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New SPAC Strategies. Termination fees, Lawsuits and Other Special Situations
Eleusis to Become Public Company in Merger with Silver Spike Acquisition Corp. II (SPKB)
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Late night liquidation announcement. [Silver Spike Acquisition Corp II Announces Redemption of Class A Ordinary Shares](https://www.globenewswire.com/news-release/2023/03/14/2626274/0/en/Silver-Spike-Acquisition-Corp-II-Announces-Redemption-of-Class-A-Ordinary-Shares.html) \- SPKB SPKBW
[Eleusis and Silver Spike Acquisition Corp. II Mutually Agree to Terminate Business Combination Agreement](https://www.businesswire.com/news/home/20220609006021/en/Eleusis-and-Silver-Spike-Acquisition-Corp.-II-Mutually-Agree-to-Terminate-Business-Combination-Agreement) \- SPKB SPKBW
For any other fellow arb’ers, you can probably get fills right now at $9.71 on SPKB which DA’d Monday.
Yeah, I'm not buying this and was never into SPKB in the first place given their focus. Especially when Silver Spike didn't buy into their own PIPE, and they didn't attract any PIPE in the deal. It's early stage and market is risk-off. Still, thinking very long-term it could be an interesting play. I'd wait til it crashes to $2 post-merger first though haha.
>*Your post was about people generally selling warrants instead of keeping them, with your interpretation being that it was due to SPKB.* No, my post was about people dumping warrants across-the-board due to no DA pops lately, of which SPKB is just another example, but that we shouldn't be surprised there aren't DA pops for crap deals. In terms of "good teams", the disconnect is that I think there are very few good SPAC teams. I've been doing SPACs since 2020 now, and I've actually owned relatively few SPACs during that time as I think most are, frankly, garbage. The job is to sift through the dumpster for the gems.
Your post was about people generally selling warrants instead of keeping them, with your interpretation being that it was due to SPKB. If warrants dont get a pop, or a 5%-10% pop on a DA (that might not come) and will fade within days, what exactly is the point of keeping warrants? For having that 5% chance of hitting the right SPAC that will actually make money? That's a really stupid gamble. I'd be surprised if warrants fade a lot lower than 0.5 or 0.4 unless liquidation deadline comes, but if they have no pop there's hardly any point keeping them. Sure you might hit a jackpot, but statistically thats just not likely or worth doing which is why people (imo) sell. And what's your point about deals being crap? Especially if 95% of the deals are crap there is even less incentive to keep warrants. "Good teams" (according to this sub) have not at all been a guarantee for succesful price action.
The few deals we've had lately are TERRIBLE, so of course the warrants are dropping on DA. People look at SPKB and say, *"oh my god, the warrants went down on DA", I need to sell all my warrants!* " When in reality someone just flipping SPAC'd a clinical biotech company that hasnt even BEGAN Phase I testing yet, which is positively astounding to me. Those SPKB warrants should drop.
Interesting target at least. Better than another failed weed target. pretty much all of which have failed (which is why I never bought SPKB in the first place). Psychedelics are the unexplored frontier of medicine and may do a lot of good in a lot of different sectors.
https://www.sec.gov/Archives/edgar/data/0001826435/000114036122002106/ny20002067x2_ex99-2.htm SPKB investor presentation. NFA
SPKB warrants absolutely surging up 7 cents to 0.6999.