SPAC Daily: Chamath’s DNAC Adjourns With no Vote

by | Jul 6, 2022

DNAC is the latest in a string of SPACs that appears to be having more trouble than expected in getting across the finish line.

Chamath Palihapitiya’s Social Capital Suvretta Holdings Corp. III (DNAC) was set to vote on its merger with ProKidney but instead adjourned to a later date yet to be named. The delay will give the SPAC and company more time to meet its closing conditions.

There was one new definitive agreement today as HPX Corp. (HPX) announced a $581M transaction for Brazilian Environmental and Industrial Solutions Provider Ambipar Response. The deal includes $168M in way of guaranteed proceeds by way of PIPE commitments and share backstops.

See their investor deck here.

Recent SPAC Market Activity Remains Muted

Source: Boardroom Alpha

Elsewhere in SPACs

  • GOBI Acquisition Corp. (GOBI) set its vote for July 22 to accelerate liquidation by changing the business combination deadline to July 22
  • Ace Global Business Acquisition Limited (ACBA) confirms the addition of $455k ($0.099 per share) to trust to extend its deadline date out till October 8
  • Founder SPAC (FOUN) set its merger vote date for August 2, it has a pending business combination with Rubicon Technologies

Upcoming SPAC Calendar

Today’s Price Action

Biggest Gainers

5.11% ~ $ 8.84 | DNAC – Social Capital Suvretta Holdings Corp. III (Announced)
1.57% ~ $ 10.05 | MEAC – Mercury Ecommerce Acquisition Corp (Pre-Deal)
.62% ~ $ 9.79 | LITT – Logistics Innovation Technologies Corp. (Pre-Deal)
.61% ~ $ 9.82 | GLHA – Glass Houses Acquisition Corp. (Pre-Deal)
.60% ~ $ 10.01 | IVCA – Investcorp India Acquisition Corp. (Pre-Deal)
.59% ~ $ 9.91 | MTVC – Motive Capital Corp II (Pre-Deal)
.55% ~ $ 10.06 | ACAQ – Athena Consumer Acquisition Corp. (Pre-Deal)
.51% ~ $ 9.83 | IPVI – InterPrivate IV InfraTech Partners Inc. (Pre-Deal)
.50% ~ $ 9.97 | SMAP – Sportsmap Tech Acquisition Corp. (Pre-Deal)
.50% ~ $ 10.04 | AFAC – Arena Fortify Acquisition Corp. (Pre-Deal)
.46% ~ $ 9.84 | RCAC – Revelstone Capital Acquisition Corp. (Pre-Deal)
.45% ~ $ 10.11 | PLAO – Patria Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.75 | ZT – Zimmer Energy Transition Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.82 | ACQR – Independence Holdings Corp (Pre-Deal)
.41% ~ $ 9.85 | IXAQ – IX Acquisition Corp. (Pre-Deal)
.40% ~ $ 9.95 | DRAY – Macondray Capital Acquisition Corp. I (Pre-Deal)
.40% ~ $ 9.96 | BRKH – BurTech Acquisition Corp. (Pre-Deal)
.40% ~ $ 9.99 | RVAC – Riverview Acquisition Corp. (Announced)
.40% ~ $ 10.04 | UPTD – TradeUP Acquisition Corp (Pre-Deal)
.35% ~ $ 9.92 | ASPC – Alpha Capital Acquisition Company (Announced)

Biggest Losers

-3.49% ~ $ 10.24 | NLIT – Northern Lights Acquisition Corp. (Announced)
-1.25% ~ $ 23.72 | DWAC – Digital World Acquisition Corp. (Announced)
-1.19% ~ $ 10.00 | CBRG – Chain Bridge I (Pre-Deal)
-1.00% ~ $ 9.90 | CFFS – CF Acquisition Corp. VII (Pre-Deal)
-.86% ~ $ 9.79 | NHIC – NewHold Investment Corp. II (Pre-Deal)
-.60% ~ $ 9.95 | CFVI – CF Acquisition Corp. VI (Announced)
-.57% ~ $ 10.46 | BRLI – Brilliant Acquisition Corporation (Announced)
-.50% ~ $ 9.99 | HCMA – HCM Acquisition Corp (Pre-Deal)
-.49% ~ $ 10.09 | MEOA – Minority Equality Opportunities Acquisition Inc. (Pre-Deal)
-.41% ~ $ 9.65 | SLVR – SILVERspac Inc (Pre-Deal)
-.41% ~ $ 9.78 | KYCH – Keyarch Acquisition Corp (Pre-Deal)
-.35% ~ $ 9.83 | BIOT – Biotech Acquisition Company (Pre-Deal)
-.31% ~ $ 9.66 | HWEL – Healthwell Acquisition Corp. I (Pre-Deal)
-.31% ~ $ 9.71 | SMIH – Summit Healthcare Acquisition Corp. (Pre-Deal)
-.31% ~ $ 9.73 | XPAX – XPAC Acquisition Corp (Announced)
-.31% ~ $ 9.77 | THCP – Thunder Bridge Capital Partners IV, Inc. (Announced)
-.31% ~ $ 9.80 | OHPA – Orion Acquisition Corp. (Pre-Deal)
-.31% ~ $ 9.80 | ZWRK – Z-Work Acquisition Corp. (Pre-Deal)
-.30% ~ $ 9.82 | GSQD – G Squared Ascend I Inc. (Announced)
-.30% ~ $ 9.83 | RFAC – RF Acquisition Corp. (Pre-Deal)

Recent Analysis

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PLMI Extension Vote. TETE Extends. COOL Sets Extension Vote. GPAC Investor Deck. BAYA, RCFA, GAMC Merger Agreements. COOL, RWOD, FLFV Update Trust Values.

Daily SPAC Update – June 13, 2024

Catcha Investment (CHAA) + Crown LNG Approved. DHAC + VSee Labs Deal Approved. SEDA Investor Deck. Feutune Light (FLFV) Updates Trust & Redemptions.

Daily SPAC Update – June 10, 2024

Bayview Acquisition Corp + Oabay Inc. SPAC deal announced. EVE extension vote today. BUJA sets extension vote. PWUP amends merger agreement. COOL postpones to June 26.

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