Daily SPAC Update – Feb 5, 2024

by | Feb 5, 2024

Daily SPAC Update for Feb 5, 2024. ARIZ, MAQC, PTWO Extension Votes. NUBI DeSPAC.

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DeSPACs
NUBI -> STI on Feb 05

EXTENSION VOTES
ARIZ – ARISZ ACQUISITION CORP * extend from Feb 22, 2024 to Nov 22, 2024
MAQC – MAQUIA CAPITAL ACQUISITION CORP * extend to Aug 7, 2024
PTWO – PONO CAPITAL TWO INC * extend from Feb 9, 2024 to Nov 9, 2024

SPAC VOTE RESULTS
APTM – ALPHA PARTNERS TECHNOLOGY MERGER CORP * Extend to Jan 30, 2025
CSTAF – CONSTELLATION ACQUISITION CORP I * Extend to Jan 29, 2025 * 2,126,159 redeemed * trust $11.13
CHEA – CHENGHE ACQUISITION CO * Deal Approved
LCAA – L CATTERTON ASIA ACQUISITION CORP * Deal Approved * 20,818,519 redeemed
OXUS – OXUS ACQUISITION CORP * Deal Approved * 1,886,751 redeemed * trust $11.32

SPAC VOTES SET
LBBB – LAKESHORE ACQUISITION II CORP * Deal Vote Set: Feb 15, 2024 * trust $11.15
IRRX – INTEGRATED RAIL & RESOURCES ACQUISITION CORP * Extension Vote Set: Feb 12, 2024 * trust $11.18
CPTK – CROWN PROPTECH ACQUISITIONS * Extension Vote Set: Feb 08, 2024 * trust $10.74
FTII – FUTURETECH II ACQUISITION CORP * Extension Vote Set: Feb 14, 2024 * trust $11.13
SZZL – SIZZLE ACQUISITION CORP * Merger vote_delayed to Feb 9

YESTERDAY’S TOP SPAC GAINERS
54.11% ~ $ 18.00 | MCAF – Mountain Crest Acquisition Corp. IV (Announced)
18.40% ~ $ 5.02 | ATAK – Aurora Technology Acquisition Corp. (Announced)
4.55% ~ $ 11.49 | LCAA – L Catterton Asia Acquisition Corp (Announced)
2.69% ~ $ 8.79 | QFTA – Quantum FinTech Acquisition Corp (Announced)
2.31% ~ $ 9.75 | SEPA – SEP ACQUISITION CORP (Announced)

YESTERDAY’S TOP SPAC LOSERS
-49.24% ~ $ 5.33 | CHEA – Chenghe Acquisition Co. (Announced)
-12.68% ~ $ 4.20 | LGST – Semper Paratus Acquisition Corp (Announced)
-8.63% ~ $ 11.75 | OTEC – OceanTech Acquisitions I Corp. (Announced)
-5.70% ~ $ 9.43 | OXUS – Oxus Acquisition Corp. (Announced)
-4.66% ~ $ 10.63 | ALCC – AltC 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

Daily SPAC Update – July 17, 2024

ZLS – Zalatoris II Updates Trust Ahead of Vote. AFAR Extension Approved w/ 2.7M Redemptions. AVHI – Achari Ventures Extends. MACI Separate Trading Today. Ocean Capital Withdraws Registration.

Daily SPAC Update – July 12, 2024

LPAA Launch One Acquisition $200M IPO. ALSA Extension Vote. VCXB Liquidation. QETA LOI Triggers Auto-Extension. MCAC Deal Approved w/ 3.7M Redemptions.

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