SPACs Edge Higher, CCIV shareholders vote tomorrow

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SPACs edged up slightly with the pre-trade average SPAC now trading at $ 9.78, although still a very good reduction from SPAC NAV. Tomorrow will be the much anticipated CCIV / Lucid Motors shareholder vote, setting up a close and ticker change next week.

ICYMI: a PSPC risk exposed?

Wednesday merge activity

Two M&A announcements at an odd time today. First, late this morning, Electrical and digital infrastructure acquisition company (XPDI) announced an agreement with Basic scientist. XPDI stock rose + 1.33% to close at $ 9.93.

Then, in the even rarer ad after the afternoon close, MDH acquisition company (MDH) announced a business combination with Olive.com an online vehicle protection and payment platform. The deal values ​​Olive.com at an enterprise value of $ 959 million and includes a PIPE of $ 15 million and approximately $ 276 million currently in MDH’s trust account.

MDH’s common stock closed today at $ 9.66 and is trading slightly higher after market news, + 1.45% as of this writing.

Votes and redemptions

Ascendant Digital Acquisition Corp. (ACND) approved its business combination with MarketWise, yesterday but disclosed this morning a 94% huge of his confidence redeemed with the vote – leaving only ~ $ 25 million on a PSPC of $ 414 million. ACND actually rose + 8.55% today to $ 9.55.

Tuscan Holdings Corp. (THCB) Business combination approved with Microvast, today. Expect buyouts to be low on this one.

10X Capital Venture Acquisition Corp (VCVC) approved its merger with REE Automotive, pending redemptions which should be low.

Today’s price action

The biggest winners

11.16% ~ $ 12.35 | FWAA – Fifth Wall Acquisition Corp. I (Announced)
3.66% ~ $ 11.34 | MUDS – Mudrick Capital Acquisition Corporation II (Announced)
3.53% ~ $ 10.26 | VCVC – 10X Capital Venture Acquisition Corp (Announced)
2.56% ~ $ 10.00 | WPCB – Warburg Pincus Capital Corporation I — B (Pre-Deal)
2.31% ~ $ 13.72 | GHVI – Gores Holdings VI Inc (Announced)
2.06% ~ $ 9.89 | FRON – Frontier Acquisition Corp. (Pre-Deal)
1.98% ~ $ 17.49 | RICE – Rice Acquisition Corp. (Ad)
1.89% ~ $ 10.77 | PDAC – Peridot Acquisition Corp (Announced)
1.64% ~ $ 9.91 | NGC – Northern Genesis Acquisition Corp. III (Before the transaction)
1.55% ~ $ 12.48 | CMLF – CM Life Sciences Inc (Announced)
1.42% ~ $ 9.99 | EUCR – Eucrates Biomedical Acquisition Corp (Pre-Deal)
1.42% ~ $ 10.75 | VACQ – Vector Acquisition Corp (Announced)
1.33% ~ $ 9.93 | XPDI – Power & Digital Infrastructure Acquisition Corp. (Ad)
1.24% ~ $ 9.82 | IPVI – InterPrivate IV InfraTech Partners Inc. (Pre-Deal)
1.21% ~ $ 10.02 | NGCA – NextGen Acquisition Corp. II (Pre-Deal)
1.15% ~ $ 10.09 | DCRC – Decarbonization Plus Acquisition Corporation III (Announced)
1.11% ~ $ 11.80 | FST – FAST ACQ CP (Announced)
0.98% ~ $ 10.33 | ACKIT – ACKRELL SPAC Partners I Co. (Pre-Deal)
0.94% ~ $ 9.70 | ARTA – Artisan Acquisition Corp. (Pre-Deal)
0.93% ~ $ 9.79 | GHAC – Gaming & Hospitality Acquisition Corp. (Pre-agreement)

The biggest losers

-3.86% ~ $ 10.95 | THCB – Tuscan Holdings Corp. (Ad)
-3.50% ~ $ 23.43 | CCIV – Churchill Capital Corp IV (Announced)
-2.71% ~ $ 9.71 | FTCPA – FTAC Parnassus Acquisition Corp. (Pre-Deal)
-1.50% ~ $ 9.84 | GSEV – Gores Holdings VII (Pre-Deal)
-1.48% ~ $ 10.00 | HLXA – HELIX ACQUISITION CORP (Pre-Deal)
-1.31% ~ $ 9.78 | HIII – Hudson Executive Investment Corp. III (Pre-Deal)
-1.16% ~ $ 10.19 | CND – Concord Acquisition Corp (Announced)
-1.11% ~ $ 9.84 | FORE – Foresight Acquisition Corp. (Ad)
-1.10% ~ $ 9.87 | LSAQ – VIE SCI ACQ II (Announced)
-0.96% ~ $ 10.33 | SRAC – Stable Road Acquisition Corp. (Ad)
-0.92% ~ $ 9.74 | NAAC – North Atlantic Acquisition Corporation (pre-transaction)
-0.90% ~ $ 9.86 | EDTX – EdtechX Holdings Acquisition Corp II (Pre-Deal)
-0.89% ~ $ 9.75 | SPAC – Post Holdings Partnering Corporation (pre-transaction)
-0.87% ~ $ 10.26 | GSAH – GS Acquisition Holdings Corp II (Announced)
-0.82% ~ $ 9.62 | MIT – Mason Industrial Technology, Inc. (Pre-Agreement)
-0.72% ~ $ 9.70 | AEAC – Authentic Equity Acquisition Corp. (Before the transaction)
-0.71% ~ $ 9.78 | LHAA – Lerer Hippeau Acquisition Corp (Pre-Deal)
-0.71% ~ $ 9.79 | TSIB – Tishman Speyer Innovation Corp. II (Pre-agreement)
-0.71% ~ $ 9.81 | NOAC – Natural Order Acquisition Corp (Pre-Deal)
-0.71% ~ $ 9.85 | DGNS – DRAGONEER GR OP (Pre-Deal)

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(Disclaimers: This is not investment advice. The author can go on and on about one or more of the actions mentioned in this report.)