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hmmm- very interesting post. Thank you.
Months ago I was pounding the table on $LAZR $11. $CFAC is a very similar play, albeit slightly more risky, because the merger has not closed yet. But IMO this has a great risk/reward ratio.
$CFAC will most likely merge with AEYE. https://www.facebook.com/AEyeInc/
"AEye is the creator of iDAR™ (Intelligent Detection and Ranging), an artificial perception platform for vehicle autonomy, ADAS, and robotic vision applications. iDAR fuses solid-state agile lidar, an optional camera, and integrated AI to create a smart, software-definable sensor. AEye has partnered with leading tier-1 suppliers and system integrators to configure and manufacture the sensor at scale." -SA
AEye is a very legit Lidar company working on self driving vehicles with partnerships and customers like Subaru, Intel, LG, Hella, Continental tires, OEMs, Airbus etc.
It currently has similar revenue to Luminar at about 15M a year, but I think will be much less valued than Luminar at merger and thus, have a lot of room to run.
" In December, Cantor raised $500 million for its fourth special purpose acquisition company, and this month filed for a fifth SPAC." Cantor is closing deals fast on these and I think this one is close to being done.
Aeye CEO is a complete badass. https://www.aeye.ai/about-aeye/blair_lacorte/
Amazing track record, "Innovator of the year" by NASA and is currently "an investor and astronaut in training with Virgin Galactic, as well as an investor in Moon Express, designer of the next generation of robotic spacecraft systems."
I am confident this deal will close soon and have a $22 Price target IF the merger goes through. If it does not, it will drop to the $11 area and you would have to wait for their next target to recoup. I like the odds.
Some PRs:
https://www.bloomberg.com/.../aeye-is-said-in-talks-to-go...
https://www.ledinside.com/news/2020/1/robotaxi_aeye_tata
https://www.ledinside.com/.../aeye_partners_hella_lg...
https://www.aeye.ai/.../aeye-wins-most-outstanding.../
https://www.aeye.ai/news/press_releases/
lol! Someone tell me why ADNWW isn't trading around $5 today?
https://stocktwits.com/DataLake_Strategies_US/message/285373100 found a few new ones in this post that I did not see on the most recent page.
GHVI Bloomberg rumor, merger with Matterport
https://matterport.com/
https://www.streetinsider.com/Hot+M+and+A/Matterport+Said+in+Merger+Talks+with+Gores+Holdings+VI%2C+Inc+%28GHVI%29+SPAC+-+Bloomberg/17924326.html
Gotcha.
Hope it runs bigtime.
I actually got out. Didn't have that many shares or warrarts.
I bought 500 shares.
Good morning.
And feel for a target valuation with the information provided thus far?
FTOC
BLLB has all fillings updated. Pink Current on OTC, yet still has CE erroneously in place. Once error corrected this is gonna fly.
Really?
That's weird for me. G2P stocks never make the news!
Any Luck on OTC Markets?
CHOICE CONSOLIDATION CORP
PSAC 19.5 PSACW 4 - why are the warrants lagging so much?
$THCB 15.66 Battery Maker Microvast Agrees to Merger With Tuscan SPAC
https://www.bloomberg.com/news/articles/2021-02-01/battery-maker-microvast-said-to-agree-to-merger-with-tuscan-spac
ALUS just announced a merger with Norway's Freyr.
Seems a bit far down the road at first glance but
Norway's sovereign wealth fund just announced they have sold
the last of their oil and gas assets.
https://www.vox.com/22256192/norway-oil-gas-investments-fossil-fuel
Powered Brands (POWRU): Kind of liking this due to the market they want to target. Unit includes 1/3 warrant.
Any Luck on OTC Markets?
CHOICE CONSOLIDATION CORP
WOW! That's a mouth full.
Any volunteers??
Check www.otcmarkets.com daily for new ticker for the SPAC
Choice Consolidation Corp
CHOICE CONSOLIDATION CORP
WAITING ON A TICKER.
Who is going to check on OTC Markets every day performing the company name search?
https://www.otcmarkets.com/
It sure seems that way... makes me want to buy more!
I was saying the confusion could explain the declining pps on the warrants.
Who thinks the warrants are being canceled?
Here it is again in a filing that public warrants will trade:
AMCI’s units, AMCI Class A common stock and AMCI’s public warrants are publicly traded on the Nasdaq Capital Market (“Nasdaq”). We will apply to list the New AMCI common stock and public warrants on Nasdaq under the symbols “ADN” and “ADNW”, respectively, upon the Closing. Upon the Closing, AMCI’s units will be separated into their component securities and will cease to be listed on Nasdaq.
“Advent Technologies Holdings, Inc.”, and it is expected that its common stock and public warrants will be listed on the NASDAQ. The combined company will continue to operate under the current Advent management team, led by Chief Executive Officer, Dr. Vasilis Gregoriou. The proposed business combination, if approved by the stockholders of AMCI and Advent, is currently expected to close in Q1 2021.
https://www.businesswire.com/news/home/20210120005755/en/AMCI-Acquisition-Corp.-Announces-Special-Meeting-of-its-Stockholders-to-Consider-Proposed-Business-Combination-with-Advent-Technologies-Inc./?feedref=JjAwJuNHiystnCoBq_hl-Rc4vIAVcHHkbDcwJimU8QtrtlakeQ9hNboBqTAWIjTge3KWq9s9jif-UkBjBsFRyYAbRTSLTc1mgvhPlnaBA55M-oupQnbXnhKsYk8RmHF_kAy2gZikaX3QWV6xOvgFlA==
I thought this was put to bed, read this thread:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=159717125
I'll have to go back and look, I have too many shares not to figure this out.
Yep, there will just be a new symbol...
Looks like peeps are confused or I'm confused on the AMCIW warrants. Reading the merger docs I think people see the Advent warrants & options being cancelled upon consummation of the merger and think the AMCIW warrants are being cancelled also.
Personally I don't see it that way. I didn't see any mention that the AMCIW warrants were going to be cancelled.
Granted I scanned thru it specifically looking for warrant treatment - I could have missed it somewhere but from all the SPAC mergers I've seen the warrants always survive and take on the new symbol when the change occurs.
Good morning.
Thanks for your insight.
What is the consensus around here? Do most of y’all load the units and just “sell on merger news” for a sure profit?
FTOC I'd really do some DD on the incoming company. While all most all of these SPAC fintech names have been super sexy I'm not so sure I'm in love with this one. I bet it could run higher no doubt but maybe not one to hold forever.
GL with it!
Sure thing.
A special purpose acquisition company (SPAC) is a corporation formed for the sole purpose of raising investment capital through an initial public offering (IPO). Such a business structure allows investors to contribute money towards a fund, which is then used to acquire one or more unspecified businesses to be identified after the IPO.
When the SPAC raises the required funds through an IPO, the money is held in a trust until a predetermined period elapses or the acquisition is made. In the event that the planned acquisition is not made or legal formalities are still pending, the SPAC is required to return the funds to the investors, after deducting bank and broker fees.
A special purpose acquisition company is formed by experienced business executives who are confident that their reputation and experience will help them identify a profitable company to acquire. Since the SPAC is only a shell company, the founders become the selling point when sourcing funds from investors.
The founders provide the starting capital for the company and they stand to benefit from a sizeable stake in the acquired company. The founders often hold an interest in a specific industry when starting a special purpose acquisition company.
When issuing the IPO, the management team of the SPAC contracts an investment bank to handle the IPO. The investment bank and the management team of the company will agree on a fee to be charged for the service, usually about 10% of the IPO proceeds. The securities sold during an IPO are offered at a unit price, which represents one or more shares of common stock.
The prospectus of the SPAC mainly focuses on the sponsors, and less on company history and revenues since the SPAC lacks performance history or revenue reports. All proceeds from the IPO are held in a trust account until a private company is identified.
After the SPAC has raised the required capital through an IPO, the management team has 18 to 24 months to identify a target and complete the acquisition. The period may vary depending on the company and industry. The fair market value of the target company must be 80% or more of the SPAC’s trust assets.
Once acquired, the founders will profit from their stake in the new company, usually 20% of the common stock, while the investors receive an equity interest according to their capital contribution.
In the event that the predetermined period lapses before an acquisition is completed, the SPAC is dissolved, and the IPO proceeds held in the trust accounts are returned to the investors. When running the SPAC, the management team are not allowed to collect salaries until the deal is completed.
A SPAC floats an IPO to raise the required capital to complete an acquisition of a private company. The capital is sourced from retail and institutional investors, and 100% of the money raised in the IPO is held in the trust account. In return for the capital, investors get to own units, with each unit comprising a share of common stock and a warrant to purchase the common stock at a later date.
The purchase price per unit of the securities is usually $10.00. After the IPO, the units become separable into shares of common stock and warrants, which can be traded in the public market. The purpose of the warrant is to provide investors with additional compensation for investing in the SPAC.
The founders of the SPAC will purchase founder shares at the onset of the SPAC registration, and pay nominal consideration for the number of shares that results in a 20% ownership stake in the outstanding shares after the completion of the IPO. The shares are intended to compensate the management team, who are not allowed to receive any salary or commission from the company until a combination transaction is completed.
The units sold to the public comprise a fraction of a warrant, which allows the investors to purchase a whole share of common stock. Depending on the bank issuing the IPO and the size of the SPAC, one warrant may be excisable for a fraction (either half, one-third or two-thirds) or a full share of stock.
For example, if a price per unit in the IPO is $10, the warrant may be exercisable at $11.50 per share. The warrants become exercisable either 30 days after the De-SPAC transaction or twelve months after the SPAC IPO.
The public warrants are cash-settled, meaning that the investor must pay the full cost of the warrant in cash to receive a full share of stock. Founder warrants, on the other hand, maybe net settled, meaning that they are not required to deliver cash to receive a full share of stock. Instead, they are issued with shares of stock with a fair market value equal to the difference between the stock trading price and the warrant strike price.
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