Daily SPAC Update – Jan 31, 2024

by | Jan 31, 2024

Daily SPAC Update for Jan 31, 2024. SEPA deal approved. RMGC and IFIN set Extension Votes. MBTC delays vote. CETU and LGST votes today.

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VOTES SET & RESULTS
MBTC – NOCTURNE ACQUISITION CORP * Deal vote delayed to Feb 6
RMGC – RMG ACQUISITION CORP III * Extension Vote Set: Feb 07, 2024 * trust $10.00
IFIN – INFINT ACQUISITION CORP * Extension Vote Set: Feb 16, 2024 * trust $11.34
SEPA – SEP ACQUISITION CORP * Deal Approved * 495,067 redeemed

MERGER VOTES
LGST + Tevogen Bio

EXTENSION VOTES
CETU – CETUS CAPITAL ACQUISITION CORP * extend with 6 monthly options to Aug 3, 2024

YESTERDAY’S TOP SPAC GAINERS
28.25% ~ $ 7.90 | QFTA – Quantum FinTech Acquisition Corp (Announced)
23.50% ~ $ 11.72 | MBTC – Nocturne Acquisition Corporation (Announced)
18.40% ~ $ 5.02 | ATAK – Aurora Technology Acquisition Corp. (Announced)
6.60% ~ $ 10.66 | SEPA – SEP ACQUISITION CORP (Announced)
4.39% ~ $ 37.80 | DWAC – Digital World Acquisition Corp. (Announced)

YESTERDAY’S TOP SPAC LOSERS
-25.04% ~ $ 8.50 | OXUS – Oxus Acquisition Corp. (Announced)
-17.37% ~ $ 9.04 | CHEA – Chenghe Acquisition Co. (Announced)
-17.17% ~ $ 8.97 | LCAA – L Catterton Asia Acquisition Corp (Announced)
-16.61% ~ $ 7.88 | NUBI – Nubia Brand International Corp. (Announced)
-11.28% ~ $ 15.03 | MCAF – Mountain Crest Acquisition Corp. IV (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 – 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.

Activism Update – June 7

Wisdom Tree (WT) gets Glass Lewis, ISS, and Egon-Jones support. Medallion (MFIN) calls ZimCal self-serving. F9 Investments continues to hammer LL Flooring (LL).

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