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Well Pershing square did this,
"Pershing Square notably formed a blank check company called Justice Holdings and in 2012 bought a large stake in Burger King, taking the restaurant public. The deal, in partnership with private equity giant 3G capital, turned into a massive windfall for Ackman and Pershing Square."
Theirs a ton of news articles on it so we'll find out
thanks for putting it on our radar
Would be nice to know. Looks like it will be a big one.
So I looked at ORSN filings quickly
Warrant terms are for 1/2 a share, so 2 warrants + 11.50 will get you a share. They want to merge with a tech company. There's about 40 million shares.
Ist filing was last june
I like the ticker, makes me think of those old black and white movies
I keep picturing Orson Wells in the shadows or on the Ferris wheel.
New SPAC ORSN ORSNW
warrants .25 Got a few for now will research later.
Not recommending anyone work in that order.
Oh wow more fun.
I need to start a new streamer page for all of this stuff
we have that one SAMA SAMAW
I've only been doing SPACs since March so keep that in mind
Warrants are something like options. The deals are written out in the 10k's
The recent ones I've run into allow you to buy one share of stock for 11.50 when they become exercisable usually at a certain point post merger, you've gotta read pr's or filings for the terms.
The company can call the warrants meaning you must buy the shares within a certain time or they become worthless (or you can just sell them) Another possibility is that the co does a cashless exchange and you just get some shares based on the same metric IE if the shares were trading at 34.50 you'd get 34.50-11.50 = $23 so 2/3rds of a share for each warrant that you owned.
You can buy and sell them like a stock so don't worry about playing around with them. It's fun
Shoot db , not much movement in the underlying asset so probably just traders having thier way with it....but don't want to sell in case..... Just like pennies
I was just going to post that
Well don't keep to many secrets DB
It's so new, all these filing to read and understand
and stocks running like stuck pigs.
I think we'll get good at this.
we're making good money,it's big motivator
PAAC PAACW making a move today
the merger co is based in Hong Kong
Like trading pennies....
The publicly traded warrant is one for one
The unit can give any % of a warrant per share that the co sets up.
so if the co issues 25,000,000 million shares with 1/10 warrant per unit there will be 2,500,000 whole warrants once the units are broken up.
that's my read
then there's that other entity called a right which in the case of ANDAR is equal to 1/10 of a share
I'll read it. There's a learning curve here for sure
Check the chart of ANDA, I think they keep using the same ticker
for Andina acquisition corps 1 11 and 111
OK from the latest 10K
Units, each consisting of one ordinary share, one right, and one redeemable warrant ANDAU
Ordinary Shares, par value $0.0001 per share ANDA The
Rights, each to receive one-tenth (1/10) of one ordinary share ANDAR
Redeemable warrants, exercisable for ordinary shares at a price of $11.50 per share ANDAW
Looks like a good one
When I read that agreement I see that you for sure get 1/10 of one share when you buy a unit but that a publicly traded warrant is the usual one to one+11.50. Those terms make sense.
New to this so I'm hoping I'm reading it right
OK ANDAW
Starting a pile. ANDAW @ .32 based on Cowen (VTIQ) involvement
Looks like it will be a beauty.
in some NEBU and NEBUW
Why is NEBUU @ b 26.00 a 4294.67?
lol
NEBU NEBUU NEBUW.
They were trying to talk warrant holders into redeeming their warrants for 1.80. The deal was voted on today, deal passed, warrant deal did not. I looked at the filings and it seems like a normal warrant deal IE each whole warrant can be used to buy a share at 11.50.
The unit NEBUU 1 share + 1/3rd warrant traded as high as 30 today
the shares were stuck at 12 and warrant sat@ 1.80 till around 2
I'm guessing this does well tomorrow
(if I read everything right)
I was thinking look at the co's that have had big success and see what they have on the burner now
Nice one , picked up a few this morning
So many SPAC's , so little time
HCCH HCCHW
merger announced
https://www.globenewswire.com/news-release/2020/06/08/2044889/0/en/HL-Acquisitions-Corp-executes-Business-Combination-Agreement-with-Fusion-Welcome-Fuel-SA-providing-entry-into-the-Green-Hydrogen-sector.html
Man I look at that chart and I want to own this one from .11
the way Pat piled up shells on Magic.
SPAC piling , could be a thing.
For sure. did you follow DKNG and DKNGW? I really didn't but from the chart it looks like after the exercise was announced the Arbitrage went out of the trade fairly quickly.
NKLA hit $60.00's
warrants still look like a great arb play
Oh nice
I worked with one of the UTZ's at an opera company
nice guy, alway's think about that when I get those chips
NKLA NKLAW
nice interview with Trevor on CNBC
the crowd seems to like it
(I thought they might)
Warrants still trading at an 8$ discount to shares if they will be exercised ( I think they will)
NLLSF running due to NKLA orders
CNHI in play as well
Nice CNBC interview with Trevor
investors seem to like it
can't wait to see what happens when this hit's the mainstream.
GPAQ GPAQW
https://www.prnewswire.com/news-releases/gordon-pointe-acquisition-corp-provides-update-on-proposed-business-combination-with-hof-village-llc-301027725.html
https://www.prnewswire.com/news-releases/hof-village-llc-announces-acquisition-of-youth-sports-management-llc-301070477.html
Hard sell for this one as it's sports based and came out right as Covid hit
I don't think that's bad news at .09 a share.
depends on merger of course but 1/10 of 10.00 is 1.00
lotto spac
So it's 1/10 of a share as the conversion or 2 warrant + 11.50 to exercise?
Or are the private warrants different because they have at least a 1/10 share value? so much math.
Would have been nicer last week.
I bought a lotto warrant ESSCW .09
They just separated their warrant in March.
ARYA ARYAW
I missed that boat, interesting that the Merger was announced in mid March and it's just running now.
Yes was looking at SJ, SJOYW not such a hot one
I'll expand on that list for I box
Cool will put on list.
Cool will put on list.
These real co's that trade like penny stocks...so much fun.
Hi Ed
still in NC?
yeah I'm looking at what they are, will post.