Alpha Tau debuts tomorrow, BTNB/PropertyGuru on tap

Alpha-radiation cancer therapy company Alpha Tau trades tomorrow, BTNB/PropertyGuru up next. And all the day's news in SPACs.

Author:
Joanna Makris
Publish date:
Mar 7, 2022 6:11 PM EST

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BTNB expected Property Guru close 3/17, trading 3/18

Bridgetown 2 Holdings Ltd. (BTNB) announced a March 17th closing date for its merger with Property Guru Pte. Ltd., a PropTech company that resembles the Zillow (Z) of Southeast Asia. BTNB is backed by backed by billionaires Richard Li and Peter Thiel. The deal included a $100 million PIPE.

ALAC gets extension on SolarMax merger

Alberton Acquisition Corporation (ALAC) receives further Nasdaq extension to complete its merger with solar panel provider SolarMax Technology, Inc.

HCCC closes merger with Alpha Tau. Trades tomorrow as DRTS

After an adjourned vote in mid-February, Healthcare Capital Corp. (HCCC) closed its merger with alpha-radiation cancer therapy maker Alpha Tau Medical. Shares will trade as DRTS tomorrow. Alpha Tau has raised "approximately $90 million in gross cash proceeds."

GGPI: Board Update at Polestar

Electric Vehicle (EV) maker Polestar, which is expected to merge with SPAC sponsor Gores Guggenheim Inc. (GGPI), announced some updates to the Board of Directors at Polestar:

Polestar CEO Thomas Ingenlath expected to be appointed to the Board as executive director
Volvo Cars’ new CEO (from March 21) Jim Rowan along with Karen Francis and David Wei expected to be appointed to the Board as new directors ahead of Polestar’s planned listing
Håkan Samuelsson, Chairperson of the Board, Daniel Li, CEO of Geely Holding, Carla De Geyseleer, David Richter and Karl-Thomas Neumann will continue as board members of Polestar upon planned listing

For more details on Polestar's strategy, check out our recent podcast with CEO Thomas Ingenlath.

Two deal cancellations

FoxWayne Enterprises Acquisition Corp. (FOXW) called off its merger with Aerami Therapeutics Holdings, Inc., a biopharmaceutical company focused on developing inhaled therapies to treat severe respiratory and chronic diseases. FoxWayne has until April 22, 2022 to complete a combination.

Pine Technology (PTOC) called off its merger with weather-predicting software maker Tomorrow.io. The SPAC cites "market conditions" as the culprit. PTOC will keep looking for a deal; the SPAC has until March 15, 2023 to complete a merger.

These mark the 9th and 10th cancelled SPAC mergers of 2022.

Elsewhere in SPACs

This week's votes:

CF Acquisition Corp. (CFFE): extension
Spartan Acquisition Corp. III (SPAQ) / Allego
MedTech Acquisition Corp. (MTAC) / Memic Innovative

Gallery

1 Images

Today's Price Action

Biggest Gainers

4.45% ~ $ 10.46 | GACQ - Global Consumer Acquisition Corp. (Announced)
.93% ~ $ 9.80 | TCOA - Trajectory Alpha Acquisition Corp. (Pre-Deal)
.91% ~ $ 9.93 | XFIN - ExcelFin Acquisition Corp. (Pre-Deal)
.61% ~ $ 9.89 | ITHX - ITHAX Acquisition Corp. (Announced)
.61% ~ $ 9.90 | POND - Angel Pond Holdings Corp (Announced)
.60% ~ $ 10.05 | DTRT - DTRT Health Acquisition Corp. (Pre-Deal)
.56% ~ $ 9.92 | BRPM - B. Riley Principal 150 Merger Corp. (Announced)
.51% ~ $ 9.76 | SEDA - SDCL EDGE Acquisition Corp (Pre-Deal)
.51% ~ $ 9.91 | ARTE - Artemis Strategic Investment Corporation (Pre-Deal)
.38% ~ $ 9.94 | CXAC - C5 Acquisition Corp (Pre-Deal)
.31% ~ $ 9.89 | EVE - EVe Mobility Acquisition Corp (Pre-Deal)
.31% ~ $ 9.68 | NFYS - Enphys Acquisition Corp. (Pre-Deal)
.31% ~ $ 9.74 | FRXB - Forest Road Acquisition Corp. II (Pre-Deal)
.31% ~ $ 9.78 | ASAX - Astrea Acquisition Corp. (Pre-Deal)
.31% ~ $ 9.79 | CSTA - Constellation Acquisition Corp I (Pre-Deal)
.31% ~ $ 9.82 | BHAC - Crixus BH3 Acquisition Corp. (Pre-Deal)
.31% ~ $ 9.83 | ZING - FTAC Zeus Acquisition Corp. (Pre-Deal)
.30% ~ $ 9.87 | CHWA - CHW Acquisition Corp (Announced)
.30% ~ $ 9.87 | SPAQ - Spartan Acquisition Corp. III (Announced)
.30% ~ $ 9.93 | HTPA - Highland Transcend Partners I Corp (Announced)

Biggest Losers

-14.56% ~ $ 83.34 | DWAC - Digital World Acquisition Corp. (Announced)
-8.33% ~ $ 11.34 | CFVI - CF Acquisition Corp. VI (Announced)
-2.21% ~ $ 9.75 | KYCH - Keyarch Acquisition Corp (Pre-Deal)
-1.52% ~ $ 9.72 | PTOC - Pine Technology Acquisition Corp. (Pre-Deal)
-.99% ~ $ 10.05 | MEKA - MELI Kaszek Pioneer Corp (Pre-Deal)
-.90% ~ $ 9.91 | ITAQ - Industrial Tech Acquisitions II, Inc. (Pre-Deal)
-.79% ~ $ 10.10 | IPOF - Social Capital Hedosophia Holdings Corp VI (Pre-Deal)
-.70% ~ $ 9.89 | SPK - SPK Acquisition Corp. (Announced)
-.61% ~ $ 9.77 | SPKB - Silver Spike Acquisition Corp II (Announced)
-.61% ~ $ 9.80 | CPAA - Conyers Park III Acquisition Corp. (Pre-Deal)
-.61% ~ $ 9.83 | BNNR - Banner Acquisition Corp. (Pre-Deal)
-.54% ~ $ 11.04 | GGPI - Gores Guggenheim, Inc (Announced)
-.52% ~ $ 9.62 | SCRM - Screaming Eagle Acquisition Corp. (Pre-Deal)
-.50% ~ $ 9.91 | GIIX - GORES HOLDINGS VIII, INC. (Announced)
-.50% ~ $ 9.91 | LION - Lionheart III CORP (Pre-Deal)
-.50% ~ $ 9.93 | PAFO - Pacifico Acquisition Corp. (Announced)
-.49% ~ $ 10.18 | HUGS - USHG Acquisition Corp. (Announced)
-.45% ~ $ 9.63 | TWCB - Bilander Acquisition Corp. (Pre-Deal)
-.43% ~ $ 9.34 | MTAC - MedTech Acquisition Corporation (Announced)
-.41% ~ $ 9.78 | ARYD - ARYA Sciences Acquisition Corp IV (Pre-Deal)