Daily SPAC Update for Feb 5, 2024. ARIZ, MAQC, PTWO Extension Votes. NUBI DeSPAC.
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Daily SPAC Update
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.
- Sidley Austin: SEC Adopts Final Rules Regarding Special Purpose Acquisition Companies and De-SPAC Transactions
- Barrons: SEC Adopts SPAC Rules, Years After the Blank-Check Boom
- Vinson & Elkins: SEC Approves Final SPAC Rules
- Paul Hastings: SEC Adopts Long-Awaited SPAC Rules
- WSJ: SPAC Mania Is Dead. The SEC Wants to Keep It That Way