Valuence Merger I, the newest SPAC debuts. A deal announcement, and blowout numbers from SoFi.

Valuence Merger (VMCAU) debuts with a sustainability/life sciences focus. SOFI reports blowout earnings. And all the day's news in SPACs.

Author:
Joanna Makris
Publish date:
Mar 1, 2022 6:06 PM EST

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Valuence Merger Debuts

Valuence Merger I (VMCAU), a SPAC targeting life sciences and sustainability, raised $200 million today in its IPO. The company is led by CEO Sung Yoon Woo, founder and CEO of South Korean private equity firm Credian Partners. He is joined by CFO and Director Andrew Hyung (ex-Nomura Greentech), President Sung Lee (ex-Global Development Group of SK), and COO Gene Cho (Executive Director of CG Pharmaceuticals).

The SPAC plans to target a life sciences or sustainable technology firm in Asia (excluding China, Hong Kong and Macau). The company expects to collaborate with VC firm CrystalBioSciences, Korean PE firm Credian Partners, and Japanese consulting firm Quantum Leaps.

Elsewhere in SPACs

Symbotic reported earnings. Walmart-backed (WMT) Robotics and AI provider Symbotic LLC reported 1Q F2022 earnings. Symbiotic is expected to deSPAC from SVF Investment Corp. 3 (SVFC), an affiliate of SoftBank Investment Advisers. The company reported 1Q F2022 revenues of $77.1 million, adjusted EBITDA of $(21.3) million and a quarterly net income of $(23.1) million. The company boasted a $5.3 billion backlog, up from $5 billion back in December. SVFC filed an S-4 on February 4, 2022, which includes a preliminary proxy statement and prospectus.

Pacifico Acquisition (PAFO) signs a merger agreement with Caravelle. Merger announcements have been in short supply lately. But PAFO signed a letter of intent with Singapore-based, carbon-neutral shipping company Caravelle. Pacifico has about $57.5 million in trust and plans to supplement the transaction with a PIPE (hopefully). Few details, as there is no filing yet.

SoFi Technologies (SOFI) is hot hot hot. We liked SOFI going into the print, and sure enough, the fintech didn't let us down. Proving that deSPACs can outperform the market, SOFI reported impressive Q4 results, raising guidance. Stock is trading up 20% after hours.

Today's Price Action

Biggest Gainers

3.33% ~ $ 10.24 | SNII - Supernova Partners Acquisition Company II, Ltd. (Announced)
3.31% ~ $ 95.10 | DWAC - Digital World Acquisition Corp. (Announced)
1.45% ~ $ 9.80 | PSPC - Post Holdings Partnering Corporation (Pre-Deal)
.93% ~ $ 9.80 | TCOA - Trajectory Alpha Acquisition Corp. (Pre-Deal)
.91% ~ $ 9.89 | CITE - Cartica Acquisition Corp (Pre-Deal)
.82% ~ $ 9.85 | NFNT - Infinite Acquisition Corp. (Pre-Deal)
.82% ~ $ 9.87 | GLTA - Galata Acquisition Corp (Pre-Deal)
.81% ~ $ 9.91 | AEAE - AltEnergy Acquisition Corp (Pre-Deal)
.71% ~ $ 9.91 | CBRG - Chain Bridge I (Pre-Deal)
.71% ~ $ 9.96 | BMAC - Black Mountain Acquisition Corp. (Pre-Deal)
.71% ~ $ 9.96 | LVAC - LAVA Medtech Acquisition Corp. (Pre-Deal)
.62% ~ $ 9.81 | SWSS - Springwater Special Situations Corp. (Pre-Deal)
.61% ~ $ 9.84 | ROCL - Roth CH Acquisition V Co. (Pre-Deal)
.61% ~ $ 9.89 | BPAC - Bullpen Parlay Acquisition Co (Pre-Deal)
.61% ~ $ 9.91 | FIAC - Focus Impact Acquisition Corp. (Pre-Deal)
.61% ~ $ 9.91 | TGVC - TG Venture Acquisition Corp. (Pre-Deal)
.61% ~ $ 9.96 | AFAC - Arena Fortify Acquisition Corp. (Pre-Deal)
.57% ~ $ 9.76 | LHAA - Lerer Hippeau Acquisition Corp (Pre-Deal)
.52% ~ $ 9.69 | EGGF - EG Acquisition Corp. (Pre-Deal)
.52% ~ $ 9.69 | CLBR - Colombier Acquisition Corp. (Pre-Deal)

Biggest Losers

-3.96% ~ $ 11.88 | CFVI - CF Acquisition Corp. VI (Announced)
-1.81% ~ $ 10.86 | GGPI - Gores Guggenheim, Inc (Announced)
-.91% ~ $ 9.77 | SAMA - Schultze Special Purpose Acquisition Corp. II (Pre-Deal)
-.83% ~ $ 9.60 | BWC - Blue Whale Acquisition Corp I (Pre-Deal)
-.80% ~ $ 9.98 | CXAC - C5 Acquisition Corp (Pre-Deal)
-.72% ~ $ 9.66 | HCNE - Jaws Hurricane Acquisition Corporation (Pre-Deal)
-.61% ~ $ 9.82 | NAAC - North Atlantic Acquisition Corporation (Announced)
-.55% ~ $ 9.93 | OPA - Magnum Opus Acquisition Limited (Announced)
-.52% ~ $ 9.62 | BLEU - bleuacacia ltd (Pre-Deal)
-.51% ~ $ 9.76 | WPCB - Warburg Pincus Capital Corporation I—B (Pre-Deal)
-.51% ~ $ 9.80 | ITHX - ITHAX Acquisition Corp. (Announced)
-.51% ~ $ 9.84 | FHLT - Future Health ESG Corp. (Pre-Deal)
-.51% ~ $ 9.85 | CFFS - CF Acquisition Corp. VII (Pre-Deal)
-.50% ~ $ 10.04 | MEKA - MELI Kaszek Pioneer Corp (Pre-Deal)
-.50% ~ $ 10.04 | REVE - Alpine Acquisition Corp. (Pre-Deal)
-.42% ~ $ 9.59 | HCVI - Hennessy Capital Investment Corp. VI (Pre-Deal)
-.41% ~ $ 9.63 | FICV - Frontier Investment Corp (Pre-Deal)
-.41% ~ $ 9.67 | LITT - Logistics Innovation Technologies Corp. (Pre-Deal)
-.41% ~ $ 9.68 | GFOR - Graf Acquisition Corp. IV (Pre-Deal)
-.41% ~ $ 9.70 | IACC - ION Acquisition Corp 3 Ltd. (Pre-Deal)