SPAC & IPO Ideas

Jysin · Feb 26, 2021

Jackie Treehorn said:
I think CPUHU is splitting next week? I thought I’d seen it was March 4th for some reason. Someone correct me if I’m wrong.

At any rate at $10.55 it’s a good time to get in and get your 1/4 warrants.

I missed out on 4 grand this week by not selling and rebuying.

Not sure the exact date either, but thanks for the reminder of 1/4 warrants. Just filled orders in 2 diff accounts of CPUH/U shares to be 1/4 divisible for max warrants.

Big Phoenix · Feb 26, 2021

Do you warrants do anything for you unless you actually buy them?

Sanrith Descartes · Feb 26, 2021

Big Phoenix said:
Do you warrants do anything for you unless you actually buy them?

You can sell them at anytime to someone else. Just like shares.

Jackie Treehorn · Feb 26, 2021

Jysin said:
Not sure the exact date either, but thanks for the reminder of 1/4 warrants. Just filled orders in 2 diff accounts of CPUH/U shares to be 1/4 divisible for max warrants.

Hmm. I found some posts saying next week but others saying March 28th.

Is there even a definitive date written anywhere for these? Prospectus maybe?

Aorin · Feb 26, 2021

Jackie Treehorn said:
Hmm. I found some posts saying next week but others saying March 28th.

Is there even a definitive date written anywhere for these? Prospectus maybe?

Its usually 52 days after it IPOs. Prospectus on this one says:

We expect that the Class A common stock and warrants comprising the units will begin separate trading on the 52nd
day following the date of this prospectus (or, if such date is not a business day, the following business day) unless Goldman Sachs & Co. LLC informs us of their decision to allow earlier separate trading, subject to our filing a Current Report on Form 8-K
with the Securities and Exchange Commission, or the SEC, containing an audited balance sheet reflecting our receipt of the gross proceeds of this offering and issuing a press release announcing when such separate trading will begin. Once the securities comprising the units begin separate trading, we expect that the Class A common stock and warrants will be listed on the NYSE under the symbols “CPUH” and “CPUH WS” respectively

prospectus has 1/19 date on sec, and 1/29 as ammended. So what the actual date is I have no idea.

Jackie Treehorn · Feb 26, 2021

Aorin said:
Its usually 52 days after it IPOs. Prospectus on this one says:

We expect that the Class A common stock and warrants comprising the units will begin separate trading on the 52nd
day following the date of this prospectus (or, if such date is not a business day, the following business day) unless Goldman Sachs & Co. LLC informs us of their decision to allow earlier separate trading, subject to our filing a Current Report on Form 8-K
with the Securities and Exchange Commission, or the SEC, containing an audited balance sheet reflecting our receipt of the gross proceeds of this offering and issuing a press release announcing when such separate trading will begin. Once the securities comprising the units begin separate trading, we expect that the Class A common stock and warrants will be listed on the NYSE under the symbols “CPUH” and “CPUH WS” respectively

Ah ha, thanks sir. It does look to be end of March then. Darn.

Jysin · Feb 26, 2021

Jackie Treehorn said:
Ah ha, thanks sir. It does look to be end of March then. Darn.

Still, this price point is pretty great. 52wk says the low was 10.38, so happy to add here as there isn't that much room below.

Market could catch its feet next week and we would be kicking ourselves for not taking this price.

*edit* plus if we see an absolute market bloodbath, happy to buy more at absolute rock bottom for free money.

Jackie Treehorn · Feb 26, 2021

Jysin said:
Still, this price point is pretty great. 52wk says the low was 10.38, so happy to add here as there isn't that much room below.

Market could catch its feet next week and we would be kicking ourselves for not taking this price.

*edit* plus if we see an absolute market bloodbath, happy to buy more at absolute rock bottom for free money.

Oh totally. I’m still in for well over 3000 units at $10.69 or something like that.

Dr.Retarded · Feb 26, 2021

Jackie Treehorn said:
Oh totally. I’m still in for well over 3000 units at $10.69 or something like that.

Jackie Treehorn do you mind giving a quick run down on the warrant situation. I've got 1k units. Do I need to do anything special before the split?

Edit: I know somebody explained it I think in a previous post but I just can't find it.

Thanks in advance.

Big Phoenix · Feb 26, 2021

iirc you have to specifically tell your broker to split them. Also some brokers charge a fee.

Sanrith Descartes said:
You can sell them at anytime to someone else. Just like shares.

Ah, I thought you had to actually buy them(excise the option) first before you can do anything with them.

Sanrith Descartes · Feb 26, 2021

Big Phoenix said:
iirc you have to specifically tell your broker to split them. Also some brokers charge a fee.

Ah, I thought you had to actually buy them(excise the option) first before you can do anything with them.

Nope. Until called they can trade just like a share of stock. So if you got 500 warrants at $1.0 when the units split and they went up to $2.0 as the stock share price doubled you could sell them for $1000 and make $500 profit.

TheBeagle · Feb 26, 2021

Dr.Retarded said:
Jackie Treehorn do you mind giving a quick run down on the warrant situation. I've got 1k units. Do I need to do anything special before the split?

Edit: I know somebody explained it I think in a previous post but I just can't find it.

Thanks in advance.

When you exercise your warrants you will have to call your broker and it will cost whatever the initial offering was to turn them into shares. Probably $10/share. There's a limited time to exercise those warrants after the merger. Bit of a pain in the ass if you want to actually own the stock of the target company. Upside of the warrants is volatility if that's what you're looking for. Bigger swings and drops when rumors hit.

Sanrith Descartes · Feb 26, 2021

TheBeagle said:
When you exercise your warrants you will have to call your broker and it will cost whatever the initial offering was to turn them into shares. Probably $10/share. There's a limited time to exercise those warrants after the merger. Bit of a pain in the ass if you want to actually own the stock of the target company. Upside of the warrants is volatility if that's what you're looking for. Bigger swings and drops when rumors hit.

Not 100% accurate but close. The warrants themselves tend to have a 5-year shelf life. When certain criteria have been met (usually x consecutive months above X stock price) that are listed in the founding docs, the company can call in the warrants. Once they are called, you have a limited time to exercise your right to swap them.

TheBeagle · Feb 26, 2021

Sanrith Descartes said:
Not 100% accurate but close. The warrants themselves tend to have a 5-year shelf life. When certain criteria have been met (usually x consecutive months above X stock price) that are listed in the founding docs, the company can call in the warrants. Once they are called, you have a limited time to exercise your right to swap them.

So if the prospectus says "five from date of merger" but they hit the target in three then they just call em in and it's done?

Sanrith Descartes · Feb 26, 2021

TheBeagle said:
So if the prospectus says "five from date of merger" but they hit the target in three then they just call em in and it's done?

Assuming you meant "five years from the merger date" but they hit the targets in the 1st three months then yeah. It happened this way with NKLA and HLYN. Let me find some SEC forms to copy/paste.

Every SPAC is different which is why reading the formation docs (at least the important parts).

CCIV: The warrants will become exercisable on the later of 30 days after the completion of our initial business combination and 12 months from the closing of this offering (the “warrant exercise date”), and will expire five years after the completion of our initial business combination or earlier upon redemption or liquidation (the “warrant expiration date”), as described in this prospectus.

CCIV doesnt have a price target trigger. just time.

TheBeagle · Feb 26, 2021

Sanrith Descartes said:
Assuming you meant "five years from the merger date" but they hit the targets in the 1st three months then yeah. It happened this way with NKLA and HLYN. Let me find some SEC forms to copy/paste.

Every SPAC is different which is why reading the formation docs (at least the important parts).

CCIV: The warrants will become exercisable on the later of 30 days after the completion of our initial business combination and 12 months from the closing of this offering (the “warrant exercise date”), and will expire five years after the completion of our initial business combination or earlier upon redemption or liquidation (the “warrant expiration date”), as described in this prospectus.

CCIV doesnt have a price target trigger. just time.

View attachment 337986

I had FVAC warrants that turned into MP warrants. I went through the filings and couldn't quite pin down those dates so gave up and just sold the warrants for like +60% or something. I would have exercised them but doing anything over the phone sucks and I got tired of being on hold.

Sanrith Descartes · Feb 26, 2021

Here is a decent write up on the underlying value of SPACs and why paying above the NAV before a target is announced makes little sense financially. It speaks about PSTH but applies to all SPACs.

Pershing Square Tontine Has the Two Big SPAC Problems

At $29 and without a merger target, PSTH stock is now pricing in an incredible amount of deal value. It's unlikely to find that value.

investorplace.com

Wingz · Feb 28, 2021

Bought some BSPE at 9.94 this last week.
Even if they don't do anything and don't merge you still get 10 bucks per share i think.

Locnar · Feb 28, 2021

Wingz said:
Bought some BSPE at 9.94 this last week.
Even if they don't do anything and don't merge you still get 10 bucks per share i think.

They can claim expenses , so you could only get 9.5 or somesuch

Sanrith Descartes · Mar 1, 2021

NSH merging with Spire Global. I grabbed some just now at $11.25. See if it pays off.

Spire Global, Inc., a Leading Global Provider of Space-Based Data and Analytics, to Go Public Through a Merger with NavSight Holdings, Inc.

Spire Global, Inc. (“Spire” or the “Company”) a leading global provider of space-based data and analytics, and NavSight Holdings Inc. (“NavSight”) (NY

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Pershing Square Tontine Has the Two Big SPAC Problems

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Spire Global, Inc., a Leading Global Provider of Space-Based Data and Analytics, to Go Public Through a Merger with NavSight Holdings, Inc.