Say Hello to the Latest SPAC IPO. Meanwhile, deSPACs are Still Getting Squeezed.

by | Mar 24, 2022

RF Acquisition prices $100M IPO, Asia ex-China focus. FRGE and DRTS get juiced. And all the day’s news in SPACs.

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

SPAC IPO: RF Acquisition Corp. (RFAC)

First SPAC IPO we’ve seen in a while: RF Acquisition Corp. (RFAC) priced a $100M offering. 1 W, 1 R 1/10 share, $10.10 in trust. The SPAC is led by CEO Tse Meng Ng, CEO and co-founder of Singapore-based Ruifeng Wealth Management. RFAC intends to target companies within the Southeast Asian new economy sector or elsewhere. Given heightened investor concerns around China-related stocks, the SPAC makes its ex-China focus very clear: “We shall not undertake our initial business combination with any entity with its principal business operations in China (including Hong Kong and Macau)” EarlyBirdCapital is sole bookrunning manager of the offering.

There have been 8 SPAC IPOs so far this month, down from 109 a year-ago.

Elsewhere in SPACs

  • deSPAC squeeze action. Since its deSPAC on Tuesday and initial short squeeze, shares of Forge Global (FRGE) declined 12% today, closing at $12.48. See our detailed analysis here.  Alpha Tau Medical Ltd (DRTS) is next in the squeeze queue. Shares shot up 27% today to close at $14.90.
  • Lookout: Though redemption figures have yet to be released Tailwind Two (TWNT) and Orbital look to be set for a closing date tomorrow and ticker change on Monday. DeSPACs have been a wild ride, particularly with high redemptions.
  • Where are you? American Acquisition Opportunity Inc. (AMAO) had a liquidation date and extension vote on 3/22 of this week and have yet to report the results from the meeting.
  • Do you dream of an autonomous driving future? Check out our latest Boardroom Alpha podcast with Omer Keilaf, CEO of LiDAR deSPAC Innoviz (INVZ), here.

SPAC Calendar

SPAC Deal Votes

  • Mar 29 | HTPA –> Packable
  • Mar 31 | HLXA –> MoonLake Immunotherapeutics AG

SPAC Extension Votes

  • Mar 29 | THCA

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 – December 2022

December’s SPAC market review takes a look by the numbers of the month’s SPAC activity and how the market currently stands going into 2023.

SPAC Market Review – November 2022

November’s SPAC market review paints a picture of a SPAC market rushing towards the exit with high, and accelerating liquidations, more deal terminations, and almost no new SPAC IPOs.

SPAC Research & Analysis

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).

Know Who Drives Return 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.