Daily SPAC Update – Jan 30, 2024

by | Jan 30, 2024

Daily SPAC Update for Jan 30, 2024. MARX and NRAC extensions. MBTC + Cognos Deal Vote. PGSS revises deal valuation. NVAC deal deck.

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Daily SPAC Update

EXTENSION VOTES
MARX – MARS ACQUISITION CORP * extend to Nov 16, 2024
NRAC – NORTHERN REVIVAL ACQUISITION CORP * extend to Aug 4, 2024

MERGER VOTES
MBTC + Cognos Therapeutics Inc

SPAC VOTES SET
WNNR – ANDRETTI ACQUISITION CORP * Deal Vote Set w/ Zapata AI: Feb 13, 2024 * trust $10.93
SLAC – SOCIAL LEVERAGE ACQUISITION CORP I * Extension Vote Set: Feb 13, 2024 * trust $10.52
QFTA – QUANTUM FINTECH ACQUISITION CORP * Extension Vote Set: Feb 08, 2024 * trust $10.88
IFIN – INFINT ACQUISITION CORP * Extension Vote Set: Feb 16, 2024 * trust $11.34

OTHER SPAC NEWS
NVAC – NORTHVIEW ACQUISITION CORP * Released updated investor deck
PGSS – Deal valuation revised down from $640 to $504M

YESTERDAY’S TOP SPAC GAINERS
18.40% ~ $ 5.02 | ATAK – Aurora Technology Acquisition Corp. (Announced)
16.11% ~ $ 11.03 | SZZL – Sizzle Acquisition Corp. (Announced)
14.68% ~ $ 9.45 | NUBI – Nubia Brand International Corp. (Announced)
10.50% ~ $ 10.00 | SEPA – SEP ACQUISITION CORP (Announced)
6.81% ~ $ 11.29 | TWLV – Twelve Seas Investment Company II (Pre-Deal)

YESTERDAY’S TOP SPAC LOSERS
-26.78% ~ $ 5.55 | LGST – Semper Paratus Acquisition Corp (Announced)
-9.03% ~ $ 10.49 | CETU – Cetus Capital Acquisition Corp. (Announced)
-8.68% ~ $ 4.84 | DECA – Denali Capital Acquisition Corp. (Announced)
-8.63% ~ $ 11.75 | OTEC – OceanTech Acquisitions I Corp. (Announced)
-5.99% ~ $ 16.94 | MCAF – Mountain Crest Acquisition Corp. IV (Announced)

 

ICYMI: SEC APPROVES SPAC FINAL RULES

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 23, 2024

Chainbridge + Phytanix Bio $58M Deal Announced. PWUP + Visiox Pharmaceuticals Deal Terminated. ASCB Extension Approved. OCAX Delisted. ZLS Owes $81K to Stay Listed. 

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.

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