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SPACs - Be greedy when others think you're completely out of your mind
APSG (Vote May 25) - American Express Global Business Travel Reports Q1 2022 Financial Results and Raises Guidance
APSG Target - AmEx Global Business Travel Investor Day
Fundamentals of TVAC, APSG and BOAS de-spac targets
$APSG/American Express Global Business Travel: Blue chip branded industry leader at a rock bottom discount
$APSG - AmEx Global Business Travel Nears $5.3 Billion Merger With Apollo SPAC
17th May: Solera to acquire Omnitracs+Dealersocket $APSG
($APSG) Apollo SPAC and Vista Halt $15 Billion Merger Talks
Back to Square One: Apollo Strategic Growth Capital (APSG) SPACs $15 Billion Three-Way Deal With Solera | Omnitracs | DealerSocket Halted
Mentions
APSG/GBTG looking excellent. Amex has a 10% stake in the company at $10 per share. It is currently trading at $8.50. Other stakes include 10% stake from Expedia. Huge volume on the warrants a few days after the merger on June 2: https://finance.yahoo.com/quote/GBTG-WT?p=GBTG-WT&ncid=yahooproperties_peoplealso_km0o32z3jzm Seemingly high open interest on the June 10 $10 call: https://www.barchart.com/stocks/quotes/GBTG/options?moneyness=allRows I checked the SEC filings I do not see any clauses that would indicate auto-exercise of warrants. Barely any intra-day volume on the stock now. 70000 volume / 5000000 shares = 1.4% of the float traded in one day. Seems like pretty low volume to me.
Yes, think that most SPAC business combinations need to get HSR ( Hart-Scott-Rodino Antitrust Improvements Act ) approval, since all of them are technically mergers. In most cases, that is just a formality, since the SPAC is just a blank shell with no operating business, and therefore not any antitrust issue. In the case of Tempo, it is combining three separate operating businesses, so there could be antitrust concerns. The ACEV [424B3 prospectus](https://www.sec.gov/Archives/edgar/data/1813658/000110465922046896/tm2130093-14_424b3.htm) says: "On October 27, 2021, ACE and Tempo filed the required forms under the HSR Act with respect to the Business Combination with the Antitrust Division and the FTC and requested early termination." But nowhere in the filing does it say the waiting period expired. Often, but not always, the filing will say when the waiting period expired. For example, in the LCAP/MSPR 424B3: "On November 30, 2021, the Company and MSP filed the required forms under the HSR Act with respect to the Business Combination with the Antitrust Division and the FTC and requested early termination. **The related HSR Act waiting period expired on December 30, 2021**." And the APSG/GBTG 424B3: " the expiration or termination of any applicable waiting period under the HSR Act (**which waiting period expired on January 18, 2022**)" Anyway, just found it interesting that in today's filing, ACEV said that antitrust filings were one of the closing conditions that needed to be completed.
Hoping that TD Waterhouse (I'm in Canada) will change the ticker on APSG to GBTG today... I have some Apollo warrants that I want to sell if there is a further boost... they went up a little yesterday, hoping the trend continues... otherwise it is hold onto them for a longer while... Amex global business travel is a solid business, I just want some cash right now
[APSG -> GBTG on May 31](https://www.businesswire.com/news/home/20220527005323/en/American-Express-Global-Business-Travel-Becomes-Publicly-Traded-Company). Redemptions around 95%, 4.166 million shares left [after redemptions of 77.5 million shares](https://www.sec.gov/Archives/edgar/data/0001820872/000110465922066002/tm2217104d1_8k.htm).
Yea I’m confused about this from the OP as well. There are lots of examples of it tanking after redemption period is done but it hasn’t merged yet… Looks like it’s happening with RBAC too today along with APSG
Shareholder approved APSG business combination with AmEx Global Business Travel. - Begins trading *LOWER* as GBTG on May 27. Fixed it for ya :).
Shareholder approved APSG business combination with AmEx Global Business Travel. - Begins trading on GBTG on May 27.
Shareholder approved APSG business combination with AmEx Global Business Travel. - Begins trading on GBTG on May 27.
Probably, the plan is to scoop calls if it drops to 6 - 8, then wait for the mean reversion as people pile in for the redemption numbers given that this stock has not been above $10 at all. It's a short term play similar to the low-float ones like OTRA/CMRA and APSG.
>Is APSG a bear trap? It's not. Shares usually drop before merger. But it's only a temporary dip, my prediction is that APSG will drop down to $8-7, but then quickly recover, up to $20/share. Remember my comment, you can return back in one-two weeks just to find out I was right.
Is APSG a bear trap? I see no reason why it would lose over a quarter of it's value before merger is even voted on. The target company doesn't seem that bad either.
APSG went down today to $7.50 with merger date set for tomorrow despite its target American Express Travel being a solid revenue making Co. and valued just 3x revenues of 2022.
HYAC is not a total turd and since it is not spoken a lot on this sub like APSG it will moon at least once
July APSG 7.5c seem interesting in case a rebound happens picked up a couple.
Looking at APSG .. ouch. Glad I held off from buying any, despite my interest. I guess the merger meeting must be coming up in the next few days? I had a look at their sec reports but couldn't find a date for this. Does anyone know where it's written? Getting concerned I'll miss the meeting date for ACTD.
Nasty APSG Anyone interested or too expensive? AMEX GBT Q1 REVENUE ROSE 179 PERCENT TO $350 MILLION AMEX GBT SEES FY 2022 REVENUE OF ABOUT $1.75 BILLION AMEX GBT SEES FY 2023 REVENUE $2.4 BILLION AMERICAN EXPRESS GLOBAL BUSINESS TRAVEL REPORTS Q1 2022 FINANCIAL RESULTS AND RAISES GUIDANCE
Seriously confused about APSG dying today. Merger meeting tomorrow should have brought some positive action, or at least it would have back in the day. This is wild to watch.
APSG merger vote is tomorrow. Just listened to the Marriott CEO on CNBC at Davos Conference. Business travel exploding and their home and villa platform has grown from 6000 to over 60,000 units since the pandemic. Business travel is back and paying higher rates than pre-pandemic.
APSG is one of the few “grown up” companies to go public through SPAC. Airlines and travel is rebounding huge but no one told APSG stock yet.
Interesting names here. Personally, I just don't see how the scooters come through from BRDS just given that I think it was a fad. That said, I think other ones you mentioned such as APSG and BARK have a ton of growth potential and you've laid out the case for each fairly well. Thank you for posting!
Very excited about this one. Even though I have a small position in APSG warrants \~1,000.
APSG [merger vote date set](https://www.sec.gov/Archives/edgar/data/1820872/000110465922056417/tm2135372-17_s4a.htm) for May 25.
Strength of APSG warrants....oof. it's mightier than ACTD
ACTD/Opal Fuels might do something, I think APSG/Amex Travel has started too.
Most investing subs have a blanket ban on SPACs 😞...... I am just hoping we get some true SPAC gains APSG and ACTD
Been holding APSG for half a year and made whopping 0.46% profits. I hope the other half will be better
I like APSG. Was going to reenter warrants at some point but they’ve run up a bit so now uncertain.
APSG I think is a solid one. gotta figure out how/when i want to enter again
First day in a while, no OnlyFans hopium on the board; maybe they finally realized it will not happen - reminds me of the PSAH, MVST, IPO\*\*\*\* hype days - no fountain, just speculation. I am surprised no one is talking about APSG with all the travel related stock booming - APSG has the perfect target and good financials.
I like APSG. Was hoping to get back in before the warrants headed back up after they (along with the rest of SPACland) dropped.
Added some more APSG today. This and ACTD warrants are my biggest pre-merge SPAC bets right now…only two DAs that stood out to me in the downturn
Hugs warrants in shambles lol. Sold out of APSG warrants at even. I am thinking after AMAO CLBT and GGR swings I may go all in on this and ACTD
Anyone in APSG? Volume has been pretty good past couple of trading days as it inches up
Is Amex still going with APSG? There was some action on the April calls today
APSG is probably in the same camp as PRPB and CRHC.
Currently my favs are ACEVW, APSG+, GSQD+, OUSWX, and EJFA+. Keeping my cost basis very very low. PROCW has good risk/reward with earnings coming soon. BMTX+ has held up well, but earnings are coming up soon which will be a binary event. I don't like binary events. MEKA too, but no warrants.
My resident great blue heron flew in today for the spring/summer, but once again, they botched their travel arrangements by encountering a frozen pond. 😕 APSG / AmEx Global Business Travel is leaving so much money on the table with their narrow-minded human only customer policy. Dumb boomers, payment via koi fish can be quite lucrative.
With APSG could this be like the last pump where warrants ran and good space like sldp ggpi commons ran later??? Exited for profit and immediately felt that it will go to 2+ lol
Should have added a ton of NIO under 20 and just sold CCs on it. That part has been going good. Sold SoFi CSPs and NIO CCs today. Lets make that 300 to lose a grand on a cancelled deal. FML. Decided to start liquidating some of my pre DA warrant holds and really torn about it. I think I will exit PPGHW / ACTDW / HUGS+ and APSG+. Also trying to exit KPLTW after seeing what happened to AFRM.
Anybody else in APSG? Any idea when the special meeting will be?
APSG is Amex Global Business Travel. AGCB and MSDA are the other two SPACs mentioned here.
I am holding HUGS APSG ACTD PPGH KPLT CLBT BWAC AMPS and SPAQ warrants right now. Down a lot on these and anyone who did not pick these in the last 2 days will be down a lot anyhow. Some of these should do well.
I wonder if you were to just buy an hold all the boomer warrants that are trading under 1.5 what returns would look like in a year. CRHC, APSG, MIR, AMPS, TBLA and maybe prpb
I look but if I do not understand market / moat / can I see the "winner" - I avoid them. Perfect examples were all the Lidar players - who is going to win - it is coin-flip. or BFLY (a one-device medical device company versus the entrenched players - was ripe for losing money). Currently only holding one SPAC - APSG. and one deSpac - MVST (Average price - $6/share)
>*Most have lost a substantial percentage in comparison to their pre-DA prices, or traded even.* I doubt there's a single person here who doesn't know that, everyone here knows the SPAC warrant market has been crushed, but you're replying to a question that wasn't asked. The question was about DROPPING on DA announcement instead of getting a pop, even a very small one. And the reality the recent deals of the last month have been total crap. I can only think of maybe 3 that werent complete garbage, though YOMV (PRPB, APSG, IMPX).
Correct on APSG. I excluded SV since it is at $1, not >$1. Both were part of the 66 cent stat though.
APSG and SV are also over $1. And you could maybe include IMPX too as it got over $1 on DA (and it closed at $1 on Friday).
Some warrants like APSG and SPAQ are now down to new lows with some volume as well. With the NAV floor intact - I believe it gives warrants for solid companies some good support. APSG is too far from de-SPACing so the risk is time right now.
$SPCX (actively managed spac ETF) fell to the $27 range. Even in the SPACopalypse of February and March of last year it stayed above $28. Currently trading sub-NAV. They have 124 holdings and among their top holdings are current and past favorites of the sub. AACQ, CRHC, PRPB, AVAN, APSG. It may be useful to add it to your watchlist list to gauge the overall SPAC market sentiment.
Hoping for a 5-10% jump before merger and i'm out. Not sure it is a good idea to hold APSG through merger.
I'm sure no one can really answer this but APSG - do we expect it to fall after the merger is complete? I see SABR up 2-3% today and travel in general is all up on the hopes that this is going endemic. Hard to know when to get in.
Someone want to get APSG back up to $1.18? Getting annoyed with these warrant drops.
Any thoughts on APSG? It's in my watchlist and I assume stuck in neutral until it completes? I'd like to add some eventually as a business travel rebound play.
[Leclanché E-Mobility launched: the company announces a spin-off for transport batteries](https://www.sustainable-bus.com/news/leclanche-e-mobility-spin-off/) "The Swiss company has also confirmed that it has signed a mutually exclusive letter of intent with a U.S.-listed Special Purpose Acquisition Company (SPAC) for merging with Leclanché E-Mobility S.A." PNTM? Would explain the $3m in expenses as spin-offs are complex (much like IMPX + APSG which both had $3m+ expenses and were spin-offs) and they are targeting European companies. Otherwise, AVAN or BTAQ are my next choices (I hold a position in all of these)
Hahaha Only hit DAs on APSG and IMPX but bought like 10+ in november, just gave me a headache. Took some small losses getting out of the rest and even profits in the case of crhc, cpuh and haac. Would be wise to add them all back at these prices Any in particular you think I should look at?
ACTD, PPGH APSG all below $10 and have targets. I like IMPX too but it's currently just above $10.
Curious as well, APSG was the only one sitting as a SPAC I could think of currently that is probably a leader
Exactly my point, and they both got pretty good DA's that involved more expenses than a normal deal.. both carvouts / spinoffs from huge companies right? However, the deal terms weren't as good going into the DA in my opinion, and IMPX isn't as large a deal due to being about 1/2 the size of PNTM. APSG didn't even choose their deal very well imo -- the target options of PNTM are much better for growth.
APSG (AMEX Travel) and IMPX (LiveWire) both had around $3m in expenses last quarter
APSG calls are cheap as hell. But I'm not super excited about the target during covid.
Yes, they had over $3m last quarter. So did $APSG and $IMPX which have announced solid DA's. See my comment history for some more examples of SPACS with high expenses which have yet to DA but could be close
1. I realized I'm terrible at choosing SPACs on my own. 2. He's a SPAC god. 3. I still researched his picks and just agree with him. But have weighted them based on conviction. I've also added GGPI and APSG myself, both of which he is not in.
APSG and RAM look like sleeping monsters
As promised, here's my updated list: [SPAC Bingo](https://imgur.com/a/6yeh11k) Green = DA announced Grey = Freshly added to the "Bingo card" So far the ranking has been decent: * 3 DA's announced while I ranked them #1 (great) * 2 DA's announced while I ranked them #3 (decent) ​ Interesting observations on some picks: **HERA** \- Amended Q-10 report. This was the indicator for APSG, IMPX and PRPB to shortly after announce their DA. \- Deadline approaching 30%, but Betsy is known to be a fast-mover \- Successor SPAC already trading \- Expenses increased from 240K to 457k. This is well above average ​ **PNTM** \- Their Q-10 report of Q3 showed expenses of $3,100,000! Either a potential deal fell through or they're very close. \- Deadline \~46% \- 9 months ago [the sponsor mentioned](https://www.reddit.com/r/SPACs/comments/mhggsd/pontem_nysepntm_a_new_yorkbased_spac_is_working/) that they're working through a list of about 30 companies. So far, they had a lot of time to do their due diligence. ​ **LFTR (58%) / VYGG (60%) / LEAP (63%)** \- 3 of the oldest SPACs which are still looking for a target \- LFTR has been piling up consistently on expenses: Q1 1M (!) => Q2 $667K => Q3 $720K It's a long shot, but what if LFTR actually announces a deal with [Crypto.com](https://Crypto.com) ? ​ That's all for today folks, Pre-DA Oracle out!
Ok, which one of you got the $0.01 stink bid out on APSG commons! 😂
Bring on the DA's! I added to my position in $IMPX warrants at 0.79. Similar to $PNTM, they spent $3m this past quarter, targeting European companies, had decent volume in warrants recently. They also amended their 10Q quarterly report on Friday to address a change in reporting liabilities which has been an indicator of some sort on 2 recent DA's ($PRPB & $APSG) https://twitter.com/SPACspin/status/1469406437340336135?t=tBqjnLyL8viJ8XkMsZkbOw&s=19
Could Apollo have another deal lined up? APSG had $1.5mill in expenses last Q and just filed their revised 10k for the ASC480. But they haven’t IPOd their 3rd yet so maybe not.
> Any expert thoughts on this play before I drop serious cash into it? Disclaimer: I'm not an expert. This SPAC looks really interesting to me and I'm tempted to invest some money. However I'm afraid that the landscape for SPACs is not favorable. Just look at $ADEX: they are bringing one of the most profitable miners to the stock market (cost-basis to produce a Bitcoin of just $6k) and the stock has not moved on the news. Or look at $APSG: they are bringing the "American Express" company and the stock is also flat. For this to move on the news they would have to pick a really good target.. something like crypto.com or kraken exchange or any other very well known and respected company. Which companies do you speculate they could try to merge with?
From the APSG S-1 > Our sponsor has committed, pursuant to a written agreement, to purchase from us an aggregate of 11,333,334 (or 12,833,334 if the underwriters’ over-allotment option is exercised in full) private placement warrants at $1.50 per warrant... So although ultimately I don't think $1.50 is a bad price, if I were to play the odds, could probably get them at a better price and catch them on the way down. This helps me to ease FOMO. Still a ways to go.
APSG looks like a good one but I dont see any reason to buy shares or warrants now.
If you haven't seen [APSG](https://www.reddit.com/r/SPACs/comments/rb11yj/apsgamerican_express_global_business_travel_blue/) post on the front page, u/devilmaskraskal's DD is worth a look. I like ASPG, too. It meets my notions of the network effect with the high quality team-Apollo, and I think it is a good example of a strong comeback for a beat down travel play. Recently read Mariacristina Piva and some Milanese university research authors about travel and economic output. Then, saw her mentioned in this week's Economist magazine (kind of exciting!). I was using her research to justify expenditures at the state level for essential travel. Her thesis: Cutting business travel in half is as bad for a country's productivity as as cutting R and D by a quarter. Interesting. Unseen damage to innovation. Business travel will never go away as the quants prove it leads to better financial results and greater innovation. China's travel restrictions and quarantines are estimated to have cut quarterly output by circa 3%. Those ASPG warrants look like a good long hold for me. Hope everyone is doing great! Congrats to DCRC holders, nice outcome!
CBAH impressed me today, ACTD impressed as well. APSG just DA'd on a bad day.
APSG should have merged with Trump Airlines. All in-flight video is neutral.
Lol CFVI running and APSG grounded, makes sense honestly
Added SoFi at 15, I think this can bleed more. Actd at 10, added GENI. Had a starter position in PLTR may add more with a stink bid. 40% cash and NAV protection, adding Panera warrants if I get fills at 1.82. sold CND+ great ride from 1.64 to 3+ sold at avg of 2.8 so not bad. Hammered overall. Added APSG+ at 1.30 would have been a glorious day but everything crapped out. CBAH is the goat so far. Betting on SEAH run up to merger with warrants.
Last month I relayed from twitt that APSG had big spending in Q4. I STILL didn’t have a position lol, but I did opt for IMPXW. If it indicated good things for APSG maybe IMPX holders will also be happy soon due to their 3 mill spend last Q. https://www.reddit.com/r/SPACs/comments/qrg9wt/announcements_x_daily_discussion_for_thursday/hkad431/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
I dont have APSG but Im happy to see a SPAC with a large trust get a deal.
Me too! I have a big CRHC warrant position. About a month ago I considered selling half to go 50:50 with APSG but didnt. lol
This APSG deal is really big news even if it doesn't pop much. Probably the best SPAC news I've seen in several months. I'm perplexed it came out on a Friday though, that's odd.
I dont own APSG, but I consider this deal 10x better than GRAB.
$APSG has to be a buy at these levels or am I missing something here?? My fortune 10 company used them for travel booking all their employees
APSG warrants gaining some momentum right now
Do not discount how important this $APSG news may be for the entire SPAC sector. This is a deal for "grown ups" with a serious target. https://twitter.com/AmrithRamkumar/status/1466739922040205321?s=20
APSG is an easy buy at 9.90. Good name recognition and should get CNBC buzz. 😋
Someone just sold some APSG, and rolled it into 500 CHRC warrants. 😂
I have bids on several for Jan - March 10cs. A couple have hit. APSG, HAAC, IGAC, LFTR, CRU, ETAC, IGAC, PRPB, SVfA, XPOA, ZNTE. Only small lottos as could be worthless but we have seen DA spike so they could really payout if they announce DAs. ZNTE is interesting because I think NAV increases to 10.2 or 10.25 when they extend soon. So if you get the 10cs for January they may not end worthless.
Saw someone on Twitter note APSG had a $4mill spend last quarter https://sec.report/Document/0001104659-21-137027/?_gl=1*1ldnkrk*_ga*ZV94VmdHX1lVOE5LMnN1VkI2cDVvSHRTbVZ4eW9KYzg2YlVzVjZ5LXNaOUtUNHRlUERCZWZJTlp6VURnMXlNWA..
New positions (all warrants): IMPX, BOAC, ACII, COVA Increased (all warrants): APSG, AVAN Took a small kplt yesterday, closed a little early. Wish i put on the size I had in august. Also closed cbah-wt position nice 2.3-3.05 return