Daily SPAC Update – September 12, 2024

by | Sep 12, 2024

AVHI Deal Approved. PORT + Angel Studios Deal. NOVV + Real Messenger Deal Vote. HCVI and NVAC Set Extension Votes. NNAG to Liquidate on Sept 13.

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Daily SPAC Update

The SPAC market keeps chugging along with Achari Ventures Holdings Corp I (AVHI) securing shareholder approval for its deal, though 297,709 shares were redeemed from its trust, which stands at $11.58. Southport Acquisition Corp (PORT) announced a new deal with Angel Studios, and merger agreements were released by Evergreen Corp (EVGR), Compass Digital Acquisition Corp (CDAQ), and Southport (PORT). Upcoming extension votes are set for Hennessy Capital Investment Corp VI (HCVI) and NorthView Acquisition Corp (NVAC). Another SPAC will liquidate as 99 Acquisition Group (NNAG) calls it quits. On the opposite end, Future Vision II Acquisition Corp (FVN) has launched a $50M IPO. On the market front, Pono Capital Two (PTWO) led the gainers, while Tribe Capital Growth Corp I (IRAA) posted the largest loss. Recent IPOs continue to hover around their initial prices.

SPAC VOTE RESULTS
AVHI – ACHARI VENTURES HOLDINGS CORP I * Deal Approved * 297,709 redeemed * trust $11.58

SPAC DEALS ANNOUNCED
Sep 11 | PORT – Southport Acquisition Corp * + Angel Studios

MERGER VOTES
NOVV + REAL Messenger

OTHER SPAC NEWS
EVGR – EVERGREEN CORP * Merger Agreement
CDAQ – COMPASS DIGITAL ACQUISITION CORP * Merger Agreement
PORT – SOUTHPORT ACQUISITION CORP * Merger Agreement
PLMI – PLUM ACQUISITION CORP I * Merger Agreement Amendment

SPAC DEAL & EXTENSION VOTES SET
HCVI – Hennessy Capital Investment Corp Vi * EXTENSION VOTE SET: Sep 27, 2024 * trust $10.66
NVAC – Northview Acquisition Corp * EXTENSION VOTE SET: Sep 19, 2024 * trust $11.73

SPAC LIQUIDATIONS
99 Acquisition Group Inc. (NNAG)-> Liquidation on Sep 13
TortoiseEcofin Acquisition Corp. III (TRTLF)-> Liquidation on Sep 06

SEPARATE WARRANTS/RIGHTS
AAM on Sep 16
EURK on Sep 12

NEW SPAC IPOs
Sep 12: FVN – Future Vision Ii Acquisition Corp. $50M IPO

YESTERDAY’S TOP SPAC GAINERS
6.38% ~ $ 10.65 | PTWO – Pono Capital Two, Inc. (Announced)
5.81% ~ $ 10.94 | PLMI – Plum Acquisition Corp. I (Announced)
2.51% ~ $ 13.07 | NPAB – New Providence Acquisition Corp. II (Pre-Deal)
.89% ~ $ 10.44 | HLXB – Helix Acquisition Corp. II (Pre-Deal)
.82% ~ $ 11.08 | FTII – Future Tech II Acquisition Corp. (Pre-Deal)

YESTERDAY’S TOP SPAC LOSERS
-4.89% ~ $ 10.51 | IRAA – Tribe Capital Growth Corp I (Announced)
-3.35% ~ $ 11.68 | CLOE – Clover Leaf Capital Corp. (Announced)
-2.43% ~ $ 10.84 | PFTA – Portage Fintech Acquisition Corp. (Announced)
-2.42% ~ $ 12.11 | ADRT – Ault Disruptive Technologies Corp (Pre-Deal)
-2.35% ~ $ 11.61 | NVAC – NorthView Acquisition Corp (Announced)

LATEST SPAC IPO PERFORMANCE
Sep 06 | $ 10.00 | VCIC – Vine Hill Capital Investment Corp.
Sep 06 | $ 9.98 | POLE – Andretti Acquisition Corp. II
Aug 29 | $ 9.97 | GIG – GigCapital7 Corp.
Aug 28 | $ 9.97 | BSII – Black Spade Acquisition II Co
Aug 16 | $ 9.99 | HOND – HCM II Acquisition Corp.
Aug 16 | $ 10.01 | SBXD – SilverBox Corp IV

Recent Analysis

Daily SPAC Update – October 1, 2024

Trailblazer (TBMC) and Learn CW (LCW) Shareholders Approve Extension and Deal. NPAB and LATG Set Extension Votes. BCSA Deal Termination. DSAQ and SLAMF Amend Mergers.

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