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r/SPACsSee Post

PCPC/WS - The best deal in the SPAC warrant market right now.

r/SPACsSee Post

2nd Quarter 10-Q's

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r/SPACsSee Comment

I hate these sponsors who announce extension and then liquidate and hope they get investigated. They could be dumping warrants on the buying demand created by extension filings. I got burned on PCPC and SRSA which announced they would extend and then changed their minds. If you are going to screw warrant investors, make up your minds before you file.

Mentions:#PCPC#SRSA
r/SPACsSee Comment

PCPC dead.

Mentions:#PCPC
r/SPACsSee Comment

PCPC-WT down to $0.06 -- wonder if they will extend or dissolve

Mentions:#PCPC
r/SPACsSee Comment

Any DA is better than none with this warrant beat down. PCPC next please!

Mentions:#PCPC
r/SPACsSee Comment

Wow. I haven't looked at warrants much at all lately. I remember being pretty excited when I could buy PCPC-WT for <$2.

Mentions:#PCPC
r/SPACsSee Comment

PCPC-WT below .60 and to think I was happy with my $1.89 CB. I'm buying CPAR.U, CVII.U and more PCPC-WT tomorrow.

r/SPACsSee Comment

Sure. But let's not forget they announced deal when IPOs at crazy valuations were still happening and the Solar bubble still hadn't busted completely. Right now valuations are dropping across the board and in private markets as well. So you're gonna end up with a much better valuation on deals made right now than if they were made last year. Also Altus seems like a good company and should be a good hold for the next 5 years. Warrants are still at $1.30 which means warrants are pricing in appreciation over next few years. And again that speaks to my point where I've mentioned even if the stock holds $15-20, these warrants could be Multi-Baggers from these levels. (Altus is at $6.89 with warrants at $1.32. Adjusting that to PCPC structure it would give you $17.22 and $3.3 respectively).

Mentions:#PCPC
r/SPACsSee Comment

Sure. But let's not forget they announced deal when IPOs at crazy valuations were still happening and the Solar bubble still hadn't busted completely. Right now valuations are dropping across the board and in private markets as well. So you're gonna end up with a much better valuation on deals made right now than if they were made last year. Also Altus seems like a good company and should be a good hold for the next 5 years. Warrants are still at $1.30 which means warrants are pricing in appreciation over next few years. And again that speaks to my point where I've mentioned even if the stock holds $15-20, these warrants could be Multi-Baggers from these levels. (Altus is at $6.89 with warrants at $1.32. Adjusting that to PCPC structure it would give you $17.22 and $3.3 respectively).

Mentions:#PCPC
r/SPACsSee Comment

PIPE investors are not gonna care about the stock price per share while investing. They care about the valuation. So I don't understand your point of 5 vs 25. They care about valuation in the end. Raising a PIPE at $5 a share with a $10 SPAC would be the same as raising a PIPE at $12.5 per share with a $25 SPAC. And if that is the case, PCPC warrant gets adjusted downwards. They've a clause in there for that as well. Also there are only 4-5 out there with the CAPS structure. And like I said they 'need' the stock to perform for them to get much incentive out of this. So the due diligence is going to take time. This was mentioned by PCPC CEO in one of his interviews. I don't understand your DPO point as well. DPOs have existed since 1990s. It only got popular after Slack and Spotify used them but yeah they've existed.

Mentions:#PCPC#CAPS
r/SPACsSee Comment

PIPE investors are not gonna care about the stock price per share while investing. They care about valuation. So I don't understand your point of 5 vs 25. They care about valuation in the end. Raising a PIPE at $5 a share with a $10 SPAC would be the same as raising a PIPE at $12.5 per share with a $25 SPAC. Also there are only 4-5 out there with the CAPS structure. And like I said they 'need' the stock to perform for them to get much incentive out of this. So the due diligence is going to take time. This was mentioned by PCPC CEO in one of his interviews. I don't understand your DPO point as well. DPOs have existed since 1990s. It only got popular after Slack and Spotify used them but yeah they've existed.

Mentions:#CAPS#PCPC
r/SPACsSee Comment

As a PCPC warrant bag holder, I support this post!

Mentions:#PCPC
r/SPACsSee Comment

Oooh cyber security... PCPC?

Mentions:#PCPC
r/SPACsSee Comment

Slowly dusting off my cash in warrants, added a little PCPC, HZON, IGAC

r/SPACsSee Comment

Like REVH a lot! PLMI is another 1/5 I like in the same price range. 1/4s I like PCPC (common is 25, not 10), ENPC (both have investor friendlier structures) and I like FACT as well. 1/3s I like ETAC and PIAI, tons of choices at ~.5

r/SPACsSee Comment

PCPC is still priced at the equivalent of .7 If it was a 10$ SPAC, I’m dipping back in to that one and ENPC in the low .7s. Both old ass dogs with CAPS structures that align sponsors better investors than the average SPAC.

r/SPACsSee Comment

ENPC and PCPC ($.7 and \~$.6 respectively) and the teams actually don't suck at all

Mentions:#ENPC#PCPC
r/SPACsSee Comment

PCPC

Mentions:#PCPC
r/SPACsSee Comment

So PCPC warrants at 1.47 are trading at equivalent of 58 cents? Is this a glitch, how can these be so freaking cheap?

Mentions:#PCPC
r/SPACsSee Comment

PCPC 10744 30 day average

Mentions:#PCPC
r/SPACsSee Comment

Sure. Those are my biggest DA positions by far. Smaller positions in CMLTW and IACB.WS. HAAC is my favorite pre-DA, to my detriment (down big on warrants there). Also like [PCPC.WS](https://PCPC.WS) I like TCVA, FWAC, and KVSC commons very much (warrantless SPACs). There are a lot of others that people have mentioned to me that I plan to get positioned in when my current positions hit my target levels; but until then, I'm unwilling to sell and pay taxes on my winners or to sell at a loss on HAACW, which is my big looser, as I think 90 cents is absurdly low. How about yourself?

r/SPACsSee Comment

I'm not as high on pre-DA warrants as I used to be, but I think PCPC/WS is quite undervalued, and I'm considering adding to my position. NAV is $25 and $28.75 warrant exercise price. So the current $1.4 price is equivalent to a $0.56 warrant for a $10 NAV SPAC. Investor-aligned sponsor structure. Warrant ratio is 1:4. Not often talked about, which could be good or bad, depending on your perspective.

Mentions:#PCPC#NAV
r/SPACsSee Comment

I was looking at PCPC too today but decided to wait and see if it goes lower.

Mentions:#PCPC
r/SPACsSee Comment

Yeah it's weird. For something like PCPC that has been holding 1.50 forever, it finally broke through downward today to new ATL. Seems some institutions have been dumping certain warrants for no apparent reason

Mentions:#PCPC
r/SPACsSee Comment

Harvested a phat PCPCW L in my brokerage to grab more PAYO, GENI and SRAD. Still have 1/2 my PCPC bags in my IRA

r/SPACsSee Comment

I really want to look more into biotech SPAC's before the news even starts. I was a noob looking into PCPC then to only findout it was delisting. Really hoping to find some biotech SPAC's soon.

Mentions:#PCPC
r/SPACsSee Comment

Thoughts on PCPC? Very large trust with 25$ NAV. Has been a sleeper.

Mentions:#PCPC#NAV
r/SPACsSee Comment

I absolutely agree. SPACs with DAs and 100% investor aligned vesting: CBAH, GSAH, and HZAC (the last being more like 80-90% performance based + backstopping all redemptions) SPACs without DAs but with investor aligned vesting (75% to 100% performance based): HCAC, REVH, CPAR, NDAC, ENPC, and PCPC.

r/SPACsSee Comment

I'm fully aware that "you can't get a big PIPE as a first step, and go to a small SPAC as a second step to "minimize dilution." Nevertheless, desirable private companies are typically approached by several SPACs. Let's say one SPAC suitor has a $500M trust and the other has a $200M trust and, as I've stressed before, *all else is (roughly) equal.* I don't see why the company wouldn't be able to take that into account and start negotiations with the $200M SPAC instead. &gt;The sponsor gets needs to get compensated because he is outlaying his own risk capital (his own money put into the deal). This is a whole other kettle of fish. But the fact is that certain sponsors agree to performance based promote vesting, like CBAH, HAAC, PCPC, NDAC, etc. All receive only 5% (or less) up front and earn the rest of the promote only if the post-merger share price appreciates.

r/SPACsSee Comment

oh nah cova gets too much volume. gotta be super low like PCPC or FVT i swear this is why GPAC is back up to near a buck though. someone keeps screwing up and hitting market and for some reason it’s stuck two days now

r/SPACsSee Comment

HAAC, FVT, PCPC and PLMI warrants has hurt me the most; in that order.

r/SPACsSee Comment

For whatever reason it’s been on the low end of 1/4 in the U warrant pricing for months. Feels like it should be ~.72-.75 right now just to regain that status. No body seems to like the structure PCPC and ENPC share.

Mentions:#PCPC#ENPC
r/SPACsSee Comment

It's really bizarre to me that PCPC (price/2.5) and ENPC are consistently two of the cheapest low-dilution (1/4 or less) pre-DA warrants in spite of the CAPS incentive structure. PCPC-WT was literally selling for the equivalent of high .50s on a normal warrant, and is still equivalent to .60s.

Mentions:#PCPC#ENPC
r/SPACsSee Comment

Current SPACfolio. None of the commons covered. GENI 22.7% PCPCW 22.3% AVPTW 11.3% CBAHW 10.2% GIIXW 9% TBCPW 5% TBLA 5% HIMS 4.5% CMAX 4% FTCV 3.5% ASTS 2.5% LEAPW .5% KPLT .1% CASH -.5% on Margin Holding bags in everything except GENI and CBAH. Down ~ 9.5% on my current entries, biggest bags are PCPC, AVPT, TBLA, ASTS Way to deep in PCPC lol, will ride that out to DA or start trimming if it ever regains ~ 1.8ish. Hoping GENI runs up into the start of the NFL season and intend to trim about 1/2 my position if it goes above 20. Holding thru 9/8 earnings like a 🤡. Anything trimmed will go into RSI or potentially SEAH depending on when they DESPAC. Sitting tight with pretty much everything else. Will have stink bids open to catch PRE DA warrant knives, and will shift back heavy in that direction if I can get fills for my fave PRE DA Ws under 1 (LEAP, GIIX, PRPB, HERA, FTAA) under .9 (PRPC, FRXB, CVII, CCVI, SPKB) under .8 (PLMI, FVT, NDAC, ASZ)

r/SPACsSee Comment

PCPC warrants cheap as hell now

Mentions:#PCPC
r/SPACsSee Comment

I like you choice of despacs alot. Giix is questionable and i kinda like PCPC i have a good feeling about that one

Mentions:#PCPC
r/SPACsSee Comment

PRE DA W: PCPC 23% GIIX 6 TBCP 5% Post DA W: CBAH 14% Despac W: AVPT 11% Post DA C: FTCV 4% DESPAC C: GENI 21% TBLA 5% CMAX 5% HIMS 4% RSI 4% ASTS 2%

r/SPACsSee Comment

[PCPC.WS](https://PCPC.WS) were on a firesale today. Scooped more at $1.6 (never thought I'd see that price again).

Mentions:#PCPC
r/SPACsSee Comment

Looking at 10-Q's filed today... here's my findings on my positions or watchlist tickers: **CONX** * 1st Quarter: $ 67k * 2nd Quarter: $ 230k * Increase of: $ 163k **HERA** * 1st Quarter: $ 198k * 2nd Quarter: $ 242k * Increase of: $ 44k **PCPC** * 1st Quarter: $ 194k * 2nd Quarter: $ 307k * Increase of: $ 113k

Mentions:#CONX#PCPC
r/SPACsSee Comment

As much as I love PCPC and your other picks, I would recommend diversifying a bit more with your warrants haha CBAH/WS are very attractive at $1.5 and I also like PIAI/WS, OACB, and anything u/CroCra mentioned in this recent, excellent [post](https://www.reddit.com/r/SPACs/comments/p2jytw/how_i_identify_imminent_da_announcements_in_the/).

r/SPACsSee Comment

I’ve been buying so much over the last 2 weeks. Got 25k now lol. Still, gotta have some bids at 1.8x in case that gets a fill. Noticeably more large, for PCPC anyway, volume asks lately

Mentions:#PCPC
r/SPACsSee Comment

PCPC 👍🏻 that’s why they call you big time. Funnily enough, this morning I was actually looking at DCA’ing on it too.

Mentions:#PCPC
r/SPACsSee Comment

Oh wow, I indeed had them mixed up! Thanks for the heads-up, just changed. it Damn, some people probably already bought the wrong SPAC now. Yup I saw that difference between warrants and units too. There's some other sponsors doing the same thing, e.g. CND, ASAX, NDAC. Some even buy shares like LEAP and PCPC. Can't tell if there's a difference between it as of now. But my own preference are deals like FVIV, GIIX and JWSM where the sponsor paid over $2.00 for the warrants.

r/SPACsSee Comment

PCPC mega ask has dropped to 1.93.

Mentions:#PCPC
r/SPACsSee Comment

That my avg on PCPC.W too.

Mentions:#PCPC
r/SPACsSee Comment

PCPC is you can get fills

Mentions:#PCPC
r/SPACsSee Comment

PCPC. Don’t have much in it though.

Mentions:#PCPC
r/SPACsSee Comment

Nice, I like a lot of these too. PCPC doesn't get a lot of buzz but I like the structure and current price.

Mentions:#PCPC
r/SPACsSee Comment

GENI 19.5% @ 14.8 avg. ecstatic CBAHW 12.5% @ 1.25 avg. ecstatic PCPCW 12% @ 2.05. Happy, want more AVPTW 9% @ 2.15. ecstatic PAYOW 9% @ 2.10. Nervous about earnings TBCPW 8% @ .9. Comfortable ENPCW 5% @ .92 Want to sell for PCPC DMYQW 5% @1.3 wishing I sold the pop GPACW 5% @ 1.09 happy Everything else is tiny only standout is ORGNW at 2.1 feeling yikes!

Mentions:#PCPC
r/SPACsSee Comment

Holding tight on what I have (TBCP, ENPC, PCPC, GPAC, VPCB, GSEV, GIIX) only buying more PCPC, GSEV, GIIX even the price is right.

Mentions:#ENPC#PCPC
r/SPACsSee Comment

>So ... your thinking about the TAM the wrong way. 30 B TAM annually at 0.5 B annual revenue = 1.7% capture there is plenty of room for growth where this stock could 10x or 20x even at a $5 B valuation. Thanks for the elaboration / clarification. I guess I'm just accustomed to seeing deals where the company's TAM is higher and/or the valuation is lower. But those companies typically have less current revenue. &#x200B; >Why is the sponsor taking the full promote upfront a bad thing? Two reasons: immediate dilution and incentive misalignment. Taking the full promote does *not* align the sponsor's interests with those of other shareholders (at least not to a significant degree). If the shares trade down to $8 post merger, Dragoneer still makes out quite well if they sell their sponsor shares while other investors take a serious hit. With [CBAH](https://altuspower.com/wp-content/uploads/2021/07/2021.07_Altus-Power-Investor-Presentation_vF.pdf) for example, the SPAC was structured such that CBRE only receives promote shares after the stock has stabilized above $12.5. (This structure or one like it has been used by SPACs like HAAC, Fortress's past SPACs, PCPC, NDAC, and some others.) Moreover, CBRE actually *loses* money to the extent that shares trade down post-merger, as CBRE not only invested in the PIPE but also agreed to backstop $150M worth of redemptions at $10/share.

r/SPACsSee Comment

Obligatory warrant post asking for recommendations. Preferably around $1 or under but ok with others if a good case is given. Mainly looking for Pre DA right now with enough volume to get $3-$5k at a time. May just add to what I have but interested in hearing about others. Currently have: With DA: DCRC GGPI NGCA HCIC SVOK PACX GSAH TPGY Pre DA AMAO COVA DKDC ETAC ESM GPAC GSEV PCPC Post merge: ORGN HLLY SNAX DMS

r/SPACsSee Comment

My top 10 In order NDAC, PCPC, DMYQ, CBAH, TBCP, AVPT, VPCB, ENPC, PAYO, GENI

r/SPACsSee Comment

Hey everyone - I'm not exactly sure how AMAs work. But I feel that this is **an incredibly important question to put to Chamath**: * Why have you *not* made your promote / sponsor shares contingent on your investors' returns (i.e. post-merger share price performance) so that all parties' interests are aligned? The sponsors for several other SPACs (Fortress's previous SPACs, HAAC, CBAH, PCPC, ENPC, YTPG, TWOA, EMPW, LEAP, PCPC and ENPC).

r/SPACsSee Comment

I like PCPC, LUXA, and HAACW. They're not the cheapest in dollar terms but I think they're the best value among pre-DA warrants.

r/SPACsSee Comment

PCPC/WS up on tiny volume

Mentions:#PCPC
r/SPACsSee Comment

Haha, I actually wanted to establish some more positions before I shill my tickers again (still not all funds settled) and the entry prices are getting expensive, but sure: u/thetrny already left a nice comment what to look for in pre-DA SPACs. The only thing I would add is that I also like getting into SPACs which already have their sequel filed (as this is an additional indicator for an imminent announcement). Here are my current favourites: LFTR, CRHC, SPAQ, FVT, FVIV, GPAC, CBAH, HAAC, OACB, ETAC, PRPB, FMAC, CPUH (last two are expensive) But also: GSEV, GIIX; PLMI, AAQC, PCPC, FCAX, COOL and SCOA. I'll let you do some DD regarding the tickers (or you can read some of my past comments).

r/SPACsSee Comment

That totally makes sense. PCPC/WS are still cheap for one.

Mentions:#PCPC
r/SPACsSee Comment

PCPC I will take another look at. <.90 adjusted is in my wheelhouse. Just kinda looked away initially because it is different lol

Mentions:#PCPC
r/SPACsSee Comment

My current warrant plays, Most to fewest. TBCP, ENPC, PCPC, CBAH, VPCB, VIH, AVPT, ORGN, DMYQ, SRNG

r/SPACsSee Comment

I mentioned a few of these pre-DA warrants here just a month ago: [https://www.reddit.com/r/SPACs/comments/nyl2zf/12\_great\_warrants\_10\_preda\_2\_postda\_still\_under\_1/](https://www.reddit.com/r/SPACs/comments/nyl2zf/12_great_warrants_10_preda_2_postda_still_under_1/) ROCR-WT was .97. Now it is 1.70 post DA with Qualtek. NVSAW was .91. Now it is 1.06. LCAH-WT was .86. Now it is 1.35. CLAA-WT was .90. Now it is 1.08. GLBLW was .69. Now it is .80. BOAS-WT was .67. Now it is .91. AGGRW was .78. Now it is .99. DHBC-WT was .73. Now it is .90. DTOC-WT was .78. Now it is .94. PCPC-WT was 1.93 (trades at a 2.5x scale to normal SPACs, so essentially .775 at the time). Now it is 2.18. Note most of the entries above had already appreciated fairly substantially at the time.

Mentions:#PCPC
r/SPACsSee Comment

ENPC is the only sub 1 I’ve bought lately. Everything else I’m following has moved up, pretty much only following the 1/4s and fewer W per unit Spacs to have manageable lists lol. It 1/4 in the U, has a CAPS structure, which is more investor friendly than the average SPAC but they aren’t particularly great terms (5% sponsor shares and 15% unlocked at 10% above nav iirc) initially ipo’d at 25 nav but was amended to 10. Not hard to build a position at .93-.95 lately PCPC is another CAPS, has a 25 nav, I like it more but harder to get fills. Trades at 2.1-2.2 lately which is sub .90 adjusted to the standard 10.

Mentions:#ENPC#PCPC
r/SPACsSee Comment

Most to fewest. TBCP, ENPC, PCPC, CBAH, VPCB, VIH, AVPT, ORGN, DMYQ, SRNG

r/SPACsSee Comment

Currently holding: * AAQC-W. Financial. * ACKI-W. Consumer * AMAO-W. Small *PLMI -WT. Software tech. * DHBC-WT. Finances. * AGGR-WT. Tech. * GLBL-WT. Asia, Middle East * NVSA-WT. Aerospace. * ERES-WT. Energy. * FSNB-WT. Fintech * KWAC-WT. Financial * LFTR-WT. Fintech. * OCA-WT. Tech/Fin/Health * OCAX-W. Asia. * PCPC-WT. Tech/industry * PNTM-WT. Clean Nrg. * BRIV-W. Any. Riley fin. * FPAC-W. Bullish?? * FVT-W. Any. * GGPI-W. Polestar * CRHC.W. * EQD.W * HAAC.W * ZTAQ.U

r/SPACsSee Comment

Wow, even the expensive PCPC warrants are green today.

Mentions:#PCPC
r/SPACsSee Comment

I averaged up Tues morning after seeing that, had my buy orders out since but no dice yet on the additional 5k shares. I agree on the team, original purchase was at $1.04, wish I was heavier then but it was still early on their progression deadline and other plays took priority. I looked at CBAH & PCPC, will look again now. Thanks for the post and good luck to us all!

Mentions:#CBAH#PCPC
r/SPACsSee Comment

Yup, I saw that. A total "Loss from operations" of $1.2M, which is massive. No second SPAC registered, but they already progressed over 40% into the deadline and have a stacked team + great UW/sponsor. Warrants are reasonably priced at $1.20. I'm still liking FVT, CBAH and PCPC (this one still has some time I believe, but it can't hurt to build a position while warrants are cheap)a little bit more, but might also set up a limit order for a small position @$1.15 in the upcoming days.

Mentions:#M#CBAH#PCPC
r/SPACsSee Comment

BWAC $0.89, CPUH $1.21, CND $0.90 and ERES $0.94 were some bargains, but for the others I'm more or less even. The once I've got into a few months ago already announced (I always sell on DA). I believe warrants @$1.00 are still a good deal as of now, even though the sentiment today seems to believe we're heading for another downturn. What I can tell you though is that once my funds settle, I'll buy FVT @$1.30, CBAH @$1.10 and PCP $2.20 (PCPC warrants are special, to determine the real warrants price you need to multiply the current warrant price by 0.4). I'm not 100% set on VYGG yet, as $1.73 seems to be a massive premium but at the same time; they never traded lower than $1.70, even during the "SPACalypse".

r/SPACsSee Comment

I'm pretty spread out across > 100 positions and tend to shop for ones under $1. Mostly just holding for DA or some abnormal pop, but lately mainly adding BGSX (the best team under $1 imo), ADRA (very good team for .70, including the former CEO of Barings), TMKR and BITE (both targeting restaurant chains), LCAA when under $1 (team includes Fmr Apple and Pepsi CEO and Fmr CFO of Bank Of America and Wells Fargo), and PCPC (CAPS incentive structure, warrants at 2.5x normal price because of scaling) and SGAM (Redbox DA).

r/SPACsSee Comment

PSA... Here are **the** ***very best*** **SPACs** that I'm aware of with respect to (1) **SPAC sponsor's track record** as an investor (inside or outside of SPACs) and/or (2) **the structure of the SPAC**, i.e. investor friendly sponsor incentives and low degree of warrant dilution or a complete lack thereof: *Crem-de-la-crem* \- HAAC; LEAP; YTPG; TPGS; AGCB; VYGG; TWOA; FVT; TCVA *Honorable mention -* KVSB; KVSC; DMYQ; CBAH; IACC; NDAC; PCPC

r/SPACsSee Comment

My favorite cheap warrants are **PCPC**, which are currently $2.16. BUT when adjusted to a $10 SPAC (commons are $25 so the warrants are priced higher too like PSTH), they're \~.86 currently: **10/25 (or .4) x 2.15 = .86.** But **CBAH** warrants at $1.1 are perhaps my favorite pre-DAs, given that they have the [SAIL structure](https://www.reddit.com/r/HAAC/comments/lz9xiu/haacs_sail_structure_is_more_important_than_ever/) as well as a [$11 strike price](https://www.renaissancecapital.com/IPO-Center/News/73968/CBREs-SPAC-CBRE-Acquisition-Holdings-prices-$350-million-IPO-at-$10) (so when you factor that in, they're more like $.9 or at least slightly sub $1). Both are 1/4 warrant SPACs, which is in the top 80% of SPACs in terms of low dilution. And even more importantly: they both have structures such that the sponsor's payout / promote is based on the share price performance post-merger. So the incentives to make a good deal are far stronger than the typical SPAC, where the sponsor gets a 20% cut no matter how the stock performs after the merger.

r/SPACsSee Comment

I’m holding HERA, FTAA, CBAH, ENPC, CRHC Should have included PCPC as well.

r/SPACsSee Comment

Anyone know why the PCPC warrant chart looks so weird? What happened?

Mentions:#PCPC
r/SPACsSee Comment

How many were able to get PCPC warrants filled at around $1.89? I got some around $2 but was gone the rest of the day.

Mentions:#PCPC
r/SPACsSee Comment

PCPCW still *seems* fairly safe at these prices, though. Even if we do soon enter into a total-market-crash fantasy featuring the bodies of expired unmerged spacs littering the hillsides, you'd imagine that there will be multiple opportunities to cash out well above $2. That the PCPC team went to the trouble of employing such a convoluted and progressive SPAC format that may indicate some interest in developing an enduring investor-centric brand? I feel particularly drawn to this flavor of SPAC, but I am a bit concerned that they are exploiting some of my aesthetic preferences. In a rapidly-evolving meme stocks era, a savvy team could be incentivized to play to the retail investor's sensibilities in ways that have yet to be tested in these particular market conditions. Has that SPAC-unicorn-behemoth status not been a great asset to PSTH in the retail market, in addition to it's notable technical merits? That promise of value and stability with that intoxicating whiff of the possibility of unparalleled greatness?

Mentions:#PCPC#PSTH
r/SPACsSee Comment

I'm glad to see PCPC is starting to get a lot more attention from people around here. It's an excellent SPAC and the warrants are silly cheap (\~76 cents when adjusted for the $25 common share price. It's especially cheap considering it IPOd in December and a DA could be imminent. (I think the average time from IPO to DA is something like 6 months these days but I could be mistaken.)

Mentions:#PCPC
r/SPACsSee Comment

Given that PCPC is especially investor-friendly, might it make it more likely at all that it will eventually expire sans merger? I did the same thing as you did today, got fills at 2 and then 1.90 during power hour. I've been waiting for an entry point over the past few days but I wonder if maybe commons or units is the wiser-but-more-cumbersome way?

Mentions:#PCPC
r/SPACsSee Comment

What's the deal with $PCPC today?

Mentions:#PCPC
r/SPACsSee Comment

Why are PCPC warrants at $2? Its 1/4 U but why that high pre target?

Mentions:#PCPC
r/SPACsSee Comment

In and out of many of these, and some of my biggest positions as well, others I often have buy orders open. Most expensive to least, will note my biggest positions 1/5 in the u: PRPC, IPVA, FRXB, LGAC, TBCP(13k), IPVF, FCAX (4k),CLAA (4k) 1/4 in the u: PCPC, CONX, OACB, JWSM, CPUH, FTAA, HERA, SCLE, FSRX, FACT, CBAH(4k) VPCB(6k), ENPC (8k) 1/3s I’m not following closely, have CRHC, FPAC, PIPP, TREB Likely not holding until DA, willing to part with all if they run too far.

r/SPACsSee Comment

Hard to get fills so I’ve got about 40% of my port spread across ~ 20 tickers. Definitely buying under 1 3 weeks ago. Tougher to do that now, I am buying some 1.15ish range as well these days. Still a handful of solid ones at/under 1. I hold some ENPC, CBAH, PCPC (25 Nav), VPCB. Trying to get others under 1 but it’s slim pickings.

r/SPACsSee Comment

PCPC warrants with a 100 volume. 😂

Mentions:#PCPC
r/SPACsSee Comment

I've done that before in PCPC warrants myself! hahaha Excellent SPAC sponsor and structure: the best value/risk-reard out there currently in warrant land imo I'd be buying more still at these prices if it weren't for the hard lessons I've learned about spreading one's chips.

Mentions:#PCPC
r/SPACsSee Comment

According to TDA I bought the entire amount of PCPC warrants sold today... all 100 of them! Such a whale /s

Mentions:#TDA#PCPC
r/SPACsSee Comment

so why is PCPC an interesting buy if it has absolutely no volume? i’m being sincere

Mentions:#PCPC
r/SPACsSee Comment

TDA shows PCPC with a volume of 1 share today. Somebody really breaking the bank!

Mentions:#TDA#PCPC
r/SPACsSee Comment

There is a recent post about how incentives are badly needed for sponsors in which PCPC is mentioned. It’s only a few days old if you sort by new posts.

Mentions:#PCPC
r/SPACsSee Comment

Not sure about PCPC but I may be investing in some PCP after today

Mentions:#PCPC
r/SPACsSee Comment

Any one investing/ have insight in PCPC? Seems investor friendly and I'm a little intrigued by the 2.5x NAV.

Mentions:#PCPC#NAV
r/SPACsSee Comment

Great post op, thanks for sharing. I’m in and around a number of these, but a few I haven’t come across. Somehow missed CLAA all together. Planning to open/add to NVSA, PCPC, LCAH this week and trim some of my runners above 1.3 (most likely pipp)

Mentions:#PCPC
r/SPACsSee Comment

PCPC-WTs are an absolute steal; the team is stellar.

Mentions:#PCPC
r/SPACsSee Comment

The ones I think are still good buys at current prices. Most of these IPOd in March and April 2021. PCPC was Dec 2020.

Mentions:#PCPC
r/SPACsSee Comment

Yes, it should all be adjusted to normal SPAC strikes. PCPC is still 2.5x scale.

Mentions:#PCPC
r/SPACsSee Comment

My favorites that haven't run up much yet (all up \~10% since lows) are ENPC - 90 cents PCPC - 80 cents when adjusted to a $10 SPAC (commons are $25 so the warrants are priced higher too like PSTH), CBAH - 96 cents **All are 1/4 warrant SPACs**, which is in the top 80% of SPACs in terms of low dilution. And even more importantly: **all have structures such that the sponsor's payout / promote is based on the share price performance post-merger.** So the incentives to make a good deal are far stronger than the typical SPAC, where the sponsor gets a 20% cut no matter how the stock performs after the merger.

r/SPACsSee Comment

Agreed. I've been collecting warrants for months now (I have 89 positions, mostly pre-DA) and PCPC was one I knew about but never even considered buying because it was "out of my price range" and the $25 base part just slipped my mind. I think I had also been confusing it with PRPC to be honest haha. Pure speculation on my part but I see Periphas Capital's lastest big investment was Shipmonk. That would be an interesting target potentially.

Mentions:#PCPC
r/SPACsSee Comment

You're not thinking about this right. It is the exact same thing as a normal SPAC but with $25 as the baseline per share. The final company will be a lower float company proportionately to the size of each share. When they set the final valuation, the SPAC shares and internal shares will be valued as worth $25 a piece. So going to $8 would be the same as a company valued at $10 a share going to $3.20. Could it happen? Sure, if they get a bad deal, but why would it if they value it correctly at $25 per share? The PCPC-WTs are one of the cheapest 1/4 warrants around with the scaling considered. At last trade of 1.96 (where the ask was parked all day), that makes them equivalent to 0.78 warrants by $10 standards, absolute bottom of the 1/4 dilution split. With the the CAPS incentive structure built in, they should be MORE valuable.

Mentions:#PCPC
r/SPACsSee Comment

I wanted to buy ENPC because of the structure, but I'm staying away because of Paul Ryan. A little because of him in particular but I think I'd stay away from any politician-based SPAC. Thanks for pointing out PCPC, I hadn't noticed that one.

Mentions:#ENPC#PCPC
r/SPACsSee Comment

Sounds good. Let's hope at least one of them announces a deal soon! ENPC IPOd in Sept so that could be very soon. The [team for PCPC](https://periphascapital.com/periphas-team/) is the strongest out of all of them in my opinion -- so that's the one I'm most looking forward to. They're all excellent, though. Hence why they have 1/4 warrant coverage on their very first SPACs, which Chamath wasn't able to get until his fourth SPAC, IPOE.

r/SPACsSee Comment

Since the common shares are $25, the warrants have a higher intrinsic value ([see ENPC warrant split](https://www.businesswire.com/news/home/20210312005502/en/Executive-Network-Partnering-Corporation-Announces-Dates-for-Proposed-Stock-Split-and-Warrant-Amendment)). Each PCPC warrant is equivalent to 2.5 warrants for a $10 SPAC. So if PCPC were to split their common shares 2.5:1 like ENPC did (to make the common shares $10), the value of PCPC warrants at yesterday's close of $1.86 would be $.74 In short, you **multiple the price of PCPC warrants by .4 to get the equivalent value for a conventional $10 SPAC**

Mentions:#ENPC#PCPC
r/SPACsSee Comment

PCPC is by far the best for cheap warrants. Divide by 2.5

Mentions:#PCPC
r/SPACsSee Comment

PCPC seems huge and weird. Anyone here looked it much before?

Mentions:#PCPC