A Slow, Painful Week for Most SPAC Investors
A light week for SPAC M&A and the new issue market has hit saturation. Pre-Deal SPACs will soon feel the pressure to start finding targets.
Author:
Apr 23, 2021
While 3 deals ultimately announced this week (HZAC, FWAA, and DBDR) it was still a slow week compared to peak SPAC merger frenzy. This week s deals provided modest pops - despite what has (mostly) been a rollercoaster overall week for risk assets. On a happy note, SPACs finished Friday largely up, for the first time in what feels like years.
Overall, the week was one where the mood felt increasingly dark with the media only adding to it with little positive to say.
Tech Moves: Adaptive Biotech co-founders join life sciences SPAC; new edtech execs; and more
April 15, 2021 at 4:44 pm
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Chad Robins, left, is co-founder and CEO of Adaptive Biotechnologies, which he co-founded with his brother, Harlan Robins, right, a theoretical physicist turned computational biologist who is the company’s chief scientific officer. (Adaptive Biotechnologies Photo) Adaptive Biotechnologies co-founders and brothers Chad and Harlan Robins are among the directors of a new life sciences SPAC.
The blank check company is called CM Life Sciences III Inc. and listed on the NASDAQ starting April 7. The SPAC is targeting companies in “three separate areas of the life sciences industry that are often fragmented life sciences tools, synthetic biology and diagnostics.”
The SEC is zeroing in on SPACS. Altimeter (AGC) is taking Grab public in a record breaking $40b dollar SPAC merger. SPACs with announced deals took it on the chin yesterday.
SPAC Wrap: Investors Should be Happy with a Merger-less Monday; Announced Deals Take a Hit
Merger-less Monday was a bit of a surprise today, but given SPACs with announced deals took a hit, that s probably a good thing. Look for activity to pick up as the week progresses though.
Author:
Apr 12, 2021
Even given the otherwise sideways day in the markets (S&P up, DJIA down, Nasdaq 100 down), some investors will be a bit disappointed in the SPAC activity. No deals were announced, SPAC IPOs stayed on the sidelines, and we saw only two prospective new SPACs file S-1s.
Those invested in SPACs with announced deals took a hit today though. The majority of units and common shares were down, with some down significantly (e.g. PSAC / Faraday; see full list below). Investors will need to be careful about deciding when to get in and out of SPACs once the deal is announced. While there have been some good post-deal pops on great execution (e.g. DMYD and MUDS w/ its NFT play announced today),