Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<div><div><div><ul style="list-style-type: disc;"><li><p>It’s feast... August ended with 19 deal announcements, the most active month of deal activity this year.</p></li><li><p>Total deal value amounted to $9.1 billion, at an average of $481 million per transaction, which is the highest level since the average of $586 million in January 2023, if we were to exclude the $27 billion BSAQ/VinFast transaction anomaly announced in May and de-SPACing in August.</p></li><li><p>September has begun spritely, with four new IBC transactions announced in the first eight days, all of which were valued at below $400 million.</p></li></ul></div></div></div>

It’s feast... August ended with 19 deal announcements, the most active month of deal activity this year.Total deal value amounted to $9.1 billion, at an average of $481 million per transaction, which is the highest level since the average of $586 million in January 2023, if we were to exclude the $27 billion BSAQ/VinFast transaction anomaly announced in May and de-SPACing in August.September has begun spritely, with four new IBC transactions announced in the first eight days, all of which were valued at below $400 million.

SPAC Talk - Why Traditional IPOs Remain the Default Choice for Private Companies to Go Public

Independent Research, SPACs, SPAC Track

SPAC Track

Independent Research, SPACs

Equity Capital Markets

<ul><li>Archer fails to launch, Rumble’s $100M offer to lure Joe Rogan to its platform is rejected, 2 SPAC deals are terminated, and a 3rd quantum computing deal is announced</li><li>DPCM Capital, Inc. <em>(XPOA)</em> &amp; D-Wave (Valuation: $1.35B EV)</li><li>Atlantic Coastal Acquisition Corp. <em>(ACAH)</em> and Essentium mutually terminated their business combination and ACAH will search for another target</li></ul>

Archer fails to launch, Rumble’s $100M offer to lure Joe Rogan to its platform is rejected, 2 SPAC deals are terminated, and a 3rd quantum computing deal is announcedDPCM Capital, Inc. (XPOA) &amp; D-Wave (Valuation: $1.35B EV)Atlantic Coastal Acquisition Corp. (ACAH) and Essentium mutually terminated their business combination and ACAH will search for another target

Failed Shuttle Launches and Failed Overtures to Rogan & Tottenham

Atlantic Coastal Acquisition / Equity Capital Markets

<ul><li>Atlantic Coastal Acquisition Corporation (<em>ACAH: warrants +19.10%</em>) &amp; Essentium (Valuation: $974M EV)</li><li>Broadscale Acquisition Corp. (<em>SCLE: warrants +15.24%</em>) &amp; Voltus (Valuation: $816M EV)</li><li>CF Acquisition Corp. VI (<em>CFVI</em>) &amp; Rumble (Valuation: $816M EV)</li></ul>

Atlantic Coastal Acquisition Corporation (ACAH: warrants +19.10%) &amp; Essentium (Valuation: $974M EV)Broadscale Acquisition Corp. (SCLE: warrants +15.24%) &amp; Voltus (Valuation: $816M EV)CF Acquisition Corp. VI (CFVI) &amp; Rumble (Valuation: $816M EV)

Rumble in the SPAC Jungle with 3 deals today

Benessere Capital Acquisition / Equity Capital Markets

<ul><li>Benessere Capital Acquisition Corp. (<em>BENE: warrants +68.75%</em>) &amp; Ecombustible</li><li>3D Printing Firm Essentium in Talks to Go Public Through Atlantic Coastal SPAC</li><li>Bitcoin Miner Griid Is In Talks To Go Public Via Merger With Adit EdTech SPAC</li></ul>

Benessere Capital Acquisition Corp. (BENE: warrants +68.75%) &amp; Ecombustible3D Printing Firm Essentium in Talks to Go Public Through Atlantic Coastal SPACBitcoin Miner Griid Is In Talks To Go Public Via Merger With Adit EdTech SPAC

United States

Atlantic Coastal Acquisition Corp. operates as a blank check company. The Company aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization.

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Atlantic Coastal Acquisition (ACAH US)

SPAC Talk - Why Traditional IPOs Remain the Default Choice for Private Companies to Go Public

September has begun spritely, with four new IBC transactions announced in the first eight days, all of which were valued at below $400 million.

Water Tower Research

Failed Shuttle Launches and Failed Overtures to Rogan & Tottenham

Archer fails to launch, Rumble’s $100M offer to lure Joe Rogan to its platform is rejected, 2 SPAC deals are terminated, and a 3rd quantum...

SPAC Track

Rumble in the SPAC Jungle with 3 deals today

Atlantic Coastal Acquisition Corporation (ACAH: warrants +19.10%) & Essentium (Valuation: $974M EV). Broadscale Acquisition Corp. (SCLE: warrants...

SPAC Track

SPAC Underwriters are Thankful

Benessere Capital Acquisition Corp. (BENE: warrants +68.75%) & Ecombustible

SPAC Track

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