SPAC Daily: Return of Merger Monday

by | Jul 25, 2022

For the first time in recent memory, we had a fairly active SPAC merger Monday with 3 (yes!) 3 new DAs:

  • Frazier Life Sciences Acquisition Corp. (FLAC) and NewAmsterdam Pharma, $326M
  • DUET Acquisition Corp. (DUET) and AnyTech 365, $287M
  • DHC Acquisition Corp. (DHCA) and GloriFi, $1.7B

However, that brings us to GloriFi. Not taking a view on the deal yet (tough to with little information released), though a $1.7B valuation is a bit of head scratcher for a company that feels as if is in a very WIP mode. To boot, this was at the bottom of their Press Release: “Given the Summer Holiday Season, GloriFi intends to Post its Full Investor Presentation After Labor Day”

From GloriFi’s website, looks like most products have yet to launch

That’s definitely a first and doesn’t exactly scream, hey we’re working hard for you. If you can’t even bother to work on a presentation until after Labor Day, what is the point of rushing to announce in July? Watch out high redemptions!

Elsewhere in SPACs

  • Better World Acquisition Corp. (BWAC) set a date for another extension. vote 8/15, out till feb. 44% redeemed in last vote.
  • Abri SPAC (ASPA) and blockchain co Apifiny terminated their previously announced deal. ASPA will look for another target.

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Today’s Price Action

Biggest Gainers

4.16% ~ $ 9.27 | WALD – Waldencast Acquisition Corp. (Announced)
2.49% ~ $ 10.29 | TRON – Corner Growth Acquisition Corp. 2 (Pre-Deal)
.81% ~ $ 9.95 | BCAC – Brookline Capital Acquisition Corp. (Pre-Deal)
.80% ~ $ 10.10 | VMCA – Valuence Merger Corp. I (Pre-Deal)
.71% ~ $ 9.88 | CLAA – Colonnade Acquisition Corp. II (Pre-Deal)
.62% ~ $ 9.73 | HWEL – Healthwell Acquisition Corp. I (Pre-Deal)
.61% ~ $ 9.91 | VBOC – Viscogliosi Brothers Acquisition Corp (Pre-Deal)
.52% ~ $ 9.75 | ALCC – AltC Acquisition Corp. (Pre-Deal)
.52% ~ $ 9.75 | IPAX – Inflection Point Acquisition Corp. (Pre-Deal)
.51% ~ $ 9.83 | GAQ – Generation Asia I Acquisition Ltd (Pre-Deal)
.51% ~ $ 9.90 | IVCP – Swiftmerge Acquisition Corp. (Pre-Deal)
.51% ~ $ 9.94 | FCAX – Fortress Capital Acquisition Corp (Pre-Deal)
.50% ~ $ 10.14 | TOAC – Talon 1 Acquisition Corp (Pre-Deal)
.45% ~ $ 9.99 | DCRD – Decarbonization Plus Acquisition Corp IV (Pre-Deal)
.41% ~ $ 9.70 | JAQC – Jupiter Acquisition Corporation (Pre-Deal)
.41% ~ $ 9.74 | DALS – DA32 Life Science Tech Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.76 | FICV – Frontier Investment Corp (Pre-Deal)
.41% ~ $ 9.76 | DUNE – Dune Acquisition Corporation (Announced)
.41% ~ $ 9.76 | CLBR – Colombier Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.89 | ITQ – Itiquira Acquisition Corp. (Pre-Deal)

Biggest Losers

-5.61% ~ $ 9.42 | CHWA – CHW Acquisition Corp (Announced)
-1.87% ~ $ 31.00 | DWAC – Digital World Acquisition Corp. (Announced)
-1.25% ~ $ 9.48 | NLIT – Northern Lights Acquisition Corp. (Announced)
-1.00% ~ $ 9.91 | GLTA – Galata Acquisition Corp (Pre-Deal)
-.60% ~ $ 9.87 | LCW – Learn CW Investment Corp (Pre-Deal)
-.50% ~ $ 10.00 | PWUP – PowerUp Acquisition Corp. (Pre-Deal)
-.49% ~ $ 10.17 | ACEV – ACE Convergence Acquisition Corp (Announced)
-.44% ~ $ 10.07 | CLAY – Chavant Capital Acquisition Corp. (Pre-Deal)
-.40% ~ $ 9.92 | STET – ST Energy Transition I Ltd. (Pre-Deal)
-.40% ~ $ 10.02 | CFVI – CF Acquisition Corp. VI (Announced)
-.31% ~ $ 9.67 | CDAQ – Compass Digital Acquisition Corp. (Pre-Deal)
-.31% ~ $ 9.70 | BWC – Blue Whale Acquisition Corp I (Pre-Deal)
-.30% ~ $ 9.81 | RACB – Research Alliance Corp. II (Pre-Deal)
-.30% ~ $ 9.82 | LVRA – Levere Holdings Corp (Pre-Deal)
-.30% ~ $ 9.84 | TRIS – Tristar Acquisition I Corp. (Pre-Deal)
-.30% ~ $ 9.93 | GDST – Goldenstone Acquisition Ltd. (Announced)
-.30% ~ $ 9.94 | FATP – FAT PROJECTS ACQUISITION CORP (Pre-Deal)
-.30% ~ $ 9.96 | ALSA – Alpha Star Acquisition Corp (Pre-Deal)
-.30% ~ $ 10.01 | LVAC – LAVA Medtech Acquisition Corp. (Pre-Deal)
-.30% ~ $ 10.04 | LFAC – LF Capital Acquisition Corp. II (Pre-Deal)

<a href="" 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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