
18.40% ~ $ 5.02 | ATAK – Aurora Technology Acquisition Corp. (Announced)
17.06% ~ $ 10.50 | LCAA – L Catterton Asia Acquisition Corp (Announced)
16.15% ~ $ 10.50 | CHEA – Chenghe Acquisition Co. (Announced)
14.00% ~ $ 9.69 | OXUS – Oxus Acquisition Corp. (Announced)
4.72% ~ $ 11.32 | FHLT – Future Health ESG Corp. (Pre-Deal)

YESTERDAY’S TOP SPAC LOSERS
-34.77% ~ $ 5.14 | NUBI – Nubia Brand International Corp. (Announced)
-8.63% ~ $ 11.75 | OTEC – OceanTech Acquisitions I Corp. (Announced)
-8.51% ~ $ 5.27 | LGST – Semper Paratus Acquisition Corp (Announced)
-6.52% ~ $ 14.05 | MCAF – Mountain Crest Acquisition Corp. IV (Announced)
-5.45% ~ $ 10.40 | APAC – StoneBridge Acquisition Corp. (Announced)

ICYMI: SPAC FINAL RULES APPROVED BY SEC

For most, the SPAC boom is long-dead and was unlikely to ever return to the levels of irrational exuberance seen during peak times. Still, the SEC has long wanted to layer on additional regulation to ensure that it doesn’t happen. On Jan 24 the SEC commission, chaired by Gary Gensler, voted 3-2 to adopt the new rules which will make SPACs feel a lot more like traditional IPOs. For more on the new rules and the market’s reaction, below are some good reads.

Recent Analysis

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Daily SPAC Update – May 17, 2024

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Daily SPAC Update – May 16, 2024

PLMI SPAC Deal Vote Set. CNDA Extension Vote Set. BFAC & GTAC Merger Agreements. ICVB Merger Agreement Amendment. BCSA, NPAB, EVGR Extensions Approved.

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