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[Anzu Special Acquisition Corp I Stockholders Approve Business Combination with Envoy Medical Corporation](https://www.reddit.com/r/Spacstocks/comments/16tuqs6/anzu_special_acquisition_corp_i_stockholders/) \- ANZU -> COCH ANZUW -> COCHW on October 2, 2023 1,926,480 public shares after redemptions, plus forward purchase agreement shares.
[Anzu Special Acquisition Corp I Stockholders Approve Business Combination with Envoy Medical Corporation](https://www.businesswire.com/news/home/20230927339234/en/Anzu-Special-Acquisition-Corp-I-Stockholders-Approve-Business-Combination-with-Envoy-Medical-Corporation) \- ANZU -> COCH ANZUW -> COCHW expected on October 2, 2023 (?) "Based on the results of the Special Meeting, and subject to the satisfaction or waiver of certain other closing conditions as described in the Proxy Statement, the Business Combination is expected to be consummated on September 29, 2023." "Additionally, the Company announced today that it has cancelled the special meeting of stockholders previously scheduled for September 29, 2023 (the “Extension Meeting”) to, among other things, vote upon a proposal to extend the date by which the Company could complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. The Company determined that the Extension Meeting is no longer necessary since the Business Combination is expected to close prior to September 30, 2023, its current business combination deadline."
Are you following ANZU? Did they announce expected date of closing? Wondering why such a large dump (for a SPAC without rights on date of vote)
[Anzu Special Acquisition Corp I Schedules September 27, 2023 Shareholder Meeting to Vote For Business Combination with Envoy Medical Corporation](https://www.sec.gov/Archives/edgar/data/1840877/000110465923100792/tm2315063-18_424b3.htm) \- ANZU ANZUW
I’m still holding ANZU warrants. They’re trading at 0.04 and had their second S-4 filing yesterday. DA with Envoy Medical. Not the sexiest target but I still think warrants have room to gain once the merger completes (hopefully in q3)
I’m still holding ANZU warrants. They’re trading at 0.04 and had their second S-4 filing yesterday. DA with Envoy Medical. Not the sexiest target but I still think warrants have room to gain once the merger completes (hopefully in q3)
Following the strategy of targeting pre-DA warrants with an LOI and an extension vote/approval, I hit on 6 DA’s in the past 2.5 months or so (CPUH, ANZU, ALTU, OXUS, VHAQ, ATAK). More than I had all of 2021 and 2022 combined. Would’ve been thrilled if you told me that I would have so many DAs to start the year. Unfortunately, most of them have not yielded the returns that I had hoped for… also had one liquidation (NVSA) even with an LOI and extension vote scheduled. Still holding a few pre-DA but don’t think I’ll be adding too many new ones going forward.
$ANZU 🤝✅ Official DA: Envoy Medical (Previously disclosed LOI)
ANZU extension approved til 9/30/23. They have an LOI and released an investor presentation already (which usually doesn’t happen until after DA). In a recent 8k, they also announced that “ANZU and Envoy extended their mutual exclusivity” to work towards the proposed business combination until March 4, 2023” I think we might see a DA for this one very soon. Maybe as soon as this week.
nah but i got rid of GFX and ANZU monday
Me DA. DA Me. Come on. that bullshit ANZU loi doesn’t count spac gods. give me the real thang
wait why altu. i also broke up with ANZU and the dirty gal took a wad of cash from me
screw it i sold my ANZU. being realistic i thought i was going to lose all my money in it so this is a win honestly. same with GFX. some cash is bette than none. coming back from down 98% to 60% loss isn’t nearly as bad haha
CSTA and GPAC just got essentially taken over by another entity. all directors left and both spacs got the same two guys. it’s kinda whacky but i bet DA incoming given the cost of the extension monthly both got extensions and had a big bump yesterday in volume/price but under 10 cents. GPAC dipped a little today but CSTA green again. i also of course have PRPC with chu ate my lost and sold out of CPUH ANZU has an loi and should hopefully DA soon and is at around 5 cents
I’ve been buying ANZU around 0.04 and below. They got an LOI and have an extension vote coming up next week.
took my small profit on IOACWS. added CPUH (what was the deal again for their DA status?), PRPC (come on chu), and debating adding more ANZU cause of their LOI. any thoughts? i feel like at this point we hit most our liquidations
ANZU filing for extension. Has LOI and expecting a DA in Jan/Feb of 2023 per their PRE-14a filing. “Anzu has entered into a letter of intent regarding a business combination with a US-based medical device company that has developed and is in early clinical testing of an implanted device that already received “Breakthrough Device Designation” from the Food and Drug Administration. Anzu currently expects to file definitive agreements in January or February 2023, execute the definitive documents shortly following the Stockholder Meeting and close in the first half of 2023”
ANZU filed an 8-k announcing the addition of two new board members. Might be nothing, but gives me slight hope that they are still working on something instead of liquidating like many others. Expiration is March 2023 and warrants trading below 0.04 if anyone wants to gamble on these.
No idea what kind of business combination targets Anzu Special Acquisition Corp I ( ANZU ANZUW ) might be considering, but the Chief Financial Officer, General Counsel, and Chairman of the Board just resigned, because of a "disagreement with the nature of and approach to potential acquisition candidates the Company was considering in the context of changes in market conditions ([both generally and for special purpose acquisition companies](https://www.sec.gov/Archives/edgar/data/1840877/000110465922086142/tm2222543d1_8k.htm)) and the approaching deadline for completing a business combination; **and their disagreement with the Company’s continued pursuit of a specific business combination transaction**."
ANZU and PNTM team up to take Northvolt public
ANZU with about $1.5m+ expenses in Q1 followed up with drawing another $750k on April first. They are working on something
One I’ve been buying is ANZU lined up FPA in December and then took $1.5m promissory not end of March and used $750k. They have until 2023 still but the pre arrange FPA set up in December is pretty nice
ANZU hit 0.2?!?! #FAAAAAACK (i haven’t check my spacfolio lately cause there’s no point)
ANZU still has until 3-1-2023 and has the FPA/backstop they raised late last year. At $.22 with a year left thats really not too bad. Other things I added today are GHIXw at $.55 as Gores will get deals and that has until January 2024. UTAA at $0.29 - the UTA spac has plenty of connections and is out until September 2023, more DCRD have until February 2023. MTAL has until July of 2023 looking in the metals space and experienced team in that area. Really need to raise my funds but the spacs with closer deadlines I have a hard time selling them for $.1-$.15, so really just need a DA... IGAC, looking at you. Sure they are risky, but there is decent time on most of those.
Ya good point. Guess I was thinking could have been a FPA lined up ahead of time like ANZU.
Ya I needed to review to confirm my memory and it was up to $80m convertible note offering (negotiated with company) and a $40m FPA with 1/6 warrant from the sponsor. So up to $120M and then if they need more it sounded like they need to first ask the Arena Capital partners and Fir Tree Advisors if they wanted to put up to another $120m in. The $120m possible though is a much bigger % of the trust size than PNTM with the ANZU trust at $350m. But you are correct the connections in PNTM is better, but unless its a great deal it appears much of the larger trust will be redeemed. I am guessing PNTM is doing a carve out? Seems like a lot of money they have spent so far.
I thought their fpa was lower.. 100 mil last time I checked but could be wrong They don't have the long lockup agreement, target sector, management connections, or initial trust size of PNTM. I am long ANZU though because spending tells a story for them too. They are working on something. Let's see what it is!
I appreciate your counterpoint. Good discussion. I'm actually long ANZU too, It has a pretty good following elsewhere. The deal doesn't look nearly as strong though as PNTM. Cash is going to be a big deal this year and PNTM is going in with about a billion dollars in cash. It's not going to be a deal to ignore ignore but that's up for debate if if someone doesn't believe that cash matters. The particular management in this situation has unique connections in the European market and the management is more involved than most companies. The CEO actually left his position at a 26 billion dollar a year company now 30 some billion dollars a year in order to pursue other interests which is presumably this. The spending is actually quite unique as well. It has been proven that spending increases of this degree indicate a deal within 1 to 2 quarters. The working capital agreement for an additional 4 Million dollars on top of the 3 million already spent was the nail in the coffin for a deal almost certainly happening. You are right though it could it could fall through but based on statistics they usually don't fall through until after a definitive agreement is already entered and something fails farther down-the-line. It would be a remarkable failure and they would have to be professional failures almost to spend 3 million then get another 4 million and then blow the deal before anything is leaked about the deal. The fpa is unique too. The board member financing the 150 million dollar forward purchasing agreement is actually one of the best achieved fund managers from Morgan Stanley so it is not a bad idea to trust his investment acumen This lock up is extra long and that is one of the features that usually bodes well for a strong valuation, along with the fact that better valuations are going to be coming for all new definitive agreements in all likelihood this year. The company said that they are putting an extra long 3 year lock up as one of the clauses of the deal as a show of confidence in the company and its success for years Nothing is for sure in the market but there are some nice clues about this deal is this deal when investigating it Apologize for any typos this is with voice type I am hopeful for several deals and I think that we are going to get some announcements in these next few weeks that can improve the overall spac market
The spending being high tells you nothing about whether the target is any good or not, or will be valued well or not. Indeed they may have done all that spending only to end up in a dead end if the target backs out. High spending could mean they are doing too much wining and dining on the stockholders' dime. And other SPACs had higher spending too, but nobody's out here pumping ANZU. TEKK had like $2M spending in Q2 and still hasn't announced. "Older" does not mean it's closer to a deal necessarily (some teams announce their target on warrant split day or even before, and CPAR's been around for 10 months so it's not like it's a new SPAC), and all SPAC terms include a lockup period. There is no way to know PNTM will land a target bringing "outsized gains" more so than anyone else. I'm a warrants investor so I'm always looking for outsized gains, and PNTM has long been too expensive for me to buy, and I am not convinced the gains are more likely here than other positions. I'm not sure how one determines a "better team for a successful EBITDA deal." All I know is that CPAR is the most impressive SPAC team on paper - resumes include the former chairman of Microsoft, the former CEO of Pepsi and Frito Lay, the current CEO of Merck, the former CEO of American Express and an endless stream of Fortune 200 board memberships and executive positions. If anyone can land a top unicorn, they have a pretty good shot. Don't get me wrong - PNTM is a good team, and I want them to land the biggest, sexiest target ever even though I don't own it (and I'm not saying CPAR will land a better one). I am rooting for all SPACs to succeed other than the scam ones. When some do well, they make the whole sector look good and everything rises. It's just that as a pre-DA warrants investor I know how low liquidity the market is, how wide spreads are and how easy it is to pump positions on Reddit for easy 20% gains. All it takes is talking some people into hitting asks. So the repeated posts about PNTM, which is nothing particularly special and not particularly cheap, look kinda coordinated. FURUs started pumping PNTM in November with Wayray speculation, then it moved on to Lamborghini and other targets...everyone's just shooting blanks in the dark after having maybe bitten the pump and will probably be let down when they end up with some specialty online retail site in India or something.
ANZU locked in 150m FPA already so that is encouraging
why did you bail on ANZU out of curiosity? I feel like the signs they are close to a DA are way more prevalent that ENPC. Which i mean…do you really expect Paul Ryan Spac to do well?
ANZU already lined up $150mill (I think that’s the right amount) in financing / backstop. I found that interesting for a pre da SPAC so added more.
going into the new year all pre-da warrants KCGI- highest conviction because of sponsor success. QS and WBX we're undeniable winners. PNTM- huge spend, great team. I posted Lambo speculation but plenty of cool targets fir this team ANZU- lower conviction but high spend and cheap enough warrants ENPC - newest position is the biggest wildcard. I like that they were after Triller even though talks fell through over the summer. Hope Paul Ryan uses his connections to nab a social media company with a meme factor.
100 warrant bid up for ANZU warrants at .8001 cents!! big buys loading!
pntm DA before Christmas. ANZU early January. KCGI mid January. that's my prediction.
The ANZU forward purchase agreement, increased spending, plus ever increasing warrant volume makes me think ANZU is coming soon. This is my highest conviction warrant right now. Any other indicators for some others that I can look into, I don't know much about BTAQ and PNTM. You seem to have your ear to the ground with regards to quarterly spending, etc.
No DA's today after a whopping 7 the past 2 days. I guess they feared Powell and the FED. Let's hope it continues tomorrow in full force.. BTAQ, PNTM, ANZU etc.. Bring it on!!
Anybody else ANZU gang, warrant volume seems to be ticking up
i also bought ANZU, got another warrant order i’m hoping will fill
Wanted more ANZU but it’s to high off its ATL for me right now.
$ANZU + $PNTM gang checking in!
LNFA - filed an amended 10k on Friday and had $800k in spend last Q. ANZU gotta think something is in the works with that announcement last week.
Talk about perfect timing.. I just mentioned earlier on about $ANZU warrants being cheap and ripe for a DA.. this just got released, not yet a DA but they seem awfully close to one [Anzu Special Acquisition Corp I Announces Forward Purchase Agreements of Up to $120 Million and Further $120 Million Right of First Offer on Potential Private Placement](https://www.businesswire.com/news/home/20211207006150/en/Anzu-Special-Acquisition-Corp-I-Announces-Forward-Purchase-Agreements-of-Up-to-120-Million-and-Further-120-Million-Right-of-First-Offer-on-Potential-Private-Placement)
Just added some more $ANZU warrants today at $0.71 I've mentioned it before but it has now come back down so thought I'll mention it again. 1/3 warrants split, decent sized trust, last quarter's spend was $3m! Volume has been high recently and they have filed for 2 additional SPACS already. Thanks to SPACHawk on twitter for alerting it today https://twitter.com/SPACHawk/status/1460273933693988864?t=KqN4hKQW5ayywrSG4Y8q9Q&s=19
ANZU warrants up 15% today at 0.79 with heavy volume (still cheap enough if they'll announce soon). Warrants are 1/3 split, searching in the industrial/tech sector, they have another 2 spacs lined up after this and they had $3m expenses in the past quarter I have a position as I'm expecting/hoping for a DA in the near future