The improved SPAC narrative continues with June s deal votes going smoothly, CCIV getting a vote date, CCIV/Lucid setting a vote date, and the Russell 3k welcoming a number of de-SPACs to its ranks.
Following today s successful TSIA and JIH votes, GIX and DHFT are set to vote on their mergers tomorrow. Alkuri Acquisition is taking Babylon Health public.
SPAC IPOs Mixed, DCRN Deal Slightly Rises, IPOE/SoFi Up Next
IPOE fell ahead of its vote tomorrow, while DCRN rose slightly on its deal with Tritium. Of today s SPAC IPOs: 1 rose, and 2 fell.
Author:
This morning
Decarbonization Plus II (DCRN) announced a deal to take Tritium, an Australian EV charge company, public in a $1.4B SPAC deal. The deal has no PIPE and they currently have $403M in trust. The market was, somewhat, pleased with the deal as DCRN rose modestly +1.4%, though it still trades at a sizable discount to NAV at $9.79. This represents
a potential ~6% yield opportunity if you believe that the deal vote (when an investor could redeem its shares) happens within ~4-6 months.