Good Works Acquisition Corp (GWAC)

[77Port]

XGIN, I don't mean to be rude, but I'm asking a small favor. Also for anybody else who knows the answers. I have three questions below. And here's a short history to show I'm legit. I've been following blockchain mining since 2017, own three mining stocks and can keep up with conversations regarding POW, POS, energy use, etc. I know the name Bitfury but, until now never saw them as an investable company. So, this specific SPAC interests me. However, I know nothing about SPACs. A couple of weeks ago I was looking at eSports gaming and found this SPAC: DMY. Within a few minutes of searching, I had three different DMY possibilities, read a bunch of articles and realized not only did I not know what I was doing, but the writers of these articles didn't know how to write. So I did nothing, not wanting to buy the wrong one.

I've searched and read many articles and have found none which explain the most basic questions. So, I'm asking if you can tell me if I'm right regarding the differences between whole shares and warrants.

Friday I was watching GWAC and almost bought in at $10.80ish, but didn't.
https://seekingalpha.com/symbol/GWAC
Then I looked on Ihub and found this new board. I saw your Friday post about buying warrants at $2.60. Is that the same as GWACW, showing $2.25USD. Link: https://seekingalpha.com/symbol/GWACW

Question setup: To buy a "whole" share, now at $11.12USD: Each unit consists of one share of common stock and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one share of common stock at $11.50."

In the 10-K filing it says what you stated in Post 15: "We have the ability to redeem outstanding warrants ... after they become exercisable and prior to their expiration ... provided that the ... common stock equals or exceeds $18.00 per share for any 20 trading days within a 30 trading-day period."

Like I said, I can't find any articles clearly answering these questions.

QUESTION 1: Regarding the whole shares, symbol: GWAC, now trading at $11.12. These are "regular shares," always worth their value. If I buy at $11.12, and it goes to $16.12, then I'm up $5. Likewise, if the price goes to $6.12, then I'm down $5. And if I exercise my right to put together two half-warrants, and wait the proper amount of time, and if the price goes over $18, then I can buy an equal number of Warrants at the $11.150 price. Correct?

QUESTION 2: Warrants: symbol: GWACW, now trading at $2.25. See chart above. Am I correct in my understanding that, unlike the whole shares, the amount paid for the Warrants is forever gone no matter what happens? The value of Warrants is that it's not a half Warrant, but an opportunity to buy a whole share at $11.50, if the SP is above $18 and within the rules, etc. So, the Warrant is a wager that the share price may rise allowing the purchase of a rising stock at a great price, risking only the $2.25. Do I have this right or am I off?

Again, I've searched articles and cannot find this in plain language. I'm hoping you can tell me if I'm on the right track.

One more question, please. In all SPACs, there seems to be a third option, too: What is GWACU: Good Works Acquisition Corp - Units (1 Ord Share & 1/2 War); at 9.99?
https://seekingalpha.com/symbol/GWACU

Thank you to whoever can provide any clarity on this.