SPAC Daily: Wednesday, November 23

by | Nov 23, 2022

Chart of the Day

Happy (early) Thanksgiving! The SPAC market itself seems to be doing the most eating as 53 SPACs have already liquidated without a deal in 2022 and over 30 have scheduled EARLY liquidation votes.

Source: Boardroom Alpha

That liquidation number is likely to remain elevated as we continue to creep closer to the great maturity wall of early 2023.

Source: Boardroom Alpha

This Week in SPACs

  • “Trump SPAC” Digital World Acquisition Corp (DWAC) FINALLY scraped enough shareholders together to extend its deadline date out till September 2023. The SPAC’s shares have spiked on the news
DWAC shares rose after shareholders granted them an extension
  • Gores makes it official as three different Gores SPACs (GTPA, GTPB, GSEV) have set their early liquidation votes for Mid-December and all signs are pointing to an early liquidation
  • Despite the holiday shortened week, 5 SPACs announced DAs:
    • Hainan Mansalu (HMAC) and Able View, $400M EV
    • Forest Road Acquisition Corp. II (FRXB) and HyperloopTT, $600M EV
    • Western Ventures Acquisition Corp. (WAVS) and Cycurion, $170M EV
    • CIIG Capital Partners II (CIIG) and Zapp, $573MM EV
    • Industrial Tech Acquisitions II (ITAQ) and NEXT Renewable Fuels, $530M EV
  • OceanTech Acquisition Corp. (OTEC) needs over 500k shares to reverse their redemptions in order to effect their voted extension
  • Serial SPAC sponsor Northern Star is bucking the liquidation trend and filed preliminary extension vote proxies for three of their outstanding SPACs NSTB, NSTC, and NSTD
  • Three SPAC deals closed and began trading under new tickers
    • ACEV –> Tempo Automation (TMPO)
    • PTIC –> Appreciate Holdings (SFR)
    • FLAC –> NewAmsterdam Pharma (NAMS)
  • Angel Pond Holdings Corp. (POND) shareholders approved their deal with MariaDB, no word on redemptions nor time to close

SPAC Calendar

<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.

SPAC Market Review – July 2022

Aug 2, 2022

Liquidations, cancelled deals, and a dead IPO market highlight Boardroom Alpha’s July 2022 SPAC market review. Read for a full recap.

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.