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The improving narrative is supported by stable, positive market dynamics. Don t be surprised to see retail and others getting back into SPACs if the market continues this way.
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.
Thursday s SPAC Opportunities: Is SPAC + Crypto Next? Another Good Deal Pop Shows a Healthier SPAC Market
It may start to feel boring for investors, but the SPAC market is getting healthy and that continues to provide opportunities for patient yield + optionality plays. BCTG had a good deal pop of almost 8%. VIH / Bakkt took a big hit (-12%) following the Coinbase IPO.
Author:
BCTG Acquisition Corp (BCTG) taking
Tango Therapeutics public in a $350M deal and then a rare late afternoon announcement from
Roth CH Acquisition II (ROCC) who is taking music company
Reservoir public in a $788M deal.
BCTG was well received popping 7.94% through the close and up another 1.65% in after hours trading.