Reddit Posts
$BTTX 8-k Filing, need help picking this apart....? Wrinkle Brains???
Let us recite today's daily prayer before the FED meeting...
I just hopped into SWBK at the bottom of the dip. The merge will be finalized this week and this baby will soar. I highly recommend looking into it, reminds me of MCAD/BTTX
To all the people who were telling me I was dumb for thinking BTTX (FORMERLY MCAD) was going to take off. I told you all last week to get in. Look at it now CHEERS :)
$BTTX - FORMER $MCAD started to squeeze in Afterhours, you rly dont wanna miss it, because of high redemption the float is ultra tiny!
$BTTX (previously $MCAD) REDEMPTIONS CORRECTED. MAY BE 91%!!! TINY FLOAT
$BTTX (previously $MCAD) REDEMPTIONS CORRECTED. MAY BE 91%!!! TINY FLOAT
$MCAD will be $BTTX tomorrow. Watch tomorrow through Tuesday for redemption numbers
$MCAD - Redemption info coming any day now. Ticker changes to $BTTX on Friday
I can't believe MCAD is being slept on this much!?
$MCAD High chance this can go like $HLBZ. Entire float is 6.5M with merger meeting tomorrow even if 50% redemptions it can go 25$ easily. With 90% redemptions 50$ easily.
$MCAD High chance for short squeeze. Entire float is 6.5M with merger meeting tomorrow even if 50% redemptions it can go 25$ easily. With 90% redemptions 50$ easily.
$MCAD High chance this can go like $HLBZ. Entire float is 6.5M with merger meeting tomorrow even if 50% redemptions it can go 25$ easily. With 90% redemptions 50$ easily.
Mentions
Not really a rule, I kinda just go off imp vol and historical back testing. I am a daily chart watcher though, it's my job. I usually start thinking of cutting them around 20-25% and watch RSI/MCAD for confirmation.
The spac was Mountain Crest Acquisition Corp II (MCAD), the group that brought playboy public. Don't spread nonsense please.
r/bigbraincapital r/spacs (how I found MCAD/BKKT) r/pennystocks (Some guy posted Elek and it mooned 1500% after 9 days) There are some more but I'm tired and I can't think of any rn
I personally use 2 indicators if I am trading intraday. RSI MCAD These two alone will tell you when to buy or sell based on crossings or the '30/70' trading method a lot of AI algorithms use. Honestly, new traders need to focus on SINGLE options that consistently hit, meaning every 3 months your P&L should be beating the market by a lot. If you can't do that trading options, you shouldn't be worrying about focusing on higher options plays or more advanced strats like running the wheel, etc. I think Credit spreads are a decent space to branch out though once you know how options work etc
Nah not a teenager here. Feel young though. These shorts have been here since MCAD before the ticker change betting from the start that redemption #s would be low and company would be shit. Exact opposite here and company is building a pretty good team with a recent appointee of Thiago Licias de Oliveira, who was head of hr and biz development of J&J medical. Now that the float has been confirmed I think shorts are in a spot. Plus you have a lot of short entries that came back in at the 20 area and 15 area. Strong supply zone in upper $14/15 range.
I've been pushing MCAD/BTTX for a while now. Not jumping on the bandwagon now.
I bought into MCAD at $10 and sold at $20 after it became BTTX. I bought back in this morning praying for some good news on the 8k and WOOOO couldn’t have been much better. Looking forward to tomorrow!
Last time I said idk what to make of it was MCAD which I posted about here but then sold my position before it mooned. I am hoping inverse psychology here 🙏
Looks like a redemption of 84%. "In connection with the MCAD stockholder vote on the Business Combination, MCAD stockholders redeemed an aggregate of 4,826,260 shares of Common Stock." "As previously disclosed on a Current Report on Form 8-K dated January 13, 2021, on January 12, 2021 Mountain Crest Acquisition Corp. II (the “Company”) consummated the IPO of 5,000,000 units (the “Units”). Each Unit consists of one share of common stock, $0.0001 par value (“Common Stock”), and one right (“Right”) to receive one-tenth (1/10) of a share of common stock upon the consummation of an initial business combination. On January 14, 2021, the underwriters exercised the over-allotment option and the Company issued the Over-Allotment Option Units to the underwriters. The total aggregate issuance by the Company of the Over-Allotment Option Units at a price of $10.00 per unit resulted in total gross proceeds of $7,500,000. " Total public shares issued in the IPO and over allotment were 5.75 million. 4,826,260 / 5,750,000 = 0.839 ( \~ 84% ) Remaining public float would be 923,740 shares from the units, plus 575,000 upon conversion of the rights, for a public float of 1,498,740. Around 1.5 million shares. ​ Credit u/SPAC_Time
Looks like a redemption of 84%. "In connection with the MCAD stockholder vote on the Business Combination, **MCAD stockholders redeemed an aggregate of 4,826,260 shares of Common Stock**." "[As previously disclosed on a Current Report](https://www.sec.gov/Archives/edgar/data/1832415/000121390021002928/ea133505-8k_mountaincrest2.htm) on Form 8-K dated January 13, 2021, on January 12, 2021 Mountain Crest Acquisition Corp. II (the “Company”) consummated the IPO of 5,000,000 units (the “Units”). Each Unit consists of one share of common stock, $0.0001 par value (“Common Stock”), and one right (“Right”) to receive one-tenth (1/10) of a share of common stock upon the consummation of an initial business combination. On January 14, 2021, the underwriters exercised the over-allotment option and the Company issued the Over-Allotment Option Units to the underwriters. The total aggregate issuance by the Company of the Over-Allotment Option Units at a price of $10.00 per unit resulted in total gross proceeds of $7,500,000. " Total public shares issued in the IPO and over allotment were 5.75 million. 4,826,260 / 5,750,000 = 0.839 ( \~ 84% ) Remaining public float would be 923,740 shares from the units, plus 575,000 upon conversion of the rights, for a public float of 1,498,740. Around 1.5 million shares.
The redemption of 4,826,260 shares of MCAD common stock by MCAD public shareholders who elected to have their shares redeemed in connection with the Business Combination for an aggregate redemption price of $48.3 million
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: MCAD. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC.
These MCAD kids are something else. Someone file a complaint with the SEC for crossing the deadline
Stop bragging constantly about it you sophomore. People were looking at that play a whole month before you even learned what MCAD was from your discord buddies.
you're welcome for the call on MCAD.
I haven’t claimed any financial gains but just look at the dates of my jspr and BTTX/MCAD posts and make your own assumptions. I don’t post on WSB because I don’t typically play $2b market cap stocks.
When a Spac (MCAD) merges with the accepting company (BTTX) it is known as a deSpac. When the merger occurs, the initial investors vote on either redeeming their Net Asset Value (NAV), typically $10, or carrying that share over into the newly formed stock. It is estimated based on the deal numbers that 91% of initial investors tied to free float decided to take their $10 NAV and run, which would make sense given that voting period happened when MCAD was below NAV. If this is true, that puts the free float at about 1.1M, meaning easy to move. Not sure when the reduction in float actually takes place though. Given this movement, one might think that it already has, but if it doesn’t happen until redemption verified publicly or shortly after, then this thing would fly even further after news. If anyone knows how that works, would love to hear about it
You should be able to sell - when ticker change, my broker told me to sell the new ticker...it will be a negative amt of shares that should match with old ticker example sell 500 BTTX = (500) BTTX which will match with 500 MCAD shares later call your broker if this is the case for you or get your broker to sell them
Yep I bought in when it was still MCAD at around 10.00. This play was the most obvious runner I've ever invested in. I had complete confidence that this thing was going to surge.
It's because of the merger I believe. It was tradable under MCAD on Friday, even though the symbol was changed to BTTX already. Same happened wtih SOAC/TMC previously. It's tradable now.
SEC filing under MCAD ticker [https://www.sec.gov/cgi-bin/browse-edgar?company=&match=&CIK=mcad&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+Companies&action=getcompany](https://www.sec.gov/cgi-bin/browse-edgar?company=&match=&CIK=mcad&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+Companies&action=getcompany) It will take a hit if redemptions are lower than estimated..
I just checked and Ortex reports 456.79K shares of MCAD/BTTX shorted. Given the microscopic float, that's almost 50% SI. This can run pretty hard if there's also a short squeeze.
I'm being forced to diamond hand half of my BTTX shares I bought before Friday that still haven't been converted from MCAD
Yes this is MCAD stock, all your shares were converted to BTTX stock on Friday.
“ Better Therapeutics, Inc., a prescription digital therapeutics (PDT) company delivering cognitive behavioral therapy to address the root causes of cardiometabolic diseases, today announced the completion of its business combination with Mountain Crest Acquisition Corp II (NASDAQ:MCAD, "Mountain Crest II"))), a publicly traded special purpose acquisition corporation or SPAC. The resulting combined company will commence trading its shares on Nasdaq under the ticker symbol "BTTX" on October 29, 2021. “ https://newsfilter.io/articles/better-therapeutics-closes-business-combination-and-debuts-on-nasdaq-0c1fe006d36874b86d57722ebb8065f6
Look up MCAD as well. Was the previous ticket name of the same company. Was changed Friday morning. Nice DD.
I think perhaps you are confusing "public" and "retail". **All** of the rights were "sold to the public". In the case of MCAD: "[As previously disclosed on a Current Report on Form 8-K](https://www.sec.gov/Archives/edgar/data/1832415/000121390021002928/ea133505-8k_mountaincrest2.htm) dated January 13, 2021, on January 12, 2021 Mountain Crest Acquisition Corp. II (the “Company”) consummated the IPO of 5,000,000 units (the “Units”). **Each Unit consists of one share of common stock**, $0.0001 par value (“Common Stock”), **and one right** (“Right”) t**o receive one-tenth (1/10) of a share of common stock upon the consummation of an initial business combination**." "On January 14, 2021, the underwriters exercised the over-allotment option and the Company issued the Over-Allotment Option Units to the underwriters. **The total aggregate issuance by the Company of the Over-Allotment Option Units at a price of $10.00 per unit resulted in total gross proceeds of $7,500,000.** On January 14, 2021, simultaneously with the sale of the Over-Allotment Option Units, the Company consummated the private sale of an additional 15,000 Private Units, generating gross proceeds of $150,000." That adds up to 5.75 million **public** rights that were issued in the IPO. Those rights were sold to hedge funds and institutional investors. Some of those were later sold to retail investors. Those rights **automatically convert** to 575,000 shares of BTTX common stock. There were also 15,000 private rights sold in the private units. **All of the rights convert automatically when the business combination completes**, no one "exercises" the rights. It doesn't matter if the rights are in the portfolio of a retail investor or a hedge fund, they automatically convert; the same way the ticker of the common stock will automatically change from MCAD to BTTX. It is possible a few of the rights will not convert. If, for example, someone has 99 rights in their portfolio, those will convert into 9 shares of common, and the other 9 would be lost. But chances are that will not be a lot of shares.
No units, just commons (MCAD) and Rights (MCADR).
Already loaded up MCAD last week and bought even more today when it hit 8's. That float is minuscule! I'm so ready for next week!
MCAD….oh wait my expectations are so low that i dunno why i even bought. but the one that i don’t will end up making everyone rich aka DWAC
the last sentence is a true but meaningless statement. its much easier for MCAD to rip 400% than AMZN, even though both are **technically** possible
I love how literally 95% of spacs are horseshit, and people get into a floorless play like MCAD before the numbers are out because float will me smaller. Everything has small float if enough buying pressure and volume is there
Wasnt MCAD and plby by the same sponsor? I thought that was the connection
Glad I didn’t fomo into MCAD/BTTX
The irony is the MCAD redemption numbers dont even matter if it simply got enough attention, because the float is lower than most even without redemption. But you really cant tell if this is going to squeeze yet anyway, because the patter is most of these fall to $7.xx - $8.xx on ticker change before the dramatic rise anyway. My guess is this one goes higher.
Yeah. I'm pretty sure it's MCAD to BTTX that is being referred to 🤣
FYI your link is for MCAD. Also I think you mean 'MAQC', not 'MACQ'.
MCAD/BTTX is bringing back ML vibes for me. Price going down while waiting for redemption numbers and if redemption numbers not as high as expected, probably not going to recover. Here’s to hoping redemption numbers are high
$MCAD I'm a bit suspicious of the redemption rate spactrack is stating based on the $70M gross proceeds. For example, spactrack states that 595K Rights will convert into shares. Firstly, it would have to be 5.95M Rights, not 595K, because each 10 Rights converts to 1 share. Secondly, 200K of those Rights (converting into 20K shares) belong to the Sponsor, they were not part of the public float, and the Sponsor is locked according to the SEC file. In addition, the remaining 5.75M Rights (converting into 575K shares) only convert into shares if they have been bought by the public and in sets of 10. For example, if half a million people bought 9 Rights each, then the Rights convert to exactly zero shares. Also, I don't know exactly what the $70M in gross proceeds is including. I'll wait for the SEC file in order to know exactly the number of shares that have been redeemed.
They’re going off the dollar amount that MCAD said it raised. Not sure if their math is right or not.
New to this SPAC game, so this may be a dumb question. Have 942 shares of MCAD in my JP investment app, since its moving to BKKT this mornig will the MCAD shares i own automatically switch over BKKT shares?
Spac Track tweeting an estimate of 65% redemption for MCAD/BTTX
Holding MCAD/BTTX through merger, hoping we get some bad numbers today.
AGC, MCAD, AMC being slept on tough as of late, OPAD
I bought 2000 shares of $MCAD today 'cause I'm all about making Cha•Ching! Maybe it's Revenge Trading but I'm heavily stoked SPACs are finally back in season. GLTA plus Bring It On…(>‿◠)✌
MCAD closed at $10.43 for normal hrs and closed at $10.67 for after hrs. This info is from Google which is most accurate. Yahoo finance shows $10.69 for after hrs. I have no idea how you get $11.54.
Well it changed over. Someone please explain now this works. MCAD closed at $11.54. BTTX is $10.43, yet I have the exact same number of shares. Is this an instant loss? I figured my share quantity would be adjusted to reflect the lower price of BTTX.
I'm not saying I'm happy F_CCIV got banned but I am happy that this likely means that MCAD will moon
Did MCAD announce redemption percentage?
The strong, independent women sacrificing for the rest of this sub to make money! Sharists with DNA and now Fuck_CCIV for MCAD
Our girl /u/Fuck_CCIV sacrifices her account for the pure play... calling it now, MCAD gonna rip.
IDK I just pulled up "her" page bc I was curious about the MCAD 👀 yolo and saw it
I am starting to love the slept on posts the most. BKKT was the same. Was the same shit. Read a few posts, DD looked banana's, but not alot of Posts. Day before the bang I see a little more attention. Then BOOM 50+ next day. I will not miss this one as well and love how low key it is. Also loving this flat day, had one more day for money to settle. Time to load the boat. AGC is the same thing. Some are talking about it, but not alot of people are really paying attention. Same shit with PROG at the very beginning a month back. Posts just like this. We will win. I dont give a fuck. We will fucking win. MCAD, AGC and PROG. Road to retirement starts tomorrow.
What’s the thesis on MCAD? Who are they merging with?
Is it time to get our revenge on r/psth now that they are the dead sub with a tiny bit of hope by spending the weekend shilling our pure play MCAD while calling the tontards bag holders? u/Fuck_CCIV!
Post-DA positions: FTCV, DCRC, GGPI Pre-DA: AGCB, CPUH, HAAC-WT, VYGGW No major despac positions (other than a bit of MCAD and CLBT), would look at KPLT in the 3-4 range for the same trade I made in august.
Wowie! Just went 100k into TSLA, went 100K into MCAD yesterday too according to your post. Thank god we have a true alpha on here like you who can afford to just drop 100K on every single play that comes up. You’re a true hero 🏆🏆🏆🏆🏆🏆🏆🏆🏆
Anyone holding MCAD? The volume is so weirdly low, I mean this is one of the trending SPACs now and it got barely 100,000 volume...?
MCAD hodler here, how long do we have to wait for redemption numbers?
MCAD holders? Plans - wait for redemptions or bail?
Top-voted DD post over the weekend: “Why MCAD only has a float of 2k shares”
MCAD gang, haven't we learned anything from 💰🦁? That said I got in yesterday. Ready for this to drill to the core of the Earth once the redemptions are announced.
I would encourage you to visit [livingo.com](https://livingo.com) to compare and contrast its offerings with MCAD's slide deck. Livongo has had FDA approvals for its products for years.
>MCAD also has the potential to be low-float de-spac scenario. Currently - prior to redemptions being announced there are 5.8m shares. It is a relatively low float, and I noted as much.
TDOC may not, but what about THMA/Pear, which describes itself as a "category creator" for prescription digital theraputics and already has 3 FDA authorized PDTs? If FDA approval is a moat, MCAD is on the wrong side of it. The comparison of those two SPACs would be very interesting. Maybe there is real value here, but I'm not convinced, and will stay on the sidelines. This smells like an attempt to pump a low-float spac to manipulate the price. I realize thats all the rage now, but people should be aware that that is what they are getting into with this.
Imo I would be surprised if a ton of people redeemed. It might have a low enough float anyways for a small jump in the stock price... But I would be surprised to see large #s given the price of MCAD going into the vote.
MCAD 8-k out but no redemption numbers. A very large portion of holders voted. Is that a good or bad thing?
For MCAD/R do I have to do anything with those rights or will my broker just automatically convert them without me having to go to a corporate action and tell them? Schwab must not like rights because they may them difficult to sell. You can’t even click them in the app, you have to go on a desktop and click in a few different spot to even find a sell spot.
You're gonna win this one. Whats your MCAD cost basis?
Nice, MCAD made top 1. Kind of a sleeper tbh. I remember when I got into VIH before it was BKKT, people legit sleep on it until it start running hahaha
MCAD is mostly a redemption play on an already low float stock. People seem to think there may be high redemption figures, leading to an even smaller float. This + attention = hype, any hype will make a low float stock like this move massively, and if people start to fomo, it could go moon. If the above doesn't happen, then I don't remember people being too excited about the target itself, but I may be wrong there.
MCAD: I hadn't noticed, but the virtual meeting that occurred today at 10:00am was live here: [https://www.cstproxy.com/mcacquisitionii/2021/HTML1/default.htm](https://www.cstproxy.com/mcacquisitionii/2021/HTML1/default.htm) You can hear the meeting replay by yourself. The business proposal was approved, but the redemption figures were (obviously) not discussed, so you'll have to wait for the SEC filing.
Just trimmed 1/3 of my IONQ position, not a bad day What is MCAD and why do I buy? Someone explain in 5 mins before market close, be sure to use "moon" or "no moon" so I can make sense of things
Ended up playing MCAD, AGC and MCMJ commons today. Pretty happy ngl.
Do you mean? https://finance.yahoo.com/quote/MCAD
Heya, Can anyone tell me when MCAD is going public? Is the date yet announced? And anyone here BULLISH AF to $AGC as I am ?
Threw in 10 grand at MCAD, good luck to all gents at this casino.
when is MCAD supposed to release redemption numbers? today right? or was it friday?
Hey.. u/Fuck_CCIV would it be possible.. 👉👈 for you to sell your shares of MCAD, so that it can finally take off? Would really appreciate it.
Which emojis do we use for the MCAD numbers wait?
Bought more MCAD with unsettled cash so I can't paper hand this time.
People comparing ML to MCAD 😂 do your own DD but float sizes aren’t even in the same ballpark
For those doing MCAD - imo sell on a pop as you still have a few days before redemption #s are released. Lock in some % gains and then buy back in with the volatility. Sincerely, ML person that should have done this lol
So MCAD just gonna go back to NAV like the merger never happened ?
Holy moly, I watched my account go up by a ton and immediately watched it drop. MCAD is insanely volatile. I don’t know how you meme guys still have healthy hearts
According to the charts MCAD was only under NAV by like 1 cent, will there really be that many redemptions? 1 cent isn't much even for the arbs
The only thing im worried about with MCAD is the fact that u/Fuck_CCIV has a position.. Rumor has it that she disrespected a voodoo shaman and he makes voodoo dolls of all her investments and punishes them
💰🦁 Folks, we never learn do we? More MCAD it is then
I'm in on team MCAD, when are redemption numbers out?
My sell order for MCAD didn't fill at $12. Never put a whole number for your limit kids