Grindr Gets a DA. Eve is Ready for Takeoff

by | May 9, 2022

Long awaited DA for the popular LGBTQ+ dating app. And the rest of the day’s news in SPACs.

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SPAC Deal: Tiga Acquisition Corp. / Grindr

Tiga Acquisition Corp. (TINV) has a DA with Grindr which values the mostly male LGBTQ+ dating app at an equity value of $1.6B. No PIPE. Slide deck here. According to the investor presentation, Grindr generated 2021 revenues of $147M and EBITDA of $77M. TINV warrants traded up 36% today and are trading up 142% after hours. Recall that the company cleared security checks back in September of last year.

Source: Investor presentation

Zanite Acquisition Corp. / EVEX Closed

Zanite Acquisition Corp. (ZNTE) completes merger with Eve Holding, an electric vertical take-off and landing (eVTOL) company and former business unit of Embraer S.A. (ERJ) .Shares will begin trading tomorrow as “EVEX.”

BREZ Redemption Update

Breeze Holdings Acquisition Corp. (BREZ) shareholders redeem 6.7M shares or ~58% of public float. BREZ is expected to complete its combination with space logistics and transportation services company D-Orbit S.p.A (DOBT) in the third quarter. SPAC redemptions averaged 84% for the month of April.

Source: Twitter

Three votes this week

  • Today, Artisan Acquisition Corp. (ARTA) has a vote on its merger with genomic and diagnostic test company Prenetics Group (PRE).
  • 5.10 — OTR Acquisition Corp. (OTRA) votes on its merger with protein therapeutics company Comera Life Sciences (CMRA).
  • 5.12 — Better World Acquisition Corp. (BWAC) votes on extension to August, + ~$0.10 to cash in trust depending on redemption levels

Elsewhere in SPACs

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<a href="" 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.

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Boardroom Alpha Digest: Wed, Feb 1

Fedex Corp. (FDX) announced it would be laying off ~10% of its corporate workforce and Ryan McInerney officially takes over at Visa (V).

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