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.
A Sad May for SPACs thestreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestreet.com Daily Mail and Mail on Sunday newspapers.
15 SPAC Mergers in 30 Days thestreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestreet.com Daily Mail and Mail on Sunday newspapers.
Remember SPACs? Market Focuses on Earnings
An expected quiet day in SPAC land, at least there was one deal announcement, as the market was undoubtedly more focused on big tech earnings.
Author:
Apr 27, 2021
Up and down day for stocks as the market was focused on mega-cap earnings reports due from the likes of MSFT, AMD, and GOOG. The tech heavy Nasdaq 100 dipped, while the S&P500 was relatively flat. Unsurprisingly, there was little mainstream attention towards SPACs today, although this morning did see a late deal announcement bringing the week s total to two. Expect deal flow to remain muted for the time being.