SPAC Daily: SCVX Throws in the Towel

by | Jul 27, 2022

SCVX Corporation (SCVCX) was set to vote today on an extension of its SPAC deadline to give them more time to find a deal partner. The terms were for 9 months though they, interestingly, were not providing any compensation (addition to its trust) in order to get the extension. The result? The SPAC is going to liquidate instead.

With SPAC yields still elevated and deals scarce to come by, a simple time value of money lesson would tell you that common shareholders would not stick around for that. The liquidation train is definitely coming…

Recent SPACs to Liquidate

Source: Boardroom Alpha

Elsewhere in SPACs

  • Healthcare Sciences Acquisition Corp. (HSAQ) extension was approved to 11/6/2022. No word on redemptions
  • Software Acquisition Corp. II (SWAG) set a 8/22 vote date for its Nogin deal.
  • Maquia Capital Acquisition Corp. (MAQC) confirmed that it added $0.10 to its trust to extend the SPAC for 3 more months until November. They have no more sponsor exemptions left
  • Waldencast Acquisition Corp. (WALD) announced that its Obagi Skincare & Milk Makeup deal officially closed. The combined company, Waldencast plc, is expected to begin trading on Nasdaq under the ticker WALD tomorrow
  • Duddell Street Acquisition Corp. (DSAC) and FiscalNote deal was approved by shareholders. It is expected to close on Friday and trade as NOTE on Monday Aug-1.

Upcoming SPAC Calendar

Full calendar and SPAC database access here

Today’s SPAC Market Movers

Biggest SPAC Gainers

11.53% ~ $ 10.25 | NLIT – Northern Lights Acquisition Corp. (Announced)
4.37% ~ $ 10.75 | BCAC – Brookline Capital Acquisition Corp. (Pre-Deal)
.61% ~ $ 9.90 | RCAC – Revelstone Capital Acquisition Corp. (Pre-Deal)
.61% ~ $ 9.91 | VBOC – Viscogliosi Brothers Acquisition Corp (Pre-Deal)
.60% ~ $ 10.06 | HNRA – HNR Acquisition Corp (Pre-Deal)
.56% ~ $ 9.95 | ZING – FTAC Zeus Acquisition Corp. (Pre-Deal)
.52% ~ $ 9.72 | NFYS – Enphys Acquisition Corp. (Pre-Deal)
.52% ~ $ 9.75 | IPAX – Inflection Point Acquisition Corp. (Pre-Deal)
.50% ~ $ 10.07 | NETC – Nabors Energy Transition Corp. (Pre-Deal)
.49% ~ $ 10.26 | FST – FAST ACQ CP (Pre-Deal)
.45% ~ $ 10.10 | SWAG – Software Acquisition Group Inc. III (Announced)
.41% ~ $ 9.86 | EBAC – European Biotech Acquisition Corp. (Pre-Deal)
.40% ~ $ 9.92 | MCAC – Monterey Capital Acquisition Corp (Pre-Deal)
.40% ~ $ 9.97 | DRAY – Macondray Capital Acquisition Corp. I (Pre-Deal)
.40% ~ $ 9.98 | RCFA – RCF Acquisition Corp. (Pre-Deal)
.40% ~ $ 10.02 | LIVB – LIV Capital Acquisition Corp. II (Pre-Deal)
.40% ~ $ 10.05 | ASPC – Alpha Capital Acquisition Company (Announced)
.36% ~ $ 30.28 | DWAC – Digital World Acquisition Corp. (Announced)
.36% ~ $ 9.83 | SCAQ – Stratim Cloud Acquisition Corp. (Pre-Deal)
.31% ~ $ 9.66 | DSAC – Duddell Street Acquisition Corp (Announced)

Biggest SPAC Losers

-2.64% ~ $ 9.57 | CHWA – CHW Acquisition Corp (Announced)
-2.14% ~ $ 10.07 | TRON – Corner Growth Acquisition Corp. 2 (Pre-Deal)
-1.46% ~ $ 10.10 | NOVV – Nova Vision Acquisition Corp (Pre-Deal)
-1.05% ~ $ 9.92 | HSAQ – Health Sciences Acquisitions Corporation 2 (Announced)
-.71% ~ $ 9.76 | CCAI – Cascadia Acquisition Corp. (Pre-Deal)
-.60% ~ $ 9.93 | CFFS – CF Acquisition Corp. VII (Pre-Deal)
-.49% ~ $ 10.20 | ACEV – ACE Convergence Acquisition Corp (Announced)
-.40% ~ $ 9.91 | MEKA – MELI Kaszek Pioneer Corp (Pre-Deal)
-.40% ~ $ 9.95 | JUN – Juniper II Corp. (Pre-Deal)
-.40% ~ $ 9.98 | PHYT – Pyrophyte Acquisition Corp. (Pre-Deal)
-.40% ~ $ 10.06 | LJAQ – LIGHTJUMP ACQUISITION CORPORATION (Announced)
-.30% ~ $ 9.85 | CLAA – Colonnade Acquisition Corp. II (Pre-Deal)
-.30% ~ $ 9.89 | FCAX – Fortress Capital Acquisition Corp (Pre-Deal)
-.30% ~ $ 9.96 | SUAC – ShoulderUP Technology Acquisition Corp. (Pre-Deal)
-.30% ~ $ 9.97 | BCSA – Blockchain Coinvestors Acquisition Corp. I (Pre-Deal)
-.30% ~ $ 9.99 | SCMA – Seaport Calibre Materials Acquisition Corp. (Pre-Deal)
-.30% ~ $ 10.07 | VMCA – Valuence Merger Corp. I (Pre-Deal)
-.29% ~ $ 10.23 | FOXW – FoxWayne Enterprises Acquisition Corp. (Pre-Deal)
-.26% ~ $ 9.77 | GFGD – Growth for Good Acquisition Corp (Pre-Deal)
-.25% ~ $ 9.79 | KVSA – Khosla Ventures Acquisition Co (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.

Learn More

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.

Learn More

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

SPAC Daily: Return of the IPO

Aug 5, 2022

Return of the SPAC IPOs after a hiatus, August new deals are off to a hot start, and the rest of the day’s news in SPACs.

Know Who Drives Return Podcast

Investing in SPACs for Yield with Jonathan Browne from Robinson Capital

Oct 4, 2021

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

Sep 24, 2021

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

Sep 16, 2021

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

Sep 9, 2021

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.

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.