It is not a toss-up Snow. If you prefer near term value then you should vote for option 1 as you will get twice as much in dividends from your CoW shares. If you go for option 2 though, you will received less in dividends for now, but 2.5x more in the long run.
If you don't care then don't vote.
I voted for option 1 because I'm not very fond of these offerings in general. And we will have another 4 with 4 additional SPAC's with option 2, adding complexity that I do not want.