SPAC Daily: 2 DAs to Kick off Tuesday

by | Nov 1, 2022

A hot* Tuesday morning in SPAC land as two companies hit the tape with new DAs.

  • Breeze Holdings Acquisition Corp. (BREZ) is taking its second stab at a SPAC target in announcing a $1.2B EV deal for ammunition manufacturing company TV Ammo. The combined company will be renamed True Velocity upon completion
  • Welsbach Technology Metals Acquisition Corp. (WTMA) is taking WaveTech Group Inc. public at a $228M valuation.

Announced deal M&A has actually been quite elevated relative to the last 6-8 months with nearly 30 deals announced in October. Quality assessments aside, certain sponsors are still going to gun for SPAC targets rather than throwing in the towel.

Source: Boardroom Alpha

Keep an eye out for our October SPAC review! Name of the game? 30 SPACs are tapping out early and gunning to get their end dates into 2022, and avoid some tax.

SPAC Calendar

After a wave of DeSPAC trades brought back the low-float mania last week, there aren’t as many merger votes on the immediate horizon. Yet there are a handful mixed in against the multitude of extension votes.

Yesterday’s Movers

Biggest Gainers

14.46% ~ $ 11.40 | IGNY – Ignyte Acquisition Corp. (Announced)
13.08% ~ $ 10.29 | VENA – Venus Acquisition Corporation (Announced)
2.12% ~ $ 6.75 | AHPA – Avista Public Acquisition Corp. II (Announced)
1.71% ~ $ 10.12 | LGTO – LEGATO MERGER CORP. II (Announced)
.84% ~ $ 10.21 | KNSW – KnightSwan Acquisiton Corp (Pre-Deal)
.81% ~ $ 10.00 | DNZ – D and Z Media Acquisition Corp. (Pre-Deal)
.81% ~ $ 10.00 | SSAA – Science Strategic Acquisition Corp. Alpha (Pre-Deal)
.81% ~ $ 10.00 | OEPW – One Equity Partners Open Water I Corp. (Pre-Deal)
.74% ~ $ 10.23 | IMAQ – International Media Acquisition Corp. (Announced)
.71% ~ $ 9.99 | VBOC – Viscogliosi Brothers Acquisition Corp (Pre-Deal)
.70% ~ $ 10.00 | CLRM – Clarim Acquisition Corp. (Pre-Deal)
.70% ~ $ 10.11 | SHAP – Spree Acquisition Corp. 1 Ltd (Announced)
.66% ~ $ 10.67 | GRCY – Greencity Acquisition Corp (Pre-Deal)
.61% ~ $ 9.88 | IPVF – InterPrivate III Financial Partners Inc. (Announced)
.60% ~ $ 10.00 | VTIQ – VectoIQ Acquisition Corp. II (Pre-Deal)
.60% ~ $ 10.07 | BRD – Beard Energy Transition Acquisition Corp. (Pre-Deal)
.51% ~ $ 9.94 | DNAD – Social Capital Suvretta Holdings Corp. IV (Pre-Deal)
.50% ~ $ 9.98 | RCAC – Revelstone Capital Acquisition Corp. (Pre-Deal)
.50% ~ $ 10.01 | FSSI – Fortistar Sustainable Solutions Corp. (Pre-Deal)
.50% ~ $ 10.06 | ASCB – A SPAC II Acquisition Corp. (Pre-Deal)

Biggest Losers

-2.05% ~ $ 16.72 | DWAC – Digital World Acquisition Corp. (Announced)
-1.69% ~ $ 9.88 | HPX – HPX Corp (Announced)
-.94% ~ $ 10.50 | HHGC – HHG Capital Corporation (Pre-Deal)
-.90% ~ $ 9.88 | EUCR – Eucrates Biomedical Acquisition Corp (Pre-Deal)
-.88% ~ $ 10.16 | GSD – Global System Dynamics, Inc. (Pre-Deal)
-.87% ~ $ 10.20 | AXH – Industrial Human Capital, Inc. (Pre-Deal)
-.61% ~ $ 9.73 | JAQC – Jupiter Acquisition Corporation (Pre-Deal)
-.61% ~ $ 9.79 | NFYS – Enphys Acquisition Corp. (Pre-Deal)
-.60% ~ $ 9.87 | APGB – Apollo Strategic Growth Capital II (Pre-Deal)
-.55% ~ $ 10.88 | CLOE – Clover Leaf Capital Corp. (Pre-Deal)
-.51% ~ $ 9.75 | CNDA – Concord Acquisition Corp II (Pre-Deal)
-.40% ~ $ 9.85 | YTPG – TPG Pace Beneficial II Corp. (Pre-Deal)
-.40% ~ $ 10.00 | BYNO – byNordic Acquisition Corporation (Pre-Deal)
-.40% ~ $ 10.02 | PACI – PROOF Acquisition Corp I (Pre-Deal)
-.40% ~ $ 10.02 | PGRW – Progress Acquisition Corp. (Pre-Deal)
-.40% ~ $ 10.05 | PPYA – Papaya Growth Opportunity Corp. I (Pre-Deal)
-.40% ~ $ 10.06 | PRLH – Pearl Holdings Acquisition Corp (Pre-Deal)
-.39% ~ $ 10.12 | IVCA – Investcorp India Acquisition Corp. (Pre-Deal)
-.39% ~ $ 10.15 | BMAQ – Blockchain Moon Acquisition Corp. (Announced)
-.39% ~ $ 10.19 | CITE – Cartica Acquisition Corp (Pre-Deal)

<a href="https://www.boardroomalpha.com/author/draps/" target="_self">David Drapkin</a>

David Drapkin

Spent his formative years at Goldman Sachs and now embraces the start-up life in NYC. A long suffering Oakland (Las Vegas) Raiders fan and graduate of the Wharton School at the University of Pennsylvania. Semi-professional go-kart racer waiting for his shot.

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Monthly SPAC Review

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

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.

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Pacifico Acquisition Corp. (PAFO) are the latest with high redemptions, and the rest of today’s SPAC market news.

SPAC Daily: Thursday, November 17

Cartesian Growth Corporation (GLBL) with another record challenging redemption number plus the rest of the day’s SPAC news.

SPAC Daily: Tues, November 15

DeSPAC FOXO Technologies CEO/COO gets terminated as the stock is in free fall and the rest of today’s SPAC news.

SPAC Daily: Weds, November 9

Things are slow in SPAC land, we give a rundown of today’s happenings, filings and early liquidations in today’s update.

Know Who Drives Return Podcast

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