SPAC & IPO Ideas

Jysin said:

Polestar has been out with vehicles sold for a while though. It’s not a Lucid or Lordstown.

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oh.

PSTH
Tender clock has started. Details and the like...

PSTH

Over an hour on the phone with Fidelity. Broker said even the support team is boggled by this transaction. They are going to get back with me once they can research all the moving parts (warrant redemption process, how would I offload UMG shares in my IRA in the future if they dont list in the US since I cant trade Intl stocks etc...).

Sanrith Descartes said:

PSTH

Over an hour on the phone with Fidelity. Broker said even the support team is boggled by this transaction. They are going to get back with me once they can research all the moving parts (warrant redemption process, how would I offload UMG shares in my IRA in the future if they dont list in the US since I cant trade Intl stocks etc...).

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Bill Ackman so clever he’s stupid?

Had an after hours limit order pop to sell my PSTH commons. Made 4% which considering the time I held it is shitty, but green is green. I have a golden rule I try to invest by which is dont invest in shit you cant understand. While I understand the music industry, I cant fathom this fucking deal and I have an MBA. When the support team at Fidelity was basically like "we need to get back to you before we can actually explain any of it to you" that was sort of the last nail. The risk for me since I hold it in an IRA exceeded the possible reward since I cant actually sell those UMG shares once i get them without a US listing. And while I "think" a US listing is gonna happen and Ackman isnt out on CNBC saying reassuring investors its gonna happen, I opted to just bail with a profit.

I still have my warrants which are underwater a bit so rather than sell at a loss, I will convert those to commons and see what happens with the US listing. I have 230 warrants so basically a conversion to about 60 PSTH shares. Thats a dollar amount I am willing to gamble with. The other option is to say fuck UMG totally and just hold on to the warrants for remainco. I havea couple of weeks to decide. If I see commons crash down near $20 I might buy some in my brokerage account.

Sanrith Descartes said:

When the support team at Fidelity was basically like "we need to get back to you before we can actually explain any of it to you" that was sort of the last nail.

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Biggest reason Ackman is being a total retard on this deal. When the details were announced my thought was, “Wow. I’m lazy so I’m not even going to try to understand this deal, but that’s probably just me.”

Turns out, nope! Ackman put together such a convoluted plan, not even the exchanges can understand it or how to process it. Brilliant work Bill Fagman!

NSH

Not a big contract extension but $6m is $6m and its coming from NASA.

BRIEF-Spire Awarded Contract For Earth Observation Data
REUTERS 7:19 AM ET 7/14/2021
Symbol Last Price Change
NSH 9.97down 0 (0%)
QUOTES AS OF 04:10:00 PM ET 07/13/2021
July 14 (Reuters) - NavSight Holdings, Inc.(NSH):

* SPIRE AWARDED CONTRACT FOR EARTH OBSERVATION DATA

* SPIRE GLOBAL INC. - CONTINUATION OF ITS PARTICIPATION IN NASA'S COMMERCIAL SMALLSAT DATA ACQUISITION PROGRAM WITH A SIX-MILLION-DOLLAR CONTRACT EXTENSION Source text for Eikon: Further company coverage:

Jysin said:

PSTH new all time low. Very happy I cut bait during the DA presentation

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BTWN got hit with 15% of its volume in the span of 3 minutes and that started a run to the door or just triggered stop losses. This could be a sign that something is coming soon.

Jysin said:

PSTH new all time low. Very happy I cut bait during the DA presentation

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Wrote the PSTH $21 strike puts expiring next Friday. Got them for 25 cents premium. And wrote the options from my brokerage account that can trade international.

Jysin said:

PSTH in the $20s.
Man o man. Imagine those bag holders.

Do you really think remainco keeps its nav with no actual spac protection? Highly doubt it with this price action, which was part of my concern and one of my reasons for selling in the first place.

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I have bounced this around in my head a lot. Here is what I see. Since PSH owns so much of remainco if someone were to try to short it into the dirt after the 1:4 reverse split Ackman could choose to buy more with PSH and squeeze the shorts. Especially considering the float is going to compress with that reverse split. It would take some big balls to try to short a hedge fund.

Jysin said:

PSTH in the $20s.
Man o man. Imagine those bag holders.

Do you really think remainco keeps its nav with no actual spac protection? Highly doubt it with this price action, which was part of my concern and one of my reasons for selling in the first place.

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If the price gets low enough I am thinking of buying some commons in my brokerage account to go with the puts I wrote that expire next friday. I am playing it day to day.

Bought 99 shares of PSTH at 20.50 in my brokerage account. At least this was I can actually trade UMG and also add any cash I need for any SPARCs down the road.

The PSTH shitshow continues. SEC kills the deal with UMG.

Sanrith Descartes said:

The PSTH shitshow continues. SEC kills the deal with UMG.

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Much wow.

Sanrith Descartes said:

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Well this is kinda cool I reckon. I wonder when / if SPACs will come back into vogue.

Jackie Treehorn said:

Well this is kinda cool I reckon. I wonder when / if SPACs will come back into vogue.

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I just hope they bought in below NAV.