Daily SPAC Update – Feb 2, 2024

by | Feb 2, 2024

Daily SPAC Update for Feb 2, 2024. Deal votes for OXUS, CHEA, and LCAA. ARRW, BLUA, JWSM, and NFYS extension votes. HUDA sponsor misses extension payment.

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Daily SPAC Update

MERGER VOTES
OXUS + Borealis Foods Inc.
CHEA + Taiwan Color Optics
LCAA + Lotus Technology Inc.

EXTENSION VOTES
ARRW – ARROWROOT ACQUISITION CORP * extend to Aug 7, 2024
BLUA – BLUERIVER ACQUISITION CORP * extend to 3 monthly options to May 2, 2024
JWSM – JAWS MUSTANG ACQUISITION CORP * extend to Feb 4, 2025
NFYS – ENPHYS ACQUISITION CORP * extend to June 8, 2024

VOTE RESULTS
CSTAF – CONSTELLATION ACQUISITION CORP I * Extend to Jan 29, 2025 * 2,126,159 redeemed * trust $11.13
MARX – MARS ACQUISITION CORP * Extend to Nov 16, 2024 * 4,818,568 redeemed * trust $10.68

VOTE SET
LIBY – LIBERTY RESOURCES ACQUISITION CORP * Extension Vote Set: Feb 12, 2024 * trust $11.15

OTHER SPAC NEWS
HUDA – Hudson Bay’s sponsor fails to make extension payment but confirms it intends to

YESTERDAY’S TOP SPAC GAINERS
18.40% ~ $ 5.02 | ATAK – Aurora Technology Acquisition Corp. (Announced)
12.06% ~ $ 5.76 | NUBI – Nubia Brand International Corp. (Announced)
7.08% ~ $ 11.80 | AVHI – Achari Ventures Holdings Corp. I (Announced)
5.98% ~ $ 40.22 | DWAC – Digital World Acquisition Corp. (Announced)
5.68% ~ $ 8.56 | QFTA – Quantum FinTech Acquisition Corp (Announced)

YESTERDAY’S TOP SPAC LOSERS
-16.87% ~ $ 11.68 | MCAF – Mountain Crest Acquisition Corp. IV (Announced)
-8.73% ~ $ 4.81 | LGST – Semper Paratus Acquisition Corp (Announced)
-8.63% ~ $ 11.75 | OTEC – OceanTech Acquisitions I Corp. (Announced)
-7.57% ~ $ 9.53 | SEPA – SEP ACQUISITION CORP (Announced)
-6.54% ~ $ 11.00 | MBTC – Nocturne Acquisition Corporation (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

Daily SPAC Update – June 14, 2024

PLMI Extension Vote. TETE Extends. COOL Sets Extension Vote. GPAC Investor Deck. BAYA, RCFA, GAMC Merger Agreements. COOL, RWOD, FLFV Update Trust Values.

Daily SPAC Update – June 13, 2024

Catcha Investment (CHAA) + Crown LNG Approved. DHAC + VSee Labs Deal Approved. SEDA Investor Deck. Feutune Light (FLFV) Updates Trust & Redemptions.

Daily SPAC Update – June 10, 2024

Bayview Acquisition Corp + Oabay Inc. SPAC deal announced. EVE extension vote today. BUJA sets extension vote. PWUP amends merger agreement. COOL postpones to June 26.

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