SPAC Daily: Athena Consumer Strikes German EV Deal

by | Jul 28, 2022

What is this, 2021!? In the current era where SPACs are less EV and techy, Athena Consumer Acquisition (ACAQ) turned back the clock in announcing a $913M enterprise value deal for German EV producer Next.e.GO. They mention 1,000 cars have been produced and on the road, yet provided little detail on the actual financials of the company. As is standard today, there was little movement on the commons, yet ACAQ warrants did jump 50% to $0.18.

Source: Investor Deck

Elsewhere in SPACs

  • Getty Images (GETY) disclosed its redemption numbers, leaving just over 500k shares of public float. Meme alert.
  • CHW Acquisition Corp (CHWA) shareholders approved its deal with Wag!, unsurprisingly shareholders redeemed 98% of the SPAC. Perhaps with the early announcement in PR the company (as we’ve seen a few times before) might get some redemption reversals
  • Edoc Acquisition Corp. (ADOC) filed for another extension (this will be their second) vote 8/12, seeking 6 months till February and depositing $0.033 monthly.

Upcoming SPAC Calendar

Full calendar and SPAC database access here

Today’s SPAC Market Movers

Biggest SPAC Gainers

1.02% ~ $ 9.86 | CCAI – Cascadia Acquisition Corp. (Pre-Deal)
.90% ~ $ 10.07 | PHYT – Pyrophyte Acquisition Corp. (Pre-Deal)
.69% ~ $ 10.22 | AMAO – American Acquisition Opportunity Inc (Announced)
.61% ~ $ 9.91 | VBOC – Viscogliosi Brothers Acquisition Corp (Pre-Deal)
.52% ~ $ 9.75 | IPAX – Inflection Point Acquisition Corp. (Pre-Deal)
.50% ~ $ 10.04 | AVAC – Avalon Acquisition Inc. (Pre-Deal)
.46% ~ $ 9.92 | LCW – Learn CW Investment Corp (Pre-Deal)
.42% ~ $ 9.88 | RMGC – RMG Acquisition Corp. III (Pre-Deal)
.41% ~ $ 9.80 | GFOR – Graf Acquisition Corp. IV (Pre-Deal)
.41% ~ $ 9.88 | SLAC – Social Leverage Acquisition Corp I (Pre-Deal)
.41% ~ $ 9.89 | BLUA – BlueRiver Acquisition Corp (Pre-Deal)
.41% ~ $ 9.91 | LHC – Leo Holdings Corp. II (Pre-Deal)
.40% ~ $ 9.98 | RCFA – RCF Acquisition Corp. (Pre-Deal)
.40% ~ $ 9.99 | BNIX – Bannix Acquisition Corp. (Pre-Deal)
.40% ~ $ 10.11 | VMCA – Valuence Merger Corp. I (Pre-Deal)
.31% ~ $ 9.84 | FRON – Frontier Acquisition Corp. (Pre-Deal)
.31% ~ $ 9.85 | AGAC – African Gold Acquisition Corporation (Pre-Deal)
.30% ~ $ 9.87 | GSQD – G Squared Ascend I Inc. (Announced)
.30% ~ $ 9.88 | SPGS – Simon Property Group Acquisition Holdings, Inc. (Pre-Deal)
.30% ~ $ 9.89 | RFAC – RF Acquisition Corp. (Pre-Deal)

Biggest SPAC Losers

-12.63% ~ $ 8.72 | XPOA – DPCM Capital Inc (Announced)
-9.54% ~ $ 9.20 | LNFA – L&F Acquisition Corp (Announced)
-8.46% ~ $ 9.20 | ASPC – Alpha Capital Acquisition Company (Announced)
-8.26% ~ $ 9.30 | FOUN – Founder SPAC (Announced)
-7.02% ~ $ 9.53 | NLIT – Northern Lights Acquisition Corp. (Announced)
-6.23% ~ $ 10.08 | BCAC – Brookline Capital Acquisition Corp. (Pre-Deal)
-3.34% ~ $ 9.25 | CHWA – CHW Acquisition Corp (Announced)
-1.55% ~ $ 9.51 | DSAC – Duddell Street Acquisition Corp (Announced)
-1.46% ~ $ 10.10 | NOVV – Nova Vision Acquisition Corp (Pre-Deal)
-.51% ~ $ 9.73 | THCP – Thunder Bridge Capital Partners IV, Inc. (Announced)
-.40% ~ $ 10.04 | DMAQ – Deep Medicine Acquisition Corp. (Announced)
-.39% ~ $ 10.19 | FOXW – FoxWayne Enterprises Acquisition Corp. (Pre-Deal)
-.30% ~ $ 9.82 | ROSS – Ross Acquisition Corp II (Pre-Deal)
-.30% ~ $ 9.84 | VTIQ – VectoIQ Acquisition Corp. II (Pre-Deal)
-.30% ~ $ 9.87 | RCAC – Revelstone Capital Acquisition Corp. (Pre-Deal)
-.30% ~ $ 10.03 | TLGY – TLGY Acquisition Corp (Pre-Deal)
-.30% ~ $ 30.19 | DWAC – Digital World Acquisition Corp. (Announced)
-.24% ~ $ 9.85 | COVA – Crescent Cove Acquisition Corp. (Announced)
-.22% ~ $ 10.04 | HNRA – HNR Acquisition Corp (Pre-Deal)
-.21% ~ $ 9.61 | SCRM – Screaming Eagle 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.

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

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

SPAC Research & Analysis

SPACs, FOMO, and Tail Risk – Matthew Tuttle Captures the Momentum

Matthew Tuttle from Tuttle Capital joins David Drapkin to talk about SPACs, FOMO, and tail risk. Tuttle Capital’s thematic and actively managed ETFs are taking advantage of the SPAC craze, everybody’s FOMO (fear of missing out), and protecting the downside tail risk.

Kyle Bransfield and Ruben Minski on the Union Acquisition II / Procaps SPAC Deal

Boardroom Alpha’s David Drapkin welcomes Union Acquisition II CEO Kyle Bransfield and Procaps CEO Ruben Minski to the podcast. The deal goes to vote on September 22, 2021 and ex-redemption on September 17, so this will be one of shareholders’ last opportunities to hear from the team before deciding to redeem or go long alongside Kyle and Ruben.

Sarcos CEO Ben Wolff on Robotics and SPACs

Ben Wolff, CEO of Sarcos, talks to Boardroom Alpha’s David Drapkin about robots, SPACs, and why investors should be looking at Sarcos as an opportunity to invest.

Know Who Drives Return Podcast

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

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.