Shopping Cart

Underwriting-League-Tables

Q-2 & 1st Half 2019 SPAC IPO Underwriting League Tables

Jun 30, 2019 INTEL, Underwriting League by Kristi Marvin

Below are the recently released Q-2 & 1st Half 2019 SPAC IPO Underwriting League Tables

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

Legal-League-Tables

Q-2 & 1st Half 2019 SPAC IPO Legal League Tables

Jun 30, 2019 INTEL, Legal League by Kristi Marvin

Below are the recently released Q-2 & First Half 2019 SPAC IPO Legal League Tables

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

happy hour

Friday Happy Hour Update: Two New SPACs + BRAC

Jun 28, 2019 INTEL by Kristi Marvin

And one of the new SPACs has a 1/4 warrant… this is BIG news.

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.

new-spac

Orisun Acquisition Corp. Files for $40M SPAC IPO

Jun 28, 2019 INTEL by Kristi Marvin

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.

Underwriters-League-winner

Winner of the 2019 SPACInsider Underwriters League Tournament

Jun 27, 2019 INTEL by Kristi Marvin

Congratulations to BofA Merrill Lynch!

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.

Winners-Cup

2019 FINALS: Underwriters League Tournament Championship Round!

Jun 26, 2019 INTEL by Kristi Marvin

FINALS: GET YOUR VOTES IN!!

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).

IPO

Churchill Capital Corp. II Prices $600M IPO

Jun 26, 2019 INTEL by Kristi Marvin

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.

Black-Ridge-Acquisition-Corp

Black Ridge Acquisition Corp. Gets Another $5M Backstop

Jun 26, 2019 INTEL by Kristi Marvin

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.

spac ipos

Churchill II Supersizes Their SPAC

Jun 26, 2019 INTEL by Kristi Marvin

Increases Deal Size to $600 Million.

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.

Underwriters-League-Final-Four

2019 UWs Tournament: Final Four Update

Jun 26, 2019 INTEL by Kristi Marvin

THE FINAL FOUR!

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!

Underwriters-League-Final-Four

2019 UWs League Tournament: The Final Four!

Jun 26, 2019 INTEL by Kristi Marvin

THE FINAL FOUR!

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.

Pensare (WRLS) Announces Intent to Extend to December 1st

Jun 25, 2019 INTEL by Kristi Marvin

With No Additional Contribution to Trust…

Pensare Aquisition Corp. (WRLS) announced this afternoon, via a new proxy, that they are proposing to further extend their deadline to December 1, 2019.

Underwriters-League-Elite-8

2019 UWs League Tournament Mid-day Update:

Jun 25, 2019 INTEL by Kristi Marvin

The Elite Eight Matches

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.

Warrant backstop

Let’s Talk About SC Health’s Warrant Backstop

Jun 25, 2019 INTEL by Kristi Marvin

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.

IPO Ahead

Churchill Capital Corp. II Pricing Their $400 Million SPAC Thursday

Jun 25, 2019 INTEL by Kristi Marvin

Churchill Capital Corp. II (CCX.U), which filed a new S-1/A this morning, is expected to price their $400 million SPAC Thursday evening, for trading Friday, June 28th. Michael Klein, will once again be leading as Chairman of the Board of Directors along with his deep bench of “Operating Partners“.

Underwriters-League-Elite-8

2019 Underwriters League Tournament – We’re Down to the Elite 8!

Jun 24, 2019 INTEL by Kristi Marvin

It’s actually the “Nimble Nine”. We had an unanticipated TIE!

There aren’t any really good, descriptive “N” words and “nice” seems…wrong. “Nimble” will have to do unless anyone has a better suggestion.

Underwriters-League-SPAC-Sixteen

2019 Underwriters Tournament Update: We Might Have Some Upsets…

Jun 24, 2019 INTEL by Kristi Marvin

Tournament Update of the SPAC Sixteen Matches

We currently have no less than three matches that are evenly tied! As expected, the match up between BofA and Jefferies has been back and forth all morning and is now back at dead even.

News Alert: NRC Group (Hennessy III) Announces Merger for $12.00/share

Jun 24, 2019 INTEL by Kristi Marvin

US Ecology and NRC Group Agree to Merge

NRC Group (NRCG), formerly Hennessy Capital Acquisition Corp. III, which was Daniel Hennessy’s third SPAC, announced this morning that it has entered into a definitive merger agreement with US Ecology, Inc.

Winners-Cup

2nd Annual 2019 SPACInsider Underwriters League Tournament is Open!

Jun 23, 2019 INTEL by Kristi Marvin

VOTE FOR YOUR UNDERWRITERS!

In light of the forthcoming second quarter and first half of 2019 league tables being published next week, SPACInsider is once again holding the Underwriter’s League Tournament!

new-spac

SC Health Corporation Files for a $150M IPO

Jun 21, 2019 INTEL by Kristi Marvin

This afternoon, we had another new SPAC filing. This latest one is the $150 million SC Health Corporation (SCH.U), and will be led by David Sin, as Chairman, and AJ Coloma, as CEO and Director nominee.

Archives