apologize for not being completely accurate. I was a little confused at first, but now I understand what the deal is. When you purchased shares of the stock during the first 52 days of trading, you received 1/9 of a redeemable warrant as well as a 2/9 of an additional Tontine redeemable warrant. So each share bought prior to Sept 8 got a total of 3/9 or 1/3 of additional warrants. The 1/9 redeemable warrant is the one that was separated for trading under PSTH-WT. You still have the additional 2/9 of a warrant for each share, but these will only be distributed if you hold the shares through the initial business combination. After the initial business combination, these are also expected to be separated for trading under PSTH-WT. Each whole warrant can be exercised for one share of Class A stock at $23 a share. In the end, the 1/9 and 2/9 of a warrant you received are effectively the same warrant, the only difference being that the 1/9 was separated out at Sept. 8. They added the additional 2/9 as an incentive for investors to stick with the stock through the initial business combination.
As an example, say you purchased 90 shares of the stock prior to Sept 8. WIth these shares, I get 30 additional warrants, but only 10 of these were part of the unit separation and are now trading separately under PSTH+. You still have 20 more warrants, but you only get these if you hold your shares through the initial business combination. If you now purchase additional shares after Sept 8, you still get the 2/9 of additional warrants per share, but not the whole 3/9 you did before. The additional 1/9 of a warrant dropped away now so if I buy 90 more shares today, I get 20 additional warrants that I can only receive if I hold onto the shares. So buying before Sept 8, you receive 1/3 (3/9) of a warrant per share and buying now you receive 2/9 of a warrant per share so there was an advantage for buying shares before Sept 8, because you did receive the additional 1/9 of a warrant per share for a total of 1/3 instead of the 2/9 you would receive now. Hope this helps.
