SPACs Close Down Again on a Sleepy Friday SPACs closed down on the day again, with the average pre-deal SPAC trading at $9.80. No new deals today, with just 4 announced on the week. Author: ** It's definitely been a sad May for SPACS with little good news to get investors excited. That being said, we continue to reiterate our view that the slowdown is positive for the longterm health of the broader SPAC market. Little activity today with no new mergers getting announced, and just one new IPO traded with Graf Acquisition Corp. closing down 0.7%. SPACs slid lower, once again, and the average pre-deal SPAC is now trading at $9.80 -- a steep discount to NAV.