Signs of life in SPACland, with 4 deals and an IPO announced this week. Emerging Markets Horizon (HORI) cuts Russia ties. Ending the week with a deal cancellation. And all the day’s news in SPACs.
Signs of life in SPACland, with four deals this week:
- PCAC – Lanvin
- RNER – Hub Security
- AHPA – Ligand (LGND) OmniAb business
- THCP – Coincheck
We also saw a deSPAC — Forge Global (FRGE), which experienced a familiar squeeze owing to low float / high redemptions. In its fourth day of trading today, FRGE rocketed 50% to close at $18.70.
And an IPO this week: RF Acquisition Corp. (RFAC).
Russia Sanctions trickling over into SPACland
Emerging Markets Horizon Corp. (HORI) announces it will no longer seek a target in Russia. Bernard Abdelmalak, the CFO and a member of the board of directors of the Company, as well as an employee of VTB Bank (Russian / state-owned), resigned from his positions at the Company, effective March 23, 2022.
Deal Cancellation: Highland Transcend Partners I Corp. (HTPA) and Packable
Highland Transcend Partners I Corp. (HTPA) calls off its merger with e-commerce marketplace enablement platform Packable, ahead of its scheduled 3/29 vote.
DeSPAC Heat Map
Elsewhere in SPACs
- Still waiting on redemption figures from Tailwind Two (TWNT) which will merge with satellite provider Terran Orbital (approved Tuesday). Terran Orbital changes its ticker change on Monday to “LLAP.”
- AMAO: Still waiting. 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.
SPAC Deal Votes
- Mar 29 | HTPA –> Packable
- Mar 31 | HLXA –> MoonLake Immunotherapeutics AG
SPAC Extension Votes
- Mar 29 | THCA
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