Reddit Posts
RedBall Acquisition Corp. Announces Redemption of Public Shares and Subsequent Dissolution - RBAC RBACW
$RBAC - deal cancelled with Seatgeek but do they have another target lined up already?
BREAKING: @SeatGeek is no longer going public via acquisition. The group had a deal in place with RedBall Acquisition Corp., the SPAC led by Gerry Cardinale and Billy Beane. Two sides say they've mutually agreed to walk away from the deal. $RBAC
Not a short squeeze but what foes everyone think about RBAC?
Any chance Fenway Sports Group tries going public via another SPAC?
🎼🎸 $SEAT: Vivid Seats - Big Profitable Reopening Play That is CRUSHING Numbers 🎤🎶
Not a short but a lotto ticket thats already paying off for me...$RBAC is going to pop in january/february. March 2022 12.5c over here.
$RBAC is going to pop in january/february. March 2022 12.5c over here.
$RBAC - Ticketing Technology Leader SeatGeek to Be Publicly Listed in Business Combination with RedBall Acquisition Corp, valued at $1.35b
RBAC $15k YOLO - 22 days left and just doubled down. Pretty shocking to see options priced this low so obviously I'm wrong or early... trying to get to 2k contracts by eod.
Mentions
I'm not really concerned about what the actual redemption number is as much as why the forward purchase agreement was made two days after the vote. If redemptions were a serious issue, why go to a vote (ie, RBAC/SeatGeek)? If redemptions might have been an issue, and the forward purchase agreement was signed Aug 4th to address the issue, why are there no details on an actual closing/ticker change a week later?
LEAP liquidating scares me. and RBAC. the good spacs are packing up shop. the shitty spacs are taking garbage public still
LEAP dissolving of scary. man good teams are dissolving now. RBAC too
After RBAC liquidation (I had ungodly amounts of warrants), portfolio down from a peak of around $600,000 to now a low of $50,000ish. (Peak was CCIV craze before DA). Entirely SPACs and warrants. Took $250k to $600k to $150k back to $350k and then to $180k and to $50k. What a journey. Guess I remained dumb the entire time.
[RedBall Acquisition Corp. Announces Redemption of Public Shares and Subsequent Dissolution](https://www.globenewswire.com/news-release/2022/07/29/2489011/0/en/RedBall-Acquisition-Corp-Announces-Redemption-of-Public-Shares-and-Subsequent-Dissolution.html) \- RBAC RBACW "The public shares will cease trading as of the close of business on August 16, 2022. As of the close of business on August 17, 2022, the public shares will be deemed cancelled and will represent only the right to receive the redemption amount." "There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless." Cross posted this to the main sub here, flaired as news ... but it doesn't show up (yet?). Sigh. Reddit.
I'm short $CND warrants based on the high likelihood of the merger agreement being terminated. It's a high risk play, therfore it's not a massive short position of mine, but the reward is that if termination occurs, it will drop probably around 90% (see RBAC warrants when deal got terminated). I put the likelihood of termination at 80% (expected by December) and for some reason, termination likelihood is not being priced in to the warrants. See this thread> https://twitter.com/OddDiligence/status/1537437906561667073?t=ltc67kkw88iQ0J8bi79thA&s=19
I might be crazy but I think RBAC night me the most tempting warrants at this price still. kinz and altu still interesting because of timeline but probably a tad more risky. I'm in all of them though
Same… DAs like MTAL, ENPC, and LGTO are giving me some hope though. Even though market hasn’t cared about LGTO I think it’s sleeping on it. People are too scared of a post DA RBAC like situation is going to keep warrants under pressure
at least you can only lose 8 cents. I mean when my RBAC warrants were 80 cents and then went to 8 cents that fucking hurt. But hey 8 cents to 0 will be painless. Almost a welcome release.
I need to re-review this deal as warrants are near a post DA low and were recently as high as $1.7. I think RBAC scared a lot of people. Also noticed GIIX with Footprint is also near a post DA low. Need to review that as well.
I think RBAC is coming up something. Just a hunch. they didn't seek any compensation from SeatGeek for deal termination, so was mutual. if they didn't have something else lined up they liked as much or more, I imagine they would have sought something from SG. and in their last sec filing: "The Company also requests that, in accordance with Rule 457(p) under the Securities Act, all fees paid to the Commission in connection with the filing of the Registration Statement be credited for future use in the name of RedBall Acquisition Corp." which, in my stupid opinion, looks like they are looking to reuse their fees on the next deal they want to announce?
After watching RBAC warrants I’m terrified of some of these. Fortunately didn’t have RBAC
In light of the RBAC/SeatGeek rug pull, is the GSQD/Transfix deal following the same path? Nothing on the S-4 since Feb. 7th.
RBAC was the only pre-merger SPAC I invested in because of those Fenway rumors and made a modest profit after the deal was reported off. Guess who’s back in? Best case I’m part owner of potentially the Italian football champs in AC Milan. Worst case? Another small profit if there’s no deal.
Picked up some RBAC warrants today for an extension bounce. This whole thing is weird but I bet they get an extension vote in before the deadline. AC Milan is a bonus possibility.
Several things might indicate that it is unlikely that RBAC = AC Milan. First, the article attached to that twitter link says: "The transition to new ownership will take place over the summer, with **an expected closing no later than September 2022**." In no SPAC universe does an unannounced multinational deal get SEC filings completed and approved in four months. Next, take a quick look at [RedBird Capital Partners' web pages](https://redbirdcap.com/). [RedBird Capital Partners Companies](https://redbirdcap.com/companies/#member-652-info) "The XFL’s ownership group, led by Dany Garcia, Dwayne Johnson, and Gerry Cardinale's **RedBird Capital Partners** ..." "On 21 July 2020, RedBird Capital Partners acquired an 85% stake in Toulouse FC" "RedBird FC is a European football & analytics platform through which RedBird deploys operating expertise and a data-analytics strategy in partnership with some of the top analytics-focused executives in sport." "Fenway Sports Group (“FSG”) is a global sports, marketing, media, entertainment, and real estate platform anchored by two iconic clubs, the Boston Red Sox and Liverpool Football Club. FSG’s portfolio includes two of the world’s most historic venues, Fenway Park and Anfield Stadium, Fenway Sports Management (“FSM”), Fenway Sports Group Real Estate (“FSGRE”), a 50% stake in NASCAR’s Roush Fenway Racing, and an 80% stake in New England Sports Network. FSM is a global sports marketing and consulting firm that represents FSG’s network of properties and serves as the exclusive marketing agency for LeBron James through a strategic partnership with LRMR Ventures. FSGRE is a private real estate firm that oversees the assets, acquisitions, and development of FSG properties." Perhaps RBAC really will be involved somehow in the AC Milan buyout, but it doesn't appear that RedBall Capital Partners needs them to be involved.
Manchester United is listed on NYSE. Highly doubt RBAC gets AC Milan though.
You asking how a sports team could be considered a business, or at r/SPACs unable to comprehend how a private company could turn into a public company? If it's the first option, under the hood it's the same as any other business, just a different product being peddled. In regards to AC Milan, I doubt it. RBAC already has a couple misses under their belt and the clock is running out. Probably get an extension vote to give false hope, then another PR to say latest potential deal fell through, and then dissolve.
People talking about RBAC and AC Milan - I may be an idiot but how exactly do you take a football club public? Because this doesn’t make sense to me
Boy am I glad I got out of warrants long ago and even at the peak never did more than small position sizes. Feeling for those rugged on RBAC today (I owned that and the warrants for all of a few hours trying to front run the Sportradar co. decision... good times...).
Some on Twitter theorizing it seems odd it was mutual as I think RBAC would be entitled to compensation potentially. And then RedBird today announces AC Milan. Could it be related. Complete gamble tho
I'd like to live in the alternate timeline where RBAC ends up getting that initial rumoured stake of Fenway. Would have happened during the SPAC craze and i'm curious of how it would've played out.
I wonder how much GS pulling out had to do with RBAC cancelling their merger.
They didn't say anything about future plans in either the press release or [the 8-K filing](https://www.sec.gov/Archives/edgar/data/1815184/000119312522164715/d357126d8k.htm). OPA put this line in their [8-K about the Forbes deal termination](https://www.sec.gov/Archives/edgar/data/1843121/000110465922066897/tm2217269d1_8k.htm): "The Company intends to continue to pursue the consummation of a business combination with an appropriate target." Nothing similar from RBAC. "On **August 17, 2020**, [RedBall Acquisition Corp](https://www.sec.gov/Archives/edgar/data/1815184/000119312520223675/d69325d8k.htm). (the “Company”) consummated its initial public offering ... " "[If we are unable to complete](https://www.sec.gov/Archives/edgar/data/1815184/000119312520219274/d892615d424b4.htm) our initial business combination **within 24 months** from the closing of this offering, we will redeem 100% of the public shares ... " So RBAC has about two months and two weeks to either complete an alternate business combination, schedule an extension meeting, or announce a liquidation.
Anyone know if RBAC will stay as a SPAC and try to find a new target or will it dissolve and return capital?
Luckily I sold RBAC a few months back after RCLF fell apart. WTF are these sponsors doing releasing interviews and press releases that the deal is still on and then canceling them at last minute?
There's "last minute" colloquially, and last minute literally. This is the latter. *The RBAC Special Meeting will be held virtually via live webcast on June 1, 2022 at 9:30 a.m. ET*
What's so unusual about RBAC? We've had other deal cancellations announced at the last minute.
I've experienced enough that I've seen it all in SPAC world RBAC - Hold my beer
Do we know if is RBAC liquidating after this deal termination?
and there was even a ticker change message pushed through interactive brokers: 1 : 1 Issue Change: RBAC@NYSE RBAC@NYSE (Name: REDBALL ACQUISITION CORP - A) announced an issue change of 1 : 1, effective 20220603. ISIN: KYG7417R1056 New Symbol: STGK.NEW@NA New Identifier: ISIN: US81256G1058
RBAC Terminated merger agreement due to ‘unfavorable market conditions’ 🪦.
Anyone else holding RBAC commons or warrants into the merger?
SPACs usually fall 2-3 days before vote date because you can't redeem. You have to be a holder of record on or before vote date and that usually takes 2-3 days to settle after you buy. So if you buy 2-3 days before vote date you can't redeem. Spacs tank as soon as NAV floor is removed. Hope I explained this right and answered your question. As for examples: see RBAC
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
RBAC losing it's floor soon, might buy calls when it dips.
RBAC which is set to merge June 1st, the June 10c has over 10k open interest alone. I'm personally looking at September 10c and possibly 15c lottos, they're still fairly cheap. FPAC, this one doesn't have a date yet, but it might get a decent pop on the crypto aspect.
when will we know if $RBAC is a low floater? a few weeks right?
Shouldn’t RBAC warrants tick up some on merger vote date being set? Was hoping for some green this morning but it hasn’t moved…
[RedBall Acquisition Corp. Announces June 1, 2022 Special Meeting Date to Approve Proposed Business Combination with SeatGeek](https://www.globenewswire.com/news-release/2022/05/10/2440307/0/en/RedBall-Acquisition-Corp-Announces-Special-Meeting-Date-to-Approve-Proposed-Business-Combination-with-SeatGeek.html) \- RBAC RBAC.WS
Some buys on RBAC warrants. Any news?
Is RBAC going through or not? I can’t take another fucking termination after LGV, RCLF, and HTPA 😢
Dwayne and Gerry Cardinale bought XFL together. Gerry Cardinale runs RBAC (redball acuisition), they are also investors in the YES Network and On Location Services (partially owned by NFL); so it’s not such a far fetched guess. The hopium is strong with this Powell!!! 😂
Oh, wow, didn’t realize it took RBAC that long.
Probably SEC backlog. RCLF DA'd one month after RBAC and rbac just got it's first s4 through 1 month ago. If nothing in a month then maybe something is up.
14% off of ath, -6% ytd. My main losses came from RBAC and MCMJ 7.50c late in 2021
I forget who but someone on here thought Baupost Group was the hedgefund exiting spacs and warrants. Just saw a 13g on RBAC that they filed that says they have zero shares. Something to keep an eye on as more come in.
If this market keeps improving we really need these post da sponsors and SEC to get their asses in gear and close. Looking at you RBAC and MOTV.
is it a bug/glitch maybe that in interactive brokers it shows RBAC warrants expiring aug 2022? anyone else own them elsewhere and have it say different? because august also doesn't correspond to their IPO month. I would expect it to say May 2025 expiration.
so are warrants typically good for 5 years from when the SPAC IPO's? Or 5 years from when they officially merge/despac? RBAC S1 says this: "The warrants will expire five years after the completion of our initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation." what is extra confusing is RBAC warrants say they expire August 2022. While the rest of mine all say like 2025-2027. Like CRHC says 2025 which would be 5 years after they IPO'd in October 2025. Also, any thought as to whether CRHC will liquidate or vote to extend? Is their deadline coming up in a few months?
I started buying RBAC warrants exactly one year ago. Too bad I can't lock in any long term gains. Maybe someday.
On post da warrants as long as the deal closes are these 1/3 trading at less than $0.70 going to go back to $1+. MOTV, RBAC for example. Warrant valuation confuses the hell out of me cause we have despacs trading at less than $5 with warrants around $1+.
I still feel frozen and don't want to dca or make any moves. This happened to me last summer and I stayed out until dwac sucked me back in. Hoping this last long enough to get some of these reopening da's like RBAC and RCLF to close in this environment.
RBAC was in talks for the Red Sox way back.
Is today the day to consolidate warrants? A little uptick today in $KCGI/WS puts it very close to $RBAC/WS. Pre-DA vs. SeatGeek? I mean, $KCGI could be anything... except SeatGeek....
Ya there's no way it's retail. Its every single warrant on every spac. If it were retail it would only be the popular spacs. It's one of the big hedge funds that participates in all the ipo's blowing up. RBAC units all split and sold last january. Every single sale right now is at a loss and whoever is selling is behaving like a margin call with big block dumps. Very few retail hold more than 10k warrants per position.
I don't know about fpac but RBAC ceo said in interview last week they made a list of spacs they wanted to merge with and Redball was at the very top of the list. He also said they expect to merge in feb/march.
Ya right now there is no one selling RBAC warrants for a profit. The unit arbs all exited last year in January. This is the lowest they have ever been. I tried forever to get MOTV warrants even after JPOW told everyone rate hikes coming. Now in two weeks they dump 100K a day into any bid.
RBAC warrants are such a steal if the deal is still on
Someone dumped 90k RBAC warrants into extremely low bid. Baffling how they wait till now to do this.
DKNG Post DA beaten down warrants: RBAC, MOTV, RCLF, BRPM Beaten down Despacs that proved they can hang above nav: SEAT, ? Beaten down Pre-Da warrants that have proven to pop on rumors: SVFA, IPOD, IPOF I started positions in some of these too early in January but am still willing to DCA.
FWIW, RBAC filed Amendment #2 to their S-4 registration statement after market close today. Not the type of thing that would likely happen if the deal were falling through (any time soon). [https://www.sec.gov/Archives/edgar/data/1815184/000119312522014910/d217301ds4a.htm](https://www.sec.gov/Archives/edgar/data/1815184/000119312522014910/d217301ds4a.htm) No preliminary dates for the meeting or record date, though.
RBAC just filed an updated S4 for those worried that it's not on track.
RBAC warrants officially back to where they were before DA
85k RBAC calls expire today. Guess whatever whale was the one doing the majority of the buys didn't know anything. Expected some kind of new big partner announcement. Wonder if they will try to push it up above $10 again.
I don't know about this one in particular but RBAC had interview yesterday where CEO said all was on track for Feb/March close and still today they dumping warrants way below where they were 1 month ago. MOTV filed updated S4 and they still dumping. I think one or more of these spac ipo hedgefunds that probably holds tons of spac warrants is liquidating across the board.
RBAC warrants being dumped like there is no deal. CEO from interview today >Marlena: And could you give us an update on the timeline for SeatGeek’s transaction with RedBall? > >Jack: Yep. We have been working with the SEC on getting our S-4 fully approved and as we’ve said in our materials expect to close sometime in February and March. [https://sec.report/Document/0001193125-22-012583/](https://sec.report/Document/0001193125-22-012583/)
StubHub to direct list at 13b valuation. We get SEAT and RBAC for 1-2b valuations. At the end of the day I still think crap like this is what makes spac attractive. Would much rather get in early on startups trying to disrupt the space with tech, than get in on late stage ipo's and direct listings. https://twitter.com/crystalttc/status/1481745398058438664
RCLF, RBAC, MOTV Rbac is only one with decent sell volume but there are big buyers stepping in at this level. Zero volume on RCLF and MOTV was just small retail sells into bid.
Yea, warrants have been decimated. SEATW at 2.76 I thought was gonna give RBAC warrants some staying power, but nope
RBAC 7.50c finally got a buyer to clear out my position. Had to drop to 2.40 to get movement though, but avg was only 2.50 so not terrible. Good luck to those still in, Im sure RBAC will announce something fantastic now or $SEAT will moon and RBAC follow. I gave it two months though and want more cash for other nav deals.
Moved a lot of stuff around today, SPAC portfolio is basically concentrated in 5 large plays now. 1. SNII commons as a cash park. $10.06 basis (45% of profile) 2. CFVI Commons, selling jan and feb 12.50/15 calls (basis $11.03, closer to $10.50 factoring calls sold so far) (30% of portfolio) 3. DCRNW, $1.43 basis. Holding through merger, (10% of portfolio). 4. RBAC/WS, $1.12 basis (5% of portfolio) 5. SPAQ/WS, $1.06 basis (5% of portfolio) My other 5% is small post DA warrant positions in a handful of deals purchased recently. After a very successful 2020 and 2021 trading spacs, feeling cautiously optimistic to start 2022 despite all the blood. Good luck to all!
I'm half expecting some more bs action from the SEC on spacs the way all post da warrants are selling off. [RBAC.WS](https://RBAC.WS) had 800k volume today most of which was market dumped into low bids. It has dropped from 1.70's down to almost $1 in a couple of weeks.
I'm surprised there was still heavy selling of some post DA warrants on a green day. I thought it was because of margin calls the last week or so. One could not get their hands on [MOTV.WS](https://MOTV.WS) for months after da without hitting the ask 20c above. Now in one week we have heavy selling. RBAC.WS too. Starting to wonder if hedge funds know something in general as these post DA warrants seem to be going back to pre-da levels.
The main reason that ceo's of some recent mergers have said is either they are doing it for the partnerships with the sponsors and what that brings to the table, and/or they are doing it to be public first in their niche. RBAC has said it was doing it to partner with Redbird. RCLF and MOTV said they want to get public fast to be the leader in their niche. Other than that not much reason anymore, imo.
With the way SEAT has held up through this I am thinking of switching my RBAC commons for more warrants since someone keeps dumping.
CND, BRPM, FPAC, SBEA, and RBAC are all top of my list for various reasons
MOTIV, RCLF, RBAC warrants are my bets for 10x over next few years. If any of the deals don't go through then I own pre da warrants from quality sponsors trading near where they were before DA.
Yes please. I still have majority of those RBAC calls.
Can the $SEAT upgrade save my RBAC calls? SEAT has a long way to go up still though after getting crushed from $13.75
No just GGPI. Just checked. IPOF is 60% and RBAC is 75% so it seems to be different for each pre-merge SPAC.
I'll have to take a look at EJFA. Especially if drops anymore. I like TREB but of course I accumulated starting at $1.35 and bought on it's way down to $1.15. Insane price for it's actual valuation and revenue and growth. I was looking at comps and even if it gets gashed on despac down to $7-8 range the warrants should still go for way more. Even TBLA is at least $1.50. I like RBAC at $1.20
What beaten down DA warrants stand the best chance for a nice gain as merge date get set? I like RBAC. Somewhat comparable to SEAT warrants at $3 (ATH $4)
SEAT pipe came effective today and there was no big selloff yet. Think this is positive for RBAC too.
He gets crapped on in this sub for some reason but his investments are what any of us would dream of. He is in the RBAC pipe too.
For those of you who like playing 7.50’s. You can get 3/18 RBAC 7.50s filled at 2.45 right now. I just bought 100, really like the risk/reward here.
Idk much about the fundamentals, but there has been some fishy options flow and stock volume in RBAC.
The jist of it is RBAC is more everything with primary sells being it main focus. So they partner with the rights holders (teams venues etc) and sell their tickets directly. Vivid is secondary ticket resell. Vivid is profitable now, but RBAC is more in investment/partner stage which is a big part of why they went with Redball.
Looking into RBAC and Vivid Seats. Can someone with insights tell me which one is better and why?
There's no way those RBAC market makers actually own that many shares to sell right below nav all week. Shit is so rigged.
RBAC 0.01 over nav, gonna break out the spicey ramen tonight
Will RBAC close at $9.99 or $10.00? Follow the exciting action live right now.
My highest conviction NAV spacs that I think could actually move above NAV *before* merger (haven't seen a lot of this happening lately). Likely catalyst is merger date. RBAC - SeatGeek SEAH - Super Group DCRN - Tritium FTCV - eToro (but only if valuation is changed and the deal doesn't fail) Any others at NAV that may be able to sneak up to 11 or 12?
RBAC higher than IVAN didnt think this day would come, at least I cant lose much more here with my big holdings sub nav... eesh
RBAC - announced its Q3 2021 financial results, including record net revenue and gross profits for a single quarter. Good thing we have nav protection otherwise we would drop 50%.
Yeah that would be a nothingburger. Look at RBAC for example, if it’s above 10 in January over 10% of the float will be ITM.