Daily SPAC Update – Feb 7, 2024

by | Feb 7, 2024

Daily SPAC Update for Feb 7, 2024. PFTA & RBio Energy Deal Announced. CBRG, PUCK, RMGC Extension Votes. ENCP Sets Deal Vote. SZZL Delays Vote.

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SPAC DEALS ANNOUNCED
PFTA + Rbio Energy

EXTENSION VOTES
CBRG – CHAIN BRIDGE I * extend to Nov 15, 2024
PUCK – GOAL ACQUISITIONS CORP * extend to Aug 8, 2024
RMGC – RMG ACQUISITION CORP III * extend from Feb 9, 2024 to Apr 9, 2024

SPAC VOTES SET
ENCP – ENERGEM CORP * Deal Vote Set: Feb 23, 2024 * trust $11.52

SPAC VOTE RESULTS
ARIZ – ARISZ ACQUISITION CORP * Extend to Nov 22, 2024 * 777,050 redeemed * trust $11.14
ARRW – ARROWROOT ACQUISITION CORP * Extend to Aug 06, 2024
KRNL – KERNEL GROUP HOLDINGS INC * Extend to Aug 05, 2024 * 5,806,608 redeemed * trust $10.80

OTHER SPAC NEWS
CHEA – CHENGHE ACQUISITION CO * Redemption Update * 8,133,060 redeemed * trust $11.08
GPAC – GLOBAL PARTNER ACQUISITION CORP II * New Investor Deck
SZZL – SIZZLE ACQUISITION CORPDeal vote delayed to Feb 15

YESTERDAY’S TOP SPAC GAINERS
18.40% ~ $ 5.02 | ATAK – Aurora Technology Acquisition Corp. (Announced)
12.13% ~ $ 11.00 | PBAX – Phoenix Biotech Acquisition Corp. (Announced)
4.49% ~ $ 11.64 | AIMA – Aimfinity Investment Corp. I (Announced)
4.48% ~ $ 5.53 | LGST – Semper Paratus Acquisition Corp (Announced)
2.13% ~ $ 11.49 | NVAC – NorthView Acquisition Corp (Announced)

YESTERDAY’S TOP SPAC LOSERS
-15.47% ~ $ 13.55 | MCAF – Mountain Crest Acquisition Corp. IV (Announced)
-13.76% ~ $ 10.40 | LCAA – L Catterton Asia Acquisition Corp (Announced)
-9.50% ~ $ 11.00 | MBTC – Nocturne Acquisition Corporation (Announced)
-9.19% ~ $ 9.00 | OXUS – Oxus Acquisition Corp. (Announced)
-8.63% ~ $ 11.75 | OTEC – OceanTech Acquisitions I 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 19, 2024

AIBAF DeSPACs to PSIG. GAMC Sets Deal Vote. NOVV and BYNO Extension Votes Set. BlueRiver Acquisition  (BLUAF) Suspends Trading. CCIV Vote Moves to August.

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.

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