Energy, Space De-SPACs See Gains in Day 4 of Gaza War
by Nicholas Alan Clayton on 2023-10-10 at 2:41pm

Relative positivity has continued into a second straight day this week as the market leans perhaps more into encouraging signs around the future of interest rates than the prospect of renewed conflict in the Middle East.

Those jitters nonetheless appear to have propelled de-SPACs in the oil and gas sector to a good day despite the fact that oil prices themselves remain largely unchanged.

Oil & gas has generally been fruitful for SPACs in general with 19 such deals completed since December 2012. Of this group, three either last closed or were earlier acquired for more than $20 per share and four more continue to trade in the teens.

Sitio Royalites (NYSE:STR), which combined with Osprey Energy in 2018 is up +1.2% on the day to about $23.86 while TPG Pace Energy‘s target Magnolia Oil & Gas (NYSE:MGY) was similarly up about +1% to $22.71 as of this writing.

Satellite companies that got to market via SPAC deals have seen even bigger bumps today. With much of their revenue coming from the defense sector and conflict-researchers, the market appears to see them as having new work in the pipeline.

BlackSky (NYSE:BKSY) is on a +18% run two years out from completing its combination with Osprey Technology, while Israeli satellite operator Satixfy (NYSE:SATX) is recovering +27.7% after taking a hit yesterday in the market’s initial reaction to the new Gaza violence

Peer space de-SPACs Terran Orbital (NYSE:LLAP), Rocket Lab (NASDAQ:RKLB) are each up about +5%, while AST SpaceMobile (NASDAQ:ASTS) has seen a +7.7% boost in the early afternoon and Planet Labs (NYSE:PL) is up +1.7%.

The outlier in the group that has not been taken on a similar ride is Satellogic (NASDAQ:SATL) which is down -2.7% so far today.

Overall, these companies, given their early and in some cases pre-profitability nature, have not been graced with the same enthusiasm as oil and gas de-SPACs overall, however, and they all collectively last closed at a median share price of $0.78, adjusted for stock splits.

 

Energy, Space De-SPACs See Gains in Day 4 of Gaza War
Recent Posts
by Nicholas Alan Clayton on 2025-07-14 at 12:51pm

Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...

by Nicholas Alan Clayton on 2025-07-14 at 11:13am

Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...

by Kristi Marvin on 2025-07-14 at 9:19am

This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...

by Nicholas Alan Clayton on 2025-07-14 at 8:30am

At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...

by Kristi Marvin on 2025-07-12 at 10:02am

Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved