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),
SPAC Wrap: RICE stock takes off, TWCT is muted on Deal Announcements. IPOs Take a Rest Day
RICE surged over 50% on its Renewable Gas M&A deal, while True Wind Capital s deal with Cellebrite was greeted with a much more muted reaction from the market
Author:
Apr 8, 2021
While M&A pops had returned a bit, it s been awhile since we ve seen a massive rally on a SPAC name after announcing an M&A deal, which is exactly what happened today with
Rice Acquisition Corp (RICE) up 52%. Rice is
combining Aria Energy and Archaea Energy and taking them public in a $1.15 billion merger. That will make the combined company into a leading renewable natural gas platform.
Coherent, Inc. (NASDAQ: COHR)
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of
Coherent, Inc. (NASDAQ: COHR) in connection with the proposed acquisition of the company by II-VI Incorporated ( II-VI ). Under the terms of the merger agreement, COHR shareholders will receive $220.00 in cash and 0.91 shares of II-VI common stock for each COHR share that they own, representing implied per-share merger consideration of approximately $288.68 based upon II-VI s April 6, 2021 closing price of $75.47. If you own COHR shares and wish to discuss this investigation or your rights, please call or visit our website: http://www.weisslawllp.com/cohr/
/PRNewswire/ WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Rodgers Silicon.