Bard gives a different answer for the exact same question each time you ask, but this one is interesting:
How are WMI holdings Corp, Paladin Acquisitions Corp, and Wand Merger Corp related?
Paladin Acquisitions Corp. and Wand Merger Corp. are both blank check companies, also known as Special Purpose Acquisition Companies (SPACs). These companies are formed with the sole purpose of acquiring another company. In the case of Paladin Acquisitions Corp. and Wand Merger Corp., the target company is WMI Holdings Corp.
A SPAC typically raises money through an initial public offering (IPO). The proceeds of the IPO are then used to acquire another company. The acquisition is typically structured as a merger, in which the SPAC merges with the target company and the target company's shareholders become shareholders of the SPAC.
In the case of Paladin Acquisitions Corp. and Wand Merger Corp., the proposed acquisition of WMI Holdings Corp. would be a reverse merger, in which WMI Holdings Corp. would merge with the SPAC and the SPAC's shareholders would become shareholders of WMI Holdings Corp.
The proposed acquisition of WMI Holdings Corp. by Paladin Acquisitions Corp. and Wand Merger Corp. is still pending regulatory approval. If the acquisition is approved, it would create a new publicly traded company that would own and operate WMI Holdings Corp's real estate assets.
Here is a table summarizing the relationship between WMI Holdings Corp., Paladin Acquisitions Corp., and Wand Merger Corp.:
Company Type Target Company
WMI Holdings Corp. Real estate investment trust -
Paladin Acquisitions Corp. SPAC WMI Holdings Corp.
Wand Merger Corp. SPAC WMI Holdings Corp.
