SPAC Market is Healthier Than Most Think 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.
Inflation News Hits SPACs, Pershing Square Tontine Surges
The 4% YoY CPI jump dominated market news and sent stocks and SPACs both sliding. Switchback s Bird deal flopped and Ackman boosted PSTH.
Author:
The two deals announced this morning were a mixed bag, though both are still trading at significant discounts to NAV, and certainly lacking punch:
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+2.17% to $9.89
It s very tough to announce a deal in such difficult market conditions, so perhaps we will see CENH trade above NAV as equity markets recover. On a really tough day overall for stocks following this morning s CPI print, SPACs were not immune to the selloff. Current pre-deal SPACs are
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?
Author:
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.
SPACs Hit Hard on Merger Monday
Four deals were announced, but performance was underwhelming. Given the overall market s bad day, it s no surprise 75% of pre-deal SPACs declined and now average $9.87.
Author:
Merger Monday returned with four new announced SPAC deals, but ultimately ended in a bit of a thud as all three SPAC stocks that announced this morning fell on the day. More broadly, 75% of Pre-Deal SPACs declined, closing at an
average of $9.87.
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LIV Capital (LIVK) -0.1% to $9.99
The deal selloffs came amid a broader market decline as well - so it s tough to attribute the lack of performance solely on deal conviction - yet most of newly announced deals have not been trading with much enthusiasm. However, as we ve been saying, given there are