Daily SPAC Update – Jan 23, 2024

by | Jan 23, 2024

Daily SPAC Update for Jan 23, 2024. Trump’s DWAC surges again. NCAC SPAC shenanigans. OPA to liquidate. ACAB investor deck. Plus PBAX, EMLD, CSTAF, and more.

Boardroom Alpha SPAC Resources
Full SPAC Listing
SPAC SEC Filings
Boardroom Alpha SPAC Intelligence Platform (7-Day Trial)

SPAC DEALS ANNOUNCED
CSLM + Fusemachines Inc.
Founded in 2013, Fusemachines is a global provider of enterprise AI products and solutions on a mission to democratize AI. Leveraging proprietary AI Studio and AI Engines, the company helps drive the clients’ AI Enterprise Transformation, regardless of where they are in their Digital AI journeys. Under the leadership of chief executive officer and founder, Dr. Sameer Maskey, PhD, Adjunct Associate Professor at Columbia University, Fusemachines continues to actively pursue the mission of democratizing AI for the masses by providing high quality AI education in underserved communities and helping organizations achieve their full potential with AI. Fusemachines is headquartered in New York with operations across AsiaCanadaUSA and Latin America.

OPA to LIQUIDATE
OPA – MAGNUM OPUS ACQUISITION LTD * Liquidation-> 2024-02-08 * trust $10.81

SPAC VOTES SET
PBAX – PHOENIX BIOTECH ACQUISITION CORP * Deal Vote Set: Feb 08, 2024 * trust $11.06
SZZL – SIZZLE ACQUISITION CORP * Extension Vote Set: Feb 06, 2024 * trust $11.12
CVII – CHURCHILL CAPITAL CORP VII * Extension Vote Set: Feb 08, 2024 * trust $10.54
ARRW – ARROWROOT ACQUISITION CORP * Extension Vote Set: Feb 02, 2024 * trust $10.36

NCAC SPAC SHENANIGANS
NCAC announced they hadn’t met deal closing conditions and rushed a proxy out on the same day they voted to extend. They seem to have just pulled it off and announced shareholders approved an extension to Feb 22, 2024.
NCAC – NEWCOURT ACQUISITION CORP * Extension Vote Set: Jan 24, 2024 * trust $11.51
NCAC – NEWCOURT ACQUISITION CORP * Extended to Feb 22, 2024

SPAC VOTE RESULTS
CLOE – CLOVER LEAF CAPITAL CORP * Extend to Jul 22, 2024 * 202,360 redeemed * trust $11.71
EMLD – FTAC EMERALD ACQUISITION CORP * Extend to Dec 20, 2024 * 10,872,266 redeemed * trust $10.62

OTHER SPAC NEWS
ACAB – ATLANTIC COASTAL ACQUISITION CORP IIReleased Investor Deck
CSTAF – CONSTELLATION ACQUISITION CORP IAnnounced preliminary redemption details * 3,399,900 redeemed

EXTENSION VOTES
CSTAF – CONSTELLATION ACQUISITION CORP I * 12 monthly extensions to Jan 29, 2025

YESTERDAY’S TOP SPAC GAINERS
The appearance of a landslide win for Trump in the Republican primaries has DWAC flying. It shot up 88% yesterday making it’s 5 day run a 169% moon shot. But, for those who think it will only go higher from here, remember that it hit almost $100 at its peak before settling in for a long-run in the teens. And, don’t forget Twitter, Truth Social’s main competitor, is considered a much friendlier environment to Truth Social’s target audience after Musk’s takeover than it was prior.

88.36% ~ $ 49.69 | DWAC – Digital World Acquisition Corp. (Announced)
18.40% ~ $ 5.02 | ATAK – Aurora Technology Acquisition Corp. (Announced)
13.10% ~ $ 12.86 | OTEC – OceanTech Acquisitions I Corp. (Announced)
11.50% ~ $ 8.92 | DMAQ – Deep Medicine Acquisition Corp. (Announced)
9.70% ~ $ 7.35 | NUBI – Nubia Brand International Corp. (Announced)

YESTERDAY’S TOP SPAC LOSERS
-7.96% ~ $ 18.52 | MCAF – Mountain Crest Acquisition Corp. IV (Announced)
-7.69% ~ $ 5.28 | DECA – Denali Capital Acquisition Corp. (Announced)
-2.93% ~ $ 10.92 | ASCB – A SPAC II Acquisition Corp. (Pre-Deal)
-2.27% ~ $ 10.75 | BLEU – bleuacacia ltd (Pre-Deal)
-2.26% ~ $ 10.37 | SBXC – SilverBox Corp III (Pre-Deal)

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.

Subscribe to Boardroom Alpha Newsletters

Subscribe to Boardroom Alpha's research to receive the latest on governance, SPACs, and people.

Disclaimer

The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon. 

This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.  

None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by BA that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.  

No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.