Morning Roundup: November 22, 2023
by Nicholas Alan Clayton on 2023-11-22 at 7:45am

At the SPAC of Dawn

So far, seven SPACs have announced their liquidations this week and although some others may choose to use the holiday to quietly disband, this tends to be a positive week for equities in general.

Going back to 1961, the S&P 500 has ended the Thanksgiving week with gains three-quarters of the time, according to Yahoo Finance data. That has included some some particularly big bounces in times lacking in cheer.

Over the 61-year sample, the biggest Thanksgiving surge came in the form of a +12% week in 2008 amidst the financial crisis.

The financial services sector itself has fared the worst during this time, but energy companies have consistently come out with gains on the week 74% of the time perhaps helped by the growing chills hitting Northern Hemisphere regions simultaneously.


News and Rumors

  • SpaceNews: Satellogic (NASDAQ:SATL) received its remote sensing NOAA license, which is key to its bid to move operations from Uruguay to the US, having closed its combination with CF V in January 2022.
  • TechCrunch: Luminar (NASDAQ:LAZR) founder and CEO Austin Russell’s bid to buy Forbes Global Media Holdings has been terminated the agreement after failure to secure investors. Forbes had planned to go public through a merger with Magnum Opus Acquisition Limited (NYSE:OPA), but called off the agreement in June 2022.
  • Digital Music News: Anghami (NASDAQ:ANGH), which completed its merger with Vistas Media in 2022, formally unveiled its plans to merge with OSN+, a division of the namesake Panther Media Group-owned OSN.
  • AOL: Donald Trump’s Truth Social platform has filed a lawsuit against 20 media organizations for making what it claims to be defamatory statements about the company’s financial losses. Truth Social announced its combination with Digital World (NASDAQ:DWAC) in 2021.
  • Bloomberg: Athena Capital, the firm founded by Isabelle Freidheim, is seeking to raise $500 million for an equity and debt capital fund. The fund led by Freidheim, a venture capitalist and chair of three SPACs, plans to invest in both private and public mission-driven companies,

Terminations and Liquidations

  • KnightSwan Acquisition Corporation (NYSE: KNSW) will redeem all of its outstanding shares of Class A common stock. As a result, the previously disclosed non-binding letter of intent has been terminated. The last day that the company’s securities will trade on the NYSE will be December 5 and the per-share redemption price for the public shares will be approximately $10.61.

Scheduling Notes

Recent Posts
by Nicholas Alan Clayton on 2025-05-05 at 8:10am

At the SPAC of Dawn Last week’s hot streak continues this week in the form of a high volume of votes for SPACs. Two are seeking approvals for their business combinations while six more aim to get the stamp on their extension votes. Investors will also have an eye on upcoming Fed comments on Wednesday...

by Kristi Marvin on 2025-05-03 at 10:02am

Terms Tracker for the Week Ending May 2, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. April wrapped with some real momentum. Over the course of the month, 19 SPACs filed new S-1s, while 12 IPOs priced. Furthermore, nine deal announcements...

by Nicholas Alan Clayton on 2025-05-02 at 3:21pm

ProCap Acquisition Corp. (NASDAQ:PCAPU) has filed for a $200 million SPAC to hunt for a fintech or financial services target. The new S-1 filing was BTIG’s second of the week after a two-month break, bringing its 2025 new SPAC filings to five and the bank has so far managed to IPO five SPACs as well....

by Nicholas Alan Clayton on 2025-05-02 at 12:09pm

MSM Frontier Capital Acquisition Corp. (NASDAQ:MSMUU) has filed for a $225 million SPAC to search for a infrastructure target in Africa. The new SPAC will head out on this expedition with a trust that is not overfunded and units that each contain one right to a 1/8 share. It will also have 24 months to...

by Nicholas Alan Clayton on 2025-05-02 at 8:25am

At the SPAC of Dawn This action-packed week in SPACs comes to an end with three more SPACs launching their IPOs, bringing it to nine on the week. And, the crypto strategy that SPACInsider noticed becoming increasingly popular among de-SPACs earlier this year has continued to gain steam. This week, edtech firm Classover (NASDAQ:KIDZ), fresh...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved