SPAC Daily: Return of the IPO

by | Aug 5, 2022

After nearly 6 weeks off with no issuance, SPAC IPOs finally returned this week with 2 (huge!) new offerings, including 1 from a repeat sponsor

  • Pono Capital Two, Inc. (PTWO) priced $100M ($10.25 in trust)
  • Mobiv Acquisition Corp (MOBV) priced $87.5 ($10.25 in trust)

Both IPOs were led by EF Hutton. Unsurprising as we know many of the larger banks are on the sideline of SPAC underwriting as the SEC rules are hashed out. Though it’s welcome to see some new issuance in the market (and trade fine), the pace still lags the last two years by a large amount, and there is still an overabundance of aged SPACs in the system that likely will need to be cleared out.

Source: Boardroom Alpha

It was also welcome to see a flurry of new deals announced to start off August after just 11 new DAs were announced in June and July, there have already been 7 new pacts in the first week of August. Let’s see which ones get over the finish line.

Source: Boardroom Alpha

August’s Announced SPAC Deals

Elsewhere in SPACs

  • In an interesting move David Simon resigned as Chairman of Simon Property Group Acquisition Holdings Inc. (SPGS) where his son Eli (who is the CEO) will take over as Chairman as well. He remains CEO of SPG.
  • DPCM Capital Inc. (XPOA) and D-Wave closed their business combination, and the stock will trade as QBTS on Monday. 97% of shareholders elected to redeem.
  • Founder SPAC (FOUN) announced a $150M FPA in conjunction with its proposed combination with Rubicon
  • Chardan Nextech Acquisition 2 Corp. (CNTQ) shareholders approved its extension amendment (lowering the cost for extension to $200k), though 76% of shareholders elected to redeem

Upcoming SPAC Calendar

Full calendar and SPAC database access here

Today’s Price Action

Biggest Gainers

2.65% ~ $ 10.08 | RXRA – RXR Acquisition Corp (Pre-Deal)
1.55% ~ $ 7.88 | CHWA – CHW Acquisition Corp (Announced)
1.22% ~ $ 9.95 | AMCI – AMCI Acquisition Corp. II (Announced)
1.20% ~ $ 10.10 | MEKA – MELI Kaszek Pioneer Corp (Pre-Deal)
.82% ~ $ 9.86 | PEGR – Project Energy Reimagined Acquisition Corp. (Pre-Deal)
.71% ~ $ 9.96 | AIMA – Aimfinity Investment Corp. I (Pre-Deal)
.50% ~ $ 10.02 | BYNO – byNordic Acquisition Corporation (Pre-Deal)
.50% ~ $ 10.05 | FTII – Future Tech II Acquisition Corp. (Pre-Deal)
.50% ~ $ 10.10 | PAFO – Pacifico Acquisition Corp. (Announced)
.41% ~ $ 9.81 | ORIA – Orion Biotech Opportunities Corp. (Pre-Deal)
.40% ~ $ 9.99 | BFAC – Battery Future Acquisition Corp. (Pre-Deal)
.40% ~ $ 10.14 | CENQ – CENAQ Energy Corp. (Pre-Deal)
.35% ~ $ 10.10 | CLAY – Chavant Capital Acquisition Corp. (Pre-Deal)
.31% ~ $ 9.80 | TCVA – TCV Acquisition Corp. (Pre-Deal)
.31% ~ $ 9.82 | IACC – ION Acquisition Corp 3 Ltd. (Pre-Deal)
.31% ~ $ 9.82 | XPAX – XPAC Acquisition Corp (Announced)
.31% ~ $ 9.84 | FTPA – FTAC Parnassus Acquisition Corp. (Pre-Deal)
.30% ~ $ 9.87 | ATAQ – Altimar Acquisition Corp. III (Pre-Deal)
.30% ~ $ 9.87 | PLMI – Plum Acquisition Corp. I (Pre-Deal)
.30% ~ $ 9.88 | GNAC – GROUP NINE ACQUISITION CORP. (Pre-Deal)

Biggest Losers

-13.85% ~ $ 8.15 | FOUN – Founder SPAC (Announced)
-1.28% ~ $ 10.06 | SHAP – Spree Acquisition Corp. 1 Ltd (Pre-Deal)
-.82% ~ $ 9.65 | NFYS – Enphys Acquisition Corp. (Pre-Deal)
-.80% ~ $ 9.86 | IPVF – InterPrivate III Financial Partners Inc. (Announced)
-.78% ~ $ 10.21 | CNTQ – Chardan NexTech Acquisition 2 Corp. (Announced)
-.51% ~ $ 9.69 | WAVC – Waverley Capital Acquisition Corp. 1 (Pre-Deal)
-.40% ~ $ 9.85 | MCAC – Monterey Capital Acquisition Corp (Pre-Deal)
-.40% ~ $ 9.93 | JGGC – Jaguar Global Growth Corp I (Pre-Deal)
-.40% ~ $ 9.98 | LBBB – Lakeshore Acquisition II Corp. (Pre-Deal)
-.40% ~ $ 10.03 | HNRA – HNR Acquisition Corp (Pre-Deal)
-.31% ~ $ 9.70 | CORS – Corsair Partnering Corporation (Pre-Deal)
-.30% ~ $ 9.83 | ACQR – Independence Holdings Corp (Pre-Deal)
-.30% ~ $ 9.85 | FACT – Freedom Acquisition I Corp (Pre-Deal)
-.30% ~ $ 9.87 | GLBL – Cartesian Growth Corporation (Announced)
-.30% ~ $ 9.95 | ARTE – Artemis Strategic Investment Corporation (Announced)
-.30% ~ $ 10.02 | SHCA – Spindletop Health Acquisition Corp. (Pre-Deal)
-.30% ~ $ 10.04 | FEXD – Fintech Ecosystem Development Corp. (Pre-Deal)
-.30% ~ $ 10.04 | MBSC – M3-Brigade Acquisition III Corp. (Pre-Deal)
-.30% ~ $ 10.06 | AFAC – Arena Fortify Acquisition Corp. (Pre-Deal)
-.30% ~ $ 10.09 | JMAC – Maxpro Capital Acquisition Corp. (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.

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

Investing in SPACs for Yield with Jonathan Browne from Robinson Capital

Jonathan Browne from Robinson Capital joins Boardroom Alpha’s David Drapkin to talk about SPAC arbitrage. Robinson Capital’s SPAX ETF launched in June of 2021 and is an actively managed exchange-trade fund (ETF) that invests in Special Purpose Acquisition Companies (SPACs), also known as blank check companies. SPAX seeks to provide total return while minimizing downside risk.

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.

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.


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.