Nuclear Power is Back as NuScale Debuts in the Green

by | May 3, 2022

Soundhound gets squeezed. And the rest of the day’s news in SPACs.

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SOUN gets squeezed

Soundhound (SOUN) shareholders redeemed 12.8M shares. Shares experienced a low-float squeeze today, trading up 15% to close at $12.62.

NuScale trades today

Uranium bulls celebrated the debut of NuScale Power Corp. (SMR), which makes Advanced Small Modular Reactors or SMRs. Shares closed up 5% to $10.55.

DUNE board recommends voting against Tradezero merger

Dune Acquisition Corporation (DUNE) issued a press release today recommending shareholders vote against its merger with Tradezero. The SPAC plans to call a special meeting to vote on the merger “as promptly as practicable.”  

SPAC IPO: A SPAC II Acquisition Corp. (ASCBU)New Economy focus

A SPAC II Acquisition Corp. (ASCBU) priced a $185M offering. Cash in trust $10.175. The SPAC will target the fintech/ proptech sectors with an ESG focus.  A SPAC II is led by Independent Chairman Malcolm F. MacLean IV, and CEO and CFO Claudius Tsang.

Deal Cancellation: GBRG / AgiiPlus

Goldenbridge Acquisition Limited (GBRG) calls off deal with AgiiPlus. The SPAC will look for a new target.

Elsewhere in SPACs

  • Lionheart Acquisition Corporation II (LCAP) sets 5/18 vote date for merger with MSP Recovery, a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery player.
  • AGBA Acquisition Ltd. (AGBA) approves extension for up to November. No word on redemptions. SPAC adds 15c / share to trust.
  • ACE Convergence Acquisition Corp. (ACEV) extends timeline for combination with Tempo Automation . No new date. Working on financing.
  • Boardroom Alpha April SPAC market review. Check out our SPAC market review for April. Quick take: a hawkish Fed and even more cautious SEC are slowing, downsizing, and cancelling deals.

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BA Podcast: Innoviz (INVZ) CEO Omer Keilaf on LiDAR, Trust, and Commercial Production

Yesterday, deSPAC LiDAR maker Innoviz (INVZ) announced a six-figure contract win with an undisclosed vehicle manufacture across its multiple brands. Good news for the EV and related technology ecosystem has been harder to find, with even bellwether Tesla (TSLA) stock down 24% YTD. We hope to hear more about this relationship during Innoviz’s upcoming earnings call on May 11. Until then, listen to our recent conversation with INVZ CEO Omer Keilaf. And check out our detailed overview of the Innoviz story here.

More from Boardroom Alpha

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<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.

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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.

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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

Starting the Week with 2 DAs

Starting the week off with 2 DAs– oil & gas and battery tech. And the rest of the day’s news in SPACs.

Comera Gets Approval, with Over 98% Redemptions

Squeeze alert: OTRA approves its merger with Comera Life Sciences, albeit with some of highest redemptions we’ve seen in a while (98.4%). 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.

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