SPAC Daily: DNAA / AKILI With a Wild Ride

by | Aug 22, 2022

The second of Chamath Palihapitiya‘s Social Capital, Suvretta line of SPACs closed its deal with Akili Interactive Labs (AKLI) and its ticker change today brought about a wild day of trading. As we’re quite familiar with these days, many low-float / high redemption SPACS have wild gamma squeezes and big runs, and DNAA/AKLI was no different after 99% of its SPAC redeemed last week.

DNAA/AKLI started they day around $9 and rose all the way up to $65 before closing the day down ~49% to close at $7.15. Wild rollercoaster if you were able to be on the right side of things. News making, and noise making for Chamath, who has been notoriously quiet as of late in the midst of his once glorious SPAC track record taking a beating.

Elsewhere in SPACs

  • Software Acquisition Corp. III (SWAG) held its vote with Noggin today, and the company disclosed that (as of Friday) nearly 19M shares redeemed, a very high percentage of the float save for a backstop.
  • E.Merge Technology Acquisition Corp. (ETAC) announced that they will liquidate on 9/4 at $10.06 a share in trust
  • East Stone Acquisition (ESSC) shareholders approved its extension to February with 22k shares redeeming at $10.29
  • Bluescape Opportunities Acquisition Corp. (BOAC) set a vote date of 9/22/2022 for a 1-year extension vote out till October 2023

Today’s SPAC Movers

Biggest SPAC Gainers

1.81% ~ $ 10.14 | FVAM – 501 ACQ CORP (Pre-Deal)
.75% ~ $ 10.06 | HAIA – Healthcare AI Acquisition Corp. (Pre-Deal)
.61% ~ $ 9.90 | AMCI – AMCI Acquisition Corp. II (Announced)
.60% ~ $ 10.06 | FRBN – Forbion European Acquisition Corp. (Pre-Deal)
.50% ~ $ 9.98 | JUN – Juniper II Corp. (Pre-Deal)
.50% ~ $ 10.09 | DMAQ – Deep Medicine Acquisition Corp. (Announced)
.48% ~ $ 9.97 | DUET – DUET Acquisition Corp. (Announced)
.41% ~ $ 9.79 | BSAQ – Black Spade Acquisition Co (Pre-Deal)
.41% ~ $ 9.86 | GAQ – Generation Asia I Acquisition Ltd (Pre-Deal)
.41% ~ $ 9.87 | POND – Angel Pond Holdings Corp (Announced)
.41% ~ $ 9.88 | NSTC – Northern Star Investment Corp. III (Pre-Deal)
.41% ~ $ 9.90 | TRIS – Tristar Acquisition I Corp. (Pre-Deal)
.40% ~ $ 9.97 | UTAA – UTA Acquisition Corporation (Pre-Deal)
.40% ~ $ 10.00 | GAPA – G&P Acquisition Corp. (Pre-Deal)
.40% ~ $ 10.01 | IPOD – Social Capital Hedosophia Holdings Corp IV (Pre-Deal)
.39% ~ $ 10.18 | SWAG – Software Acquisition Group Inc. III (Announced)
.39% ~ $ 10.26 | CLAQ – cleantech Acquisition Corp. (Announced)
.39% ~ $ 10.40 | ATA – AMERICAS TECHNOLOGY ACQUISITION CORP. (Announced)
.36% ~ $ 9.82 | DNAD – Social Capital Suvretta Holdings Corp. IV (Pre-Deal)
.35% ~ $ 10.05 | TLGY – TLGY Acquisition Corp (Pre-Deal)

Biggest SPAC Losers

-2.12% ~ $ 9.71 | TPBA – TPB Acquisition Corporation I (Pre-Deal)
-1.91% ~ $ 10.27 | RAM – Aries I Acquisition Corp (Announced)
-1.83% ~ $ 9.13 | NLIT – Northern Lights Acquisition Corp. (Announced)
-1.00% ~ $ 9.87 | ARYD – ARYA Sciences Acquisition Corp IV (Pre-Deal)
-.91% ~ $ 9.84 | SLCR – Silver Crest Acquisition Corporation (Announced)
-.90% ~ $ 9.86 | NFNT – Infinite Acquisition Corp. (Pre-Deal)
-.69% ~ $ 10.02 | SHAP – Spree Acquisition Corp. 1 Ltd (Pre-Deal)
-.69% ~ $ 10.08 | ERES – East Resources Acquisition Company (Pre-Deal)
-.60% ~ $ 9.96 | TEKK – Tekkorp Digital Acquisition Corp (Pre-Deal)
-.59% ~ $ 10.10 | AMAO – American Acquisition Opportunity Inc (Announced)
-.52% ~ $ 9.64 | NFYS – Enphys Acquisition Corp. (Pre-Deal)
-.49% ~ $ 10.06 | CFVI – CF Acquisition Corp. VI (Announced)
-.40% ~ $ 9.84 | TCOA – Trajectory Alpha Acquisition Corp. (Pre-Deal)
-.40% ~ $ 9.86 | COVA – Crescent Cove Acquisition Corp. (Announced)
-.40% ~ $ 9.99 | LSPR – Larkspur Health Acquisition Corp. (Announced)
-.40% ~ $ 10.01 | LIVB – LIV Capital Acquisition Corp. II (Announced)
-.40% ~ $ 10.02 | SHCA – Spindletop Health Acquisition Corp. (Pre-Deal)
-.35% ~ $ 9.96 | SAGA – Sagaliam Acquisition Corp (Pre-Deal)
-.31% ~ $ 9.72 | ALCC – AltC Acquisition Corp. (Pre-Deal)
-.31% ~ $ 9.73 | CPAA – Conyers Park III 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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