SPAC Daily: 3 DAs to Kick off Week

by | Oct 17, 2022

Happy Monday! 3 new Definitive Agreements were announced today (or technically 2 if you count a Saturday international deal), to kick things off with a little bit of a Merger Monday bang. Included were another private jet company choosing the SPAC route, and a biotech:

Today’s new SPAC DAs

We recap the rest of the day’s SPAC news below.

Elsewhere in SPACs

  • Malacca Straits Acquisition Corp. (MLAC) is likely the lowest-float pre-deal SPAC as it disclosed it has just over 500k shares left in trust following its extension vote
  • Sanaby Health Acquisition Corp. I (SANB) will liquidate on 10/19 at ~$10.22 share
  • Bridgetown Holdings Limited (BTWN) disclosed it has over 15M shares left in trust following its extension vote
  • African Gold Acquisition Corp. (AGAC) is being investigated by the SEC and the DOJ advised that a grand jury subpoena has been issued against them

SPAC Calendar

Today’s Movers

Biggest Gainers

1.96% ~ $ 10.38 | MTRY – Monterey Bio Acquisition Corp (Pre-Deal)
1.83% ~ $ 9.99 | PANA – Panacea Acquisition Corp. II (Pre-Deal)
1.59% ~ $ 10.25 | MAAQ – Mana Capital Acquisition Corp. (Announced)
1.11% ~ $ 10.00 | PNAC – Prime Number Acquisition I Corp. (Pre-Deal)
.92% ~ $ 9.92 | BTWN – Bridgetown Holdings Ltd (Pre-Deal)
.90% ~ $ 10.14 | HNRA – HNR Acquisition Corp (Pre-Deal)
.81% ~ $ 9.94 | XPDB – Power Digital Infrastructure Acquisition II Corp. (Pre-Deal)
.81% ~ $ 10.01 | INTE – Integral Acquisition Corp 1 (Pre-Deal)
.79% ~ $ 10.18 | TGR – Kimbell Tiger Acquisition Corp (Pre-Deal)
.77% ~ $ 10.43 | MPAC – Model Performance Acquisition Corp (Announced)
.70% ~ $ 10.02 | ARTE – Artemis Strategic Investment Corporation (Announced)
.70% ~ $ 10.07 | BRAC – Broad Capital Acquisition Corp (Pre-Deal)
.61% ~ $ 9.82 | SLVR – SILVERspac Inc (Pre-Deal)
.61% ~ $ 9.96 | INAQ – Insight Acquisition Corp. (Pre-Deal)
.60% ~ $ 10.13 | ARGU – Argus Capital Corp. (Pre-Deal)
.52% ~ $ 10.20 | TETE – Technology Telecommunication Acquisition Corp (Pre-Deal)
.51% ~ $ 9.84 | PEGR – Project Energy Reimagined Acquisition Corp. (Pre-Deal)
.51% ~ $ 9.91 | IPVI – InterPrivate IV InfraTech Partners Inc. (Pre-Deal)
.50% ~ $ 9.99 | DUET – DUET Acquisition Corp. (Announced)
.50% ~ $ 10.03 | WWAC – Worldwide Webb Acquisition Corp. (Pre-Deal)

Biggest Losers

-7.89% ~ $ 16.11 | DWAC – Digital World Acquisition Corp. (Announced)
-6.87% ~ $ 9.22 | LMAO – LMF Acquisition Opportunities, Inc. (Announced)
-1.39% ~ $ 9.90 | BOAS – BOA Acquisition Corp. (Announced)
-1.25% ~ $ 10.55 | HHGC – HHG Capital Corporation (Pre-Deal)
-.77% ~ $ 10.30 | FLYA – SOAR Technology Acquisition Corp. (Pre-Deal)
-.59% ~ $ 10.18 | ACEV – ACE Convergence Acquisition Corp (Announced)
-.51% ~ $ 9.81 | HWKZ – Hawks Acquisition Corp (Pre-Deal)
-.41% ~ $ 9.82 | DGNU – Dragoneer Growth Opportunities Corp. III (Pre-Deal)
-.40% ~ $ 9.95 | HZON – Horizon Acquisition Corporation II (Announced)
-.40% ~ $ 9.98 | SMAP – Sportsmap Tech Acquisition Corp. (Pre-Deal)
-.40% ~ $ 10.03 | ALOR – ALSP Orchid Acquisition Corp I (Pre-Deal)
-.40% ~ $ 10.08 | SHAP – Spree Acquisition Corp. 1 Ltd (Pre-Deal)
-.35% ~ $ 9.94 | CHAA – Catcha Investment Corp (Pre-Deal)
-.30% ~ $ 9.83 | PSPC – Post Holdings Partnering Corporation (Pre-Deal)
-.30% ~ $ 9.88 | SPTK – SportsTek Acquisition Corp. (Pre-Deal)
-.30% ~ $ 9.89 | IPVF – InterPrivate III Financial Partners Inc. (Announced)
-.30% ~ $ 9.92 | LDHA – LDH Growth Corp I (Pre-Deal)
-.30% ~ $ 10.13 | AMAO – American Acquisition Opportunity Inc (Announced)
-.29% ~ $ 10.24 | MCAA – Mountain Co. I Acquisition Corp. (Pre-Deal)
-.29% ~ $ 10.43 | MBTC – Nocturne Acquisition Corporation (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.

Know Who Drives Return

Objective, data-driven assessments for every public company director and officer.

Learn More

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.

Learn More

Monthly SPAC Review

SPAC Market Review – January 2023

Feb 6, 2023

It was a slower month to kick off the year for SPACs. In what stands to be a pivotal year for the future of the market, we recap January.

SPAC Market Review – December 2022

Jan 3, 2023

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

Dec 7, 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: Thurs, Feb 9

Feb 9, 2023

Nelzon Peltz and Trian dropped their proxy fight against Walt Disney Co. (DIS) following Disney’s cost cutting, reorg, and board appointments.

Boardroom Alpha Digest: Wed, Feb 8

Feb 8, 2023

Amidst a proxy fight with Trian, Walt Disney Co. (DIS) announced that it will cut ~7k jobs as part of a $5.5B cost savings plan.

SPAC Market Review – January 2023

Feb 6, 2023

It was a slower month to kick off the year for SPACs. In what stands to be a pivotal year for the future of the market, we recap January.

Boardroom Alpha Digest: Wed, Feb 1

Feb 1, 2023

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

Podcast: Westrock Coffee CEO Scott Ford

Jul 28, 2022

Join David Drapkin as he speaks to Westrock Coffee CEO Scott Ford. Westrock Coffee is going public company via a $1.1B deal with Riverview Acquisition Corporation (RVAC).

NYC Pension Funds Want Amazon Accountable for Human Capital

May 6, 2022

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.

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.