Special Purpose Acquisition Co

[dijeetyet]

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