DFB Healthcare Acquisition Corp. (DFBH), announced this morning that they have entered into a definitive business combination agreement with AdaptHealth Holdings, LLC (“Adapt”), the third largest distributor of home medical equipment (“HME”) in the United States. ...READ MORE
(The below article was previously released in Monday’s SPACInsider Newsletter)
As many of you know by now, last Friday evening saw Conyers Park II Acquisition Corp. ...READ MORE
Ahhh, the sage wisdom of DJ Jazzy Jeff and the Fresh Prince.
Is anyone still left in the office today? The day before a holiday is typically pretty slow, but today feels like we’re crawling through molasses just trying to make it to 1:00 PM. ...READ MORE
Last night, we finally got a glimpse of the previously announced Switchback Energy Acquisition Corp. (SBE.U). Switchback filed as a $300 million North American energy SPAC and will be sponsored by NGP Energy Capital Management. ...READ MORE
Friday evening, we had another new SPAC filing in the form of the $175 million Oaktree Acquisition Corp. Actually, we had three new SPACs on Friday, but let’s focus on this one. ...READ MORE
Methodology:
In addition to the traditional methodology used whereby any bookrunner or lead manager gets full credit for IPO size to calculate deal volume, there are two additional rankings - volume by number of units sold and volume sold % market share (highlighted in green). For example, if SPAC-XYZ raised $500 million at IPO, and underwriter A sold $400 million of the same deal and underwriter B sold only $100 million, that’s how they will be credited. This methodology gives a more accurate window into the actual deal volume.
Read More
The legal league tables had a few surprises in the second quarter. Notably, Winston & Strawn climbed to #1 based on total deal volume with $1.46 billion in legal assignments. To put that into context, Winston & Strawn sat out the first quarter having not participated in any SPACs, but came on strong in Q-2 to land the top spot. Overall, three of Winston's legal assignments were as Issuer's Counsel and one was as Underwriter's Counsel, with a total average deal size of $365 million.
Read More
In the interest of it being the happiest of hours…a brief summary has been provided below. A more thoughtful analysis will be provided later. ...READ MORE
We had yet another new SPAC filing on Wednesday evening, with the addition of Orisun Acquisition Corp. (ORSNU), a $40 million SPAC IPO focused on what the team is calling the “High Tech” sector. ...READ MORE
BAML is the 2019 SPACInsider Underwriters League Tournament Champion!
As winner, BAML will be receiving the SPACInsider Underwriters League Champion Award, sponsored by Refresh Creations.
(Below is a picture of last year’s award. ...READ MORE
After some HEAVY voting last night (and I mean, HEAVY), BofA Merrill Lynch and BTIG won their battles to move into the final round. (Seriously, twice the amount of votes as Round Two). ...READ MORE
Churchill Capital Corp. II (CCX.U), announced the pricing of their upsized $600 million SPAC IPO this evening. Churchill II’s units are expected to begin trading tomorrow, June 27th, under the symbol NYSE: CCX.U. ...READ MORE
This afternoon, Black Ridge Acquisition Corp. (BRAC), announced that they have entered into a Letter Agreement for another $5 million backstop in addition to their previous $5 million backstop with TV Azteca. ...READ MORE
Churchill Capital Corp. II, filed an amended prospectus this afternoon, increasing their deal size to $600 million. Demand has been BIG for this deal, so an upsize this large is completely do-able. ...READ MORE
It’s only 12:30PM, but voting was heavy this morning and BofA and Stifel came out strong. However, both matches are now neck and neck with Deutsche Bank and BTIG fighting their way back into contention! ...READ MORE
It was another close day yesterday with Deutsche Bank and Citigroup battling it out all evening, but Deutsche Bank slowly climbed back after a slow start and managed to pull out a last minute victory again with a 51% to 49% win. ...READ MORE
Pensare Aquisition Corp. (WRLS) announced this afternoon, via a new proxy, that they are proposing to further extend their deadline to December 1, 2019. ...READ MORE
Voting in all matches broke out fast this morning and we now have four clear leaders, but things can change very quickly, as we saw yesterday. Plus, keep in mind that its the total number of votes throughout the entire tournament that counts and as we’ve seen, players are getting strategic – only voting for one team or voting against other teams they might have to match-up against next round. ...READ MORE
Did anyone catch the term in SC Health’s new SPAC filing on Friday? If you didn’t, SC Health added an interesting twist for warrant holders. Essentially, this SPAC will be backstopping the warrants at $1.00 in the event of a liquidation. ...READ MORE