Research from Water Tower Research, Water Tower Research

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.

Research from Water Tower Research

Equity Research Firm

Thematic (Sector/Industry)

United states Financials / Thematic (Sector/Industry)

<ul><li>Excess supply of SPACs continues to dwindle. SPAC IPOs continue to be few and far between, with the sole pricing thus far in June being media &amp; entertainment focused ESH Acquisition Corp.</li><li>(ESHA) priced on June 14, with the SPAC raising $115 million including take-up of the underwriter’s green shoe option.</li><li>This brings the total to 16 IPOs as we approach the end of the first half of 2023.</li></ul>

Excess supply of SPACs continues to dwindle. SPAC IPOs continue to be few and far between, with the sole pricing thus far in June being media &amp; entertainment focused ESH Acquisition Corp.(ESHA) priced on June 14, with the SPAC raising $115 million including take-up of the underwriter’s green shoe option.This brings the total to 16 IPOs as we approach the end of the first half of 2023.

Malacca Straits Acquisition Company (MLAC US)

Jaws Hurricane Acquisition Cor (HCNEU US)

SPAC Talk - The State of the Market - Signs of Life