Signs of Spring? SPAC Deal Activity Picked up this Week.

by | Mar 25, 2022

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.

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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

Source: Boardroom Alpha

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 Calendar

SPAC Deal Votes

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

SPAC Extension Votes

  • Mar 29 | THCA

More from Boardroom Alpha

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