Despite an Icy SPAC Market, S-1s Keep Coming

by | May 27, 2022

Third automotive DA of the week. And the rest of the day’s news in SPACs.

————————————————-
Free Investor Resources from Boardroom Alpha
—————————————————-
** Podcast: Know Who Drives Return
** Daily SPAC Newsletter
** Full SPAC Listing

Two new SPAC S-1s filed

SPAC IPOs have slowed considerably, with only 6 IPOs this month, down from 19 a year ago. Two new S-1s filed:

  • Mars Acquisition Corp (MARXU). Filed for a $75M IPO and will target businesses in crypto-currency and block-chain, electronic vehicles, healthcare technology, financial technology, cleantech, specialty manufacturing, big data and artificial intelligence, and other related technologies. The SPAC is led by CEO, CFO, and Director Karl Brenza, former Senior Managing Director of Investment Banking for Paulson Investment Company; COO and Director Iris Zhao, the CIO of Future Fintech Group (FTFT); and Chairman Shanchun Huang, the CEO of Future Fintech Group. Zhao and Huang are spouses.
  • ESH Acquisition Corp (ESHU).Filed for a $300M IPO. ESH includes industry veterans in entertainment, sports, and hospitality. The SPAC is led by CEO and Director James Francis, founder and former CEO of Chesapeake Lodging Trust and Highland Hospitality, Chairman Allen Weiss, former consultant at Apollo Investment and President of World Wide Operations for the Walt Disney Parks and Resorts business, and Vice Chairman Magic Johnson, former NBA player and founder and CEO of investment firm Magic Johnson Enterprises. ESH intends to target the global entertainment, sports, and hospitality sectors. Areas of focus include professional sports franchises, luxury resorts, destination and regional theme parks, record labels, and music and television streaming services.
Source: Boardroom Alpha

SPAC Deal: Aesther Healthcare Acquisition + United Gear & Assembly

Aesther Healthcare Acquisition (AEHA) announces a DA with United Gear & Assembly. Limited information on this one; $107M in trust. United Gear & Assembly designs and manufactures high precision gears for electric vehicles, construction and mining and agriculture end markets. Customers include Lucid Group (LCID), Volvo, HUSCO, Dana and GM, among others.

GBTG / American Express Global Business Travel  Closes

American Express Global Business Travel  (GBTG) to begin trading on the NYSE 5/31. Still no word on redemptions.

Elsewhere in SPACs

  • SPAC liquidation: Trepont Acquisition Corp I (TACA) on 6/10. $10.10 redemption.

SPAC Calendar

Source: Boardroom Alpha

More from Boardroom Alpha

For ongoing tracking, analytics, and data on SPACs checkout Boardroom Alpha’s SPAC Data and Analytics service.

<a href="https://www.boardroomalpha.com/author/joanna/" target="_self">Joanna Makris</a>

Joanna Makris

Joanna has been analyzing and investing in emerging technologies for over two decades, having led the Technology, Media, and Telecom research at several global investment banks, including Mizuho Securities and Canaccord Genuity. Navigating stock market volatility since it all began in 2000. Banjo player, artist, and frittata-maker.

Know Who Drives Return

Objective, data-driven assessments for every public company director and officer.

SPAC Analytics & Database

Comprehensive research and analytics on every SPAC, sponsor, and deal. Real-time alerts, yields, red flags, filings, investors, and much more. API access to institutional grade SPAC database.

Monthly SPAC Review

SPAC Market Review – May 2022

Inflation, rising interest rates, and reduced corporate earnings across the board have led to persistent market gyrations which prove its too early for bottom fishing. The stampede out of deSPACs now makes it ‘deal-or-die’ time for those without targets.

SPAC Market Review – April 2022

The market is a mess right now. A hawkish Fed and even more cautious SEC are slowing deals….but may raise the bar for more quality SPACs down the line.

SPAC Market Review – March 2022

Despite increased scrutiny and apparent investor fatigue, deals are getting done and SPACs remain an attractive path to the public markets.

SPAC Research & Analysis

Alvotech Puts Iceland on the SPAC Map

Icelandic biopharma Alvotech deSPACs today. DHAC announces DA with VSee Lab. Deal termination for AKIC and visual effects company DNEG. A flurry of extension votes. And the rest of the day’s news in SPACs.

Know Who Drives Return Podcast

NYC Pension Funds Want Amazon Accountable for Human Capital

AMZN stock is performing, but are warehouse workers paying the price? We talk to Assistant NYC Comptroller Michael Garland on the NYC Pension Funds’ move to unseat two Amazon board members responsible for human capital management at the tech giant.

Boardroom Alpha Daily Read

Board blow-up at Redbox Entertainment. Mill Road Capital Pushing for a Sale of Big Lots. Happy Earth Day! A perfect time to tune into our latest ESG podcast.

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.