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I scraped r/SPACs for the top ticker mentions in the last 24H. Here are the results (Monday April 18, 2022)
Mentions
I was slowly clawing my way out of a hole when I decided GMBT/SWVL warrants looked way too cheap at 70 cents... at one point was down $20k. Now down $15k and hoping they'll recover or rather price find something appropriate in the next couple months and I can get out with $5-10k loss. Volume has been pathetic and manipulating the price down.
There have been a few others lately. [TUGC](https://www.sec.gov/Archives/edgar/data/1847075/000121390022017168/f424b30322_tradeupglobal.htm) [PPGH](https://www.sec.gov/Archives/edgar/data/1886190/000119312522078467/d196077d424b3.htm) [GMBT](https://www.sec.gov/Archives/edgar/data/1875609/000119312522075533/d191504d424b3.htm)
What is this despac, low float, merger day. One ticker to the next things pop. Started with GGR, SST, DRTS, SST, THCA, even dead ISPO had a pop. Only 2 left SWVL (was GMBT) and HLXA (still hasnt ticker changed) which one is next…
Sold out of SWVL (formerly GMBT) at around 10.90 for a decent little profit of just over 10%, so it should rocket today.
interesting GMBT redemption numbers. original public class A float was 27,500,000 shares with underwriter option to purchase 4,125,000. Redemptions were 29,227,806. So presumably the underwriter dumped some of their shares. 92.4% redemption. They had a total backstop though so those redeemed shares are going to someone eventually.
GMBT had 29,227,806 shares redeemed (84.7%).
MOTV/FRGE merger, I can't find the vote date on either spactrack or spachero calendars. am I just r-tarded? and do we know redemption numbers? and if so when were they released? I'm hoping for some similar GMBT/SWVL mega pump action then. If PPGH/gogoro had like 90% redemptions then GMBT might be headed for 99% even though the underlying company is doing great and valuation was fair.
GMBT SWVL continues solid growth. no earnings/revenue rugpull here. and yes I own a ton of warrants. https://www.prnewswire.com/news-releases/swvl-delivers-another-exceptional-set-of-results-beating-estimates-for-the-second-quarter-in-a-row-in-q4-2021-and-again-in-early-q1-2022-301506287.html
Can we get some queen's gambit GMBT SWVL love up in here. 72 cent warrants for a sure thing merger is a bargain. they put together an ironclad backstop on Friday.
[Queen's Gambit Growth Capital Announces Deadline to Withdraw Redemption Requests](https://www.prnewswire.com/news-releases/queens-gambit-growth-capital-announces-deadline-to-withdraw-redemption-requests-301513254.html) All signs are that the GMBT and Swvl merger will go smoothly this week. Vote tomorrow. Shareholders can withdraw redemption requests until tomorrow afternoon. "The parties expect the business combination to close on March 31, 2022, subject to the satisfaction or waiver of customary closing conditions. Upon closing, post-combination Holdings' Class A ordinary shares and warrants are expected to commence trading on Nasdaq, under the symbols "SWVL" and "SWVLW", respectively, on April 1, 2022."
> GMBT warrants at 76 cents. if merger is approved then warrants must go up from here, right? Probably not unless it's another low float situation in which case they might go over $1.
so GMBT votes 3/30 on SWVL. warrants made a big bounce back from ridiculous low of 40 cents a couple weeks ago, but that's been pretty pervasive for warrants right now. GMBT warrants at 76 cents. if merger is approved then warrants must go up from here, right? asking for a bagholder.
Queen's Gambit GMBT GMBTW added up to $525 million commitment from [B. Riley Principal Capital to Backstop Redemptions](https://www.sec.gov/Archives/edgar/data/1836190/000119312522085253/d294515ddefa14a.htm). "Upon the terms and subject to the satisfaction of the conditions set forth in the Purchase Agreement, t**he Company will have the right to sell to B. Riley Principal Capital up to $525 million, less the dollar amount of funds released to the Company on or after the consummation of the Business Combination (net of redemptions)** from the trust fund established by SPAC (such amount less the funds released, the “Total Commitment”), of newly issued shares of the Company’s Class A ordinary shares, par value $0.0001 per share (the “Ordinary Shares”), from time to time during the term of the Purchase Agreement. **For illustrative purposes, if aggregate redemptions are equal to $45 million, and therefore $300 million of funds from the trust are released to the Company, the Total Commitment will be equal to $225 million (i.e., $525 million less $300 million).** The parties to the Purchase Agreement intend to fix the amount of the Total Commitment at or prior to the Closing by amendment to the Purchase Agreement at that time."
GMBT wants to stay under NAV until redemption reversals are off the table
TWNT near $11. GMBT Not sure what it wants to do.
GMBT has bids and price action now as if the deal is off
For those playing along, it appears GMBT lost its floor today.
Probably a dumb question but I have GMBT units, so will the broker automatically split into commons and warrants at merge?
> GMBT Yes, waiting for floor to drop but I assume it will drop either Friday or Monday.
Sold my DAVE puts at 2.20, purchase was 1.25. this thing is odd, it should be at 5-6 but something going on that I don't understand. I have a feeling by expiry it will see 6-7 but I didn't take profit in the past, I just need to do it now. Onto GMBT, PPGH, puts for MVST and LFLY if it goes up a bit. I thought SLDP puts would have printed... no position but why did it not tank post earnings???
Managed to dump ALLG bags at a profit last night AH, hopefully GMBT is next :)
GMBT vote o next week and warrants still trading near $0.40 - 0.50. What's the odds they fail to complete the deal here? Any thoughts my fellow deal junkies
There is a SEC filing on GMBT. Looks like deal is terminated, but not 100% sure. Can somebody help out?