Were Hedge Funds Right About Piling Into Timkensteel Corp (TMST)? insidermonkey.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insidermonkey.com Daily Mail and Mail on Sunday newspapers.
Chamath Files 4 New Biotech SPACs
Today s SPAC highlight came post market as Chamath dropped four new SPAC S-1s for $800M total. JWS vote passes, with TSIA and JIH set to vote tomorrow.
Author:
In another win on Day-1 of new De-SPAC ticker trading,
BARK, which just closed its merger with Northern Star Acquisition Co. (STIC) rose nearly 7%. One more example of a recent De-SPAC that has traded up shortly after, following SOFI early this week and others last month. Investors will be sure to watch this price action for future De-SPACs, and, with over 20 this month there are plenty to keep an eye out for (list below).
June will be a busy month of SPAC deal votes and, likely, little other activity. But, could the narrative change if de-SPAC performance outperforms expectations?
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.