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Two Big SPAC Deals (SRNG, AURC) After Monday s Mess
Monday was a painful day for SPAC investors with 75% of pre-deal SPACs dropping farther and 3 deals actually dropping on the news. Will today s deals from SRNG and AURC turn the tide?
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At the close yesterday the average pre-deal SPAC was at $9.87 even further from NAV than investors have seen in a long time. Even worse, the three morning deals all closed lower:
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LIV Capital (LIVK) -0.1% to $9.99
Today s two deal announcements are mega deals and could potentially turn the tide, but given the market s overall state and SPACs still being clogged, it will take a lot.
SPAC Wrap: New Deal Duds, and QuantumScape Slammed by Short Seller Report
DEH and CHFW drummed up little investor enthusiasm for their SPAC merger announcements. SPAC IPOs remain parked and SPACs generally traded lower on the day. QS sold off on short seller report.
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Apr 15, 2021
Two new deals were announced this morning, which felt like a lot of activity relative to what investors have become used to lately. However, neither of those deals, were met with much investor enthusiasm:
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down 0.3%, and remains below NAV at $9.85
Perhaps it was a little bit of a risk-off sentiment in the market as both of the SPAC targets, Vicarious Surgical + Surrozen, are speculative pre-revenue healthcare plays.