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Morning Roundup: December 1, 2023

SPAC-morning-roundup

Morning Roundup: December 1, 2023

At the SPAC of Dawn

There had been hopes that this week would take one world conflict off the board, but combat has resumed in the Middle East as other eyes are likely to be fixed on new Fed comments today.

The fighting in Gaza continues to not appear to have appreciable affects on the numerous Israel-based de-SPACs, and in fact many of those most likely to be connected to the defense industry have continued their existing trends.

HUB Cybersecurity (NASDAQ:HUBC), which contracts with the Israel defense industry, enjoyed an uptick in October, but has been sliding since the end of that month despite expanding its services to the EU banking sector in the interim. It combined with Mount Rainier in February.

Closer to home, Federal Reserve Chair Jerome Powell is expected to speak at 11 am ET at Spelman College in remarks that will be combed by the market for signs of rate cuts on the horizon. There are a limited number of speaking engagements by Powell to signal such a move before the end of the year, which could tip the balance for many SPACs contemplating their futures heading into the end of the tax year.


Liquidations

  • M3-Brigade Acquisition II Corp. (NYSE: MBAC) will redeem all of its outstanding Class A common stock for $10.60 effective on or about December 13. The last day of trading of the public shares, units and warrants will be on or about December 8.

Scheduling Notes