SPAC Merger Calendar: Upcoming Votes

WeWork, Redbox, NextNav, Bakkt, and Algoma Steel are among the companies scheduled to merge with a SPAC this month.
Vincent RyanOctober 4, 2021

The month of October marks a slowdown in SPAC merger deal votes, but the calendar does include several multibillion-dollar deals.

SPAC merger votes can act as a catalyst, as it completes the last step in the merger process and also changes the company over to a new name and ticker that can help build recognition.

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Several former SPACs have also seen wide swings in share prices after being de-SPACed if they receive heavy redemptions and have a low float for shares available.

Here is a look at the current October SPAC merger vote dates:

Oct. 4: LifeSci Acquisition II and Science37

Life sciences company Science37 is merging in a deal valuing the company at over $1 billion in a move that will help it fund its trials and extend into new areas.

Oct. 5: Industrial Tech Acquisitions and Arbe Robotics

4D imaging radar technology company Arbe Robotics expects fiscal 2021 revenue of $7.8 million and fiscal 2022 revenue of $13 million.

Oct. 5: ACON S2 Acquisition and ESS Tech

Long-range battery company ESS Tech is valued at $1.1 billion in a SPAC merger. The company’s batteries are engineered to support renewables and stabilize the electrical grid.

The BowX deal would provide WeWork with a $1.3 billion cash infusion.

Oct. 12: Live Oak Acquisition and Navitas Semiconductor

With a proprietary semiconductor technology, Navitas says it can deliver three times faster charging in half the size and weight of legacy silicon chips. Over 18 million GaNFast power integrated circuits have been shipped to key customers by Navitas.

Oct. 13: Marquee Raine Acquisition and Enjoy Technology

Enjoy is a retail partner that counts AT&T and Apple among its key partners. Enjoy offers mobile stores that bring engagement to customers beyond a typical e-commerce platform. MRAC is led by Ron Johnson, who previously led Apple’s retail stores and held roles with JCPenney and Target.

Oct. 14: VPC Impact Acquisition and Bakkt

Cryptocurrency exchange Bakkt launched the first regulated Bitcoin (CRYPTO: BTC) futures exchange and launched a fully regulated options contract for Bitcoin. The new company will be 65% owned by Intercontinental Exchange. Shares of VPC Impact Acquisitions traded over $20 in February.

Oct. 14: Horizon Acquisition and Vivid Seats

Competing in the $39 billion ticket space, Vivid Seats supports over 12 million customers and has over 200,000 listed events. The company sold over 17 million tickets annually prior to the COVID-19 pandemic.

Oct.14: Legato Merger and Algoma Steel

Founded in 1902, Algoma Steel is a manufacturer of hot and cold steel products. The company produces an estimated 2.8 million tons of steel per year and is a key supplier to customers in Canada and the Midwest region of the United States.

Oct. 19: BowX Acquisition and WeWork

Flexible office space company WeWork is serving the multi-trillion-dollar office space segment. The company counts enterprise companies as over 50% of its memberships and has seen a rise in contracts longer than 12 months. WeWork had 851 locations in 152 cities in 2020 and revenue of $3.2 billion, excluding China.

Oct. 19: GS Acquisition Holdings II and Mirion Technologies

A leader in radiation hardware, software, and alignment for hospitals, urgent care clinics, dental offices, veterinary offices, and nuclear power plants, Mirion Technologies has been around for over 50 years. The company is a leader in several segments including a market-share leading position in 14 of 17 operating categories.

Oct. 20: Seaport Global Acquisition and Redbox

Movie rental company Redbox is the largest DVD rental kiosk company with over 40,000 kiosks and 150 retail partners. The company has 39 million loyalty members and an email database of 46 million customers. Plans for the company include a continued push into streaming.

Oct. 20: Alkuri Global Acquisition and Babylon

Telehealth company Babylon provides video medical appointments and artificial intelligence-powered diagnoses. The company has partners with hospitals and covers over 24 million patients worldwide.

Oct. 20: Big Cypress Acquisition and SAB Biotherapeutics

SAB is a clinical-stage biopharmaceutical company focusing on a new class of immunotherapies targeting infectious diseases like COVID-19 and influenza.

Oct. 20: Spartacus Acquisition and NextNav

NextNav helps companies with location mapping working in the GPS sector. The company counts AT&T, Motorola Mobility, and Epic Games as some of its blue-chip customers.

This story originally appeared on Benzinga. © 2021 Benzinga.com.

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