An unprecedented FOUR SPACs expected to price their IPOs Thursday.
We’ve got a quadruple header…EdTechX, Arya Sciences, ChaSerg and Collier Creek are all expected to price their IPOs this evening for trading Friday. Suit up and get ready because another $730 million worth of SPACs are about to hit the market. Plus, that means our total 2018 deal count jumps to 37 with $8.952 billion in gross proceeds sold (before any up-sizes or over-allotments).
It will be interesting to see which ones upsize and how they trade tomorrow given that all four have different structures and focuses.
However, since we have an abundance of SPACs, the terms have been summarized below in a grid so you can compare, starting from smallest to largest.
We’ll be watching to see if anything changes, but as of right now, this is a record number of SPAC IPOs for one day. Exciting stuff…
At the SPAC of Dawn After a tepid month for SPAC activity in April, prominent teams are already scheduling things to make for some fireworks in early May. AltC (NYSE:ALCC) has already been turning heads as being the rare SPAC to trade significantly above trust value before close, and it has now booked the completion...
At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...