SPAC Deals in Plant-Based Proteins and Med Tech

by | Jun 15, 2022

Cannabis SaaS player SpringBig already running on fumes, losing 47% in its first day of trading. Grove Collaborative gets the green light. And the rest of the day’s news in SPACs.

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SPAC Deal: FHLT/ Excelera

Future Health ESG Corp. (FHLT) announces DA with Excelera, a “leading accountable care organization and AI platform.” The transaction values Excelera at $459 million and includes a $100M PIPE priced at $11. Trust size $201M.

SPAC Deal: LJAQ / Moolec

LightJump Acquisition Corp. (LJAQ) announces DA with Moolec, a “science-based food ingredient company.” The transaction values the company at a $504M equity value and includes a $10M backstop. $138M in trust.

SBIG Drops 50% in its First Day of Trading

SaaS-based cannabis marketing platform Springbig (SBIG) deSPAC’d from Tuatara Capital Acquisition Corp. today. Shares traded down 47% to close at $4.50.

VGII/ Grove Collaborative: Merger approved

Virgin Group Acquisition Corp. II (VGII) approves merger with sustainable household products supplier Grove Collaborative. No information on redemptions. Grove Collaborative will trade on the NYSE as GROV on 6/17.

ACKIT Extension

Ackrell SPAC Partners (ACKIT) to add $0.043 / share or $200k each month it extends past June to Sept. Vote on 6/21.

DUNE Extension

Dune Acquisition Corp. (DUNE) gets an 18 month extension to December 22, 2023. Shares redeemed: 16,409,033 (95.1%). $8.4M in trust.

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<a href="https://www.boardroomalpha.com/author/joanna/" target="_self">Joanna Makris</a>

Joanna Makris

Joanna has been analyzing and investing in emerging technologies for over two decades, having led the Technology, Media, and Telecom research at several global investment banks, including Mizuho Securities and Canaccord Genuity. Navigating stock market volatility since it all began in 2000. Banjo player, artist, and frittata-maker.

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SPAC Research & Analysis

MSP Recovery Sinks

MSP Recovery (MSPR) sinks, falling 53% on its debut. Biote gets approval. Lots of extension votes ahead. And the rest of the day’s news in SPACs.

MSP Recovery Debuts Tomorrow

Medicare and Medicaid secondary payer reimbursement recovery specialist MSP Recovery (MSPR) begins trading tomorrow. Extension for TINV/Grindr. And the rest of the day’s news in SPACs.

Comera Life Sciences Debuts in the Red

Comera Life Sciences (CMRA), the maker of self-injectible biologics, deSPAC’d today, closing down 9%. An updated look at deSPAC count and redemption rates. And the rest of the day’s news in SPACs.

Know Who Drives Return Podcast

Sonder’s Francis Davidson on Re-Designing Hospitality and Merger with GMII

For the latest Know Who Drives Return episode, we sat down with Francis Davidson, the founder and CEO of Sonder, a hospitality company that leases and manages travel properties. Sonder is valued at nearly $2B and is going public through Gores Metropolous II. Francis, at just 29 years old, has been able to rapidly scale the company that he founded 8 years ago as a student at McGill University in Quebec. Will Sonder succeed in grabbing a larger share of the lodging space? Have a listen and read our full report on the Sonder deal.

Amy Nauiokas on FinTech VC, SPACs, Diversity, and Anthemis Digital (ADAL)

We were fortunate to sit down with Amy Nauiokas, the Co-Founder, Co-Chair, and Co-CIO of fintech investing platform Anthemis ($1.2B in AUM), who has been a leading fintech investor for nearly 15 years. Though she has a career that us regular folks might find astounding given she also runs a film and television production company, Archer Gray, which promotes story telling from diverse individuals.

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