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Keep a close eye on $SLCR today. 1.38m float confirmed. Has options. Will run after initial dip.
Keep a close eye on $SLCR today. 1.38m float confirmed. Has options. Will run after initial dip.
SLCR/ THCH Chinese Tim Hortons Going Public
$SLCR Redemption Reversal Period Confirmed OVER!!! Float likely less than $GETY's 500k!
SLCR, SLCRU, SLCRW Thoughts on Chinese spac ?
$SLCR SilverCrest Merging with Tim Hortons China. The commons and warrants are at ridiculously low valuation. I work overseas in China. Every store I see is packed and brand new. They just signed an agreement with a powerhouse supermarket chain called Metro. US Sino trade is strong.
$SLCR Tim Hortons China - recently signed an exclusive with Chinas top supermarket chain METRO. Business is booming. Commons and warrants are being overlooked.
Mentions
As someone else mentioned it's pretty much impossible. It's at the discretion of the sponsor. They can either do no reversals or pull a $SLCR and do a month long parade of reversal extensions.
Not much help, sorry. Also not an expert, but ***think*** it is the company's option to allow redemptions to be reversed, or not, as long as the company publicly discloses that option. However, that option for the company ***might*** be hidden away in the original IPO prospectus. Silver Crest / Tim Hortons is a good example. In the final [proxy/prospectus](https://www.sec.gov/Archives/edgar/data/1877333/000110465922081408/tm2125996-49_424b3.htm), it stated: "Any request for redemption, once made by a Silver Crest Public Shareholder, may be withdrawn **at any time prior to the time the vote is taken** with respect to the Business Combination Proposal at the extraordinary general meeting. If you tender your share certificates (if any) to Silver Crest’s transfer agent and later **decide prior to the extraordinary general meeting not to elect redemption**, you may request that Silver Crest’s transfer agent return your share certificates (physically or electronically). You may make such request by contacting Silver Crest’s transfer agent at the address listed below." Can't find anything in that proxy about allowing redeeming shareholders to reverse their decision ***after*** the meeting. Then, on August 30, SLCR filed an [8-K report](https://www.sec.gov/Archives/edgar/data/1826553/000110465922095808/tm2224796d2_8k.htm), which had "**Item 8.01. Other Events"** which said**:** "Silver Crest ***has determined*** to allow holders of Silver Crest’s Class A ordinary shares to reverse their election to have their shares of Silver Crest’s Class A ordinary shares redeemed until 5:00 p.m. Eastern Time on September 16, 2022. " However ... In the original [424B4 prospectus](https://www.sec.gov/Archives/edgar/data/1826553/000104746921000109/a2242763z424b4.htm) filed by SLCR for the IPO, it says: "Any request to redeem such shares, once made, may be withdrawn at any time up to two business days prior to the initially scheduled vote on the proposal to approve the business combination, **unless otherwise agreed to by us.**" The VENA original [424B4 prospectus](https://www.sec.gov/Archives/edgar/data/1800392/000121390021007962/f424b42021_venusacq.htm) does not have the "*unless otherwise agreed to by us*" qualifier: "Any request to redeem such shares, once made, may be withdrawn at any time **up to the date set forth in the tender offer materials or the date of the shareholder meeting set forth in our proxy materials**, as applicable. Furthermore, if a holder of a public share delivered its certificate in connection with an election of redemption rights and subsequently decides prior to the applicable date not to elect to exercise such rights, such holder may simply request that the transfer agent return the certificate (physically or electronically)." So it's possible that something like the "unless otherwise agreed to by us" qualifier is ***required*** in the IPO prospectus or business combination proxy to enable the company to decide to allow reverse redemptions.
"If you are a public shareholder and you seek to have your shares redeemed, you must (i) demand, no later than 5:00 p.m., Eastern time on October 19, 2022 (two (2) business days before the Extraordinary General Meeting)" Pretty cut and dry and also not standard as there are other timelines, some even appending something like "or otherwise stated". Reversals are not automatically part of the process, they are allowed only when specific language exists. In the case of $LMAO, they dropped a filing the day prior to the meeting saying that they are going to allow a buyer to buy up redeemed shares if they would like to, therefore reversing the redemption. It isn't always like that and sometimes they straight up (in the case of $SLCR) say that they are extending the meeting to allow people to reverse. If you find reversal language in $VENA feel free to throw it in my face. Otherwise it's not able to be reversed and I'm sticking to that.
No need to be a dick about it. Maybe I wasn't clear that I meant redemptions end today so I will edit that post but: ​ "If you are a public shareholder and you seek to have your shares redeemed, you must (i) demand, no later than 5:00 p.m., Eastern time on October 19, 2022 (two (2) business days before the Extraordinary General Meeting)" ​ Pretty cut and dry and also not standard as there are other timelines, some even appending something like "or otherwise stated". Reversals are not automatically part of the process, they are allowed only when specific language exists. In the case of $LMAO, they dropped a filing the day prior to the meeting saying that they are going to allow a buyer to buy up redeemed shares if they would like to, therefore reversing the redemption. It isn't always like that and sometimes they straight up (in the case of $SLCR) say that they are extending the meeting to allow people to reverse. If you find reversal language in $VENA feel free to throw it in my face. Otherwise it's not able to be reversed and I'm sticking to that.
Also, LMAO doesn’t eliminate the potential for them to allow redemption reversals until the business combination. They could pull an SLCR if they wanted to based on redemption numbers.
For one, its about 480M shares smaller, if the lockup DD is correct. LVWR gang also thought it would be much bigger and SLCR gang thought it would be much smaller. Both numbers are a surprise, but in different directions.
What makes LVWR a better low float play than SLCR?
what’s the thought on the artist formerly known as SLCR? got a 9 average, thinking of bailing at this point cause well…it doesn’t look promising. don’t we usually get some positive movement day of or after lever?
I've been dangling bids for protective puts on THCH (and SLCR before that), they're just too expensive
So is this the same as SLCR?
jesus SLCR aka THCH this has not worked out well for me. anyone else still holding?
OK... I just bid up SLCR (THCH) massively... picked up some for $7.... hah.
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seems more like THCH/SLCR holders are getting dumped on :)
my broker has SLCR worth 0 a share and THCH not listed in my holdings interesting
that’s the new ticker for SLCR?
is a 10x on SLCR that much to ask for? if they can move a chinese ipo why can't they move a chinese spac. EQUALITY
SLCR not moving despite volume is concerning.
Any guesses on SLCR moving forward? I see the borrow fee is shooting up, but still not sure if that actually matters (thought I think enough people think it does to have some effect). Got \~7000 shares and just a handful of 7.5C. Looks like \~4 out of the top 6 1min candles are red, bid/ask spread seems to be closing a bit (and floating down), I'd say not looking amazing. Yet still even (ish) for the day.
I’ve never been more irrationally confident now in this SLCR position. Very small btw. Probably should fade me
Reminder, SLCR ticker change to THIL is tomorrow.
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also nice SLCR…i’m still red though
Exited OPAL debating exit on skin. 10% gains is shit as it will do well. Hoping for earnings bump to at least 13.5. break even on SLCR. Thinking of exit and reentry around 7. Who knows only 2 days left
Opened OPAL position. Eyeing psny here but will wait for a while. Bought back my GENI CCs and now am hoping for a bounce. Selling SoFi 5p back on menu. SLCR have an avg of 7.9 Looking through my past P/L the blunder years and I can't believe I made money on BRPA NRXP.
I don’t feel great holding SLCR calls lol
You got SLCR on your list. Nice! Good luck 👍🏼
Fates smile on SLCR 1.38 million share merger🥹 Thanks China
I’m only gonna say this to you regards once. So whoever gets to see this post, yw. SLCR - Gynah’s Tim Hortons coffee. This has a confirmed float of 1.3million. SPAC about to de SPAC. 95% of SPAC’s are terminating or liquidating. The entire SPAC community will have eyes on her. This has confirmed closing date (29th) per SEC filing. Meaning it’s a GO! It is changing tickers 28th into 29th SLCR -> THCH Think of it like an early access to a Chinese low float IPO. Good luck 🍀
SLCR - the option chain OI is starting to build. 25% of the 1.38 million shares are represented in the 7.5 -12.5 strike range with 10% of the float in the 7.5 strike. With a low float, and additional interest opening up, we could see this rocket and rocket quick.
SLCR -> THIL, confirmed 1.38M float with options, china angle and ticker change on Thursday. Lockup looks tight. I'm hoping for a low float gamma squeeze.
SLCR lockup is airtight. The float will be whatever is left after redemptions (1.4M shares)
Been reading the SLCR/THIL lockup agreement, looks surprisingly simple. If I haven't missed anything then the current THIL shareholders can't sell for six months and the lockup is air tight. > The lock-up period applicable to the THIL Shareholder Locked-Up Shares will be (i) with respect to 100% of the THIL Shareholder Locked-Up Shares, six months from and after the Closing Date, (ii) with respect to 80% of the THIL Shareholder Locked-Up Shares, twelve months from and after the Closing Date and (iii) with respect to 50% of the THIL Shareholder Locked-Up Shares, eighteen months from and after the Closing Date. This applies to earn out shares as well and those need $12.5 and $15 milestones for at least 20 days to payed out in first place. There's probably PIPE as well, but that won't add to the float until the usual S-1 circus is complete a few weeks after closing. So I think the 1.3M float will hold for the next few weeks.
Oh gotcha. Yeah I wouldn’t care about that, I have a small position in SLCR for disclosures but it’ll run or not, nothing to do with whateve OP says lol.
SLCR gang, did you hear any bell??
SLCR just shot through $8, after a couple of big buys came in on the 7.5C
Ban bet - I will name my first born child Tim Horton if SLCR moons at some point within the next month.
Yeah that's what I think too. Also don't forget that the wider market is tanking today. At the end of the day GETY is over, FAZE will soon be over and people will realize this is gonna be the only low float play with options at the moment. SLCR is holding up nicely in the $7's so far. This is good and allows people to load up on options. We might need to be patient and wait until next week for some movement.
so i m seeing mixed messages on SLCR is the float much bigger so this is a dud or not? i don’t have too much tied into this but would rather bail before it gets uglier
>SLCR There was some bad info out there about a bonus pool for un/non-redeemers. I almost got suckered by it.
Well can backfire as well, but at some point options will look cheap for a low float. FAZE, IRNT and many others had similar float sizes as SLCR's 1.2 million.
SLCR about to rip your face off. Low float China despac. COFFEE YEEEEE YEEEEE
Let the panic sellers sell SLCR and let things settle.
>SLCR - did an actual PR come out to state float was under 400K(380K). No, it was in this [8-K filing](https://www.sec.gov/Archives/edgar/data/1826553/000110465922092720/tm2224169d1_8k.htm). "In connection with the Transactions (as defined below), holders of 34,143,739 shares of Silver Crest’s Class A ordinary shares exercised their right to redeem their shares for cash at a redemption price of approximately $10.037 per share, for an aggregate redemption amount of $342,705,333.46." "34,500,000 Class A ordinary shares... [subject to possible redemption](https://www.sec.gov/Archives/edgar/data/1826553/000110465922090066/slcr-20220630x10q.htm)" That put redemptions around 99% and left 356,261 shares. The filing also said: "In addition, **Silver Crest has determined to allow holders of Silver Crest’s Class A ordinary shares to reverse their election to have their shares of Silver Crest’s Class A ordinary shares redeemed until 5:00 p.m. Eastern Time on August 29, 2022.** There can be no assurance, however, that holders will request to change their election to redeem their shares or that the final number of shares redeemed will further decrease."" That was later extended to September 16.
SLCR - did an actual PR come out to state float was under 400K(380K). I tried looking for it but never found it. The only source was from a twitter dude(a mth ago) I found. Was this a guesstimate that everyone took as fact? Now we found out float is 1.3 mill - can't be from the last set of reverse redemptions given it was below $9 for most of the time. The reverse redemptions before that, price was below 10 for most of the time except for 1 or 2 days ...for a hr or 2. Also, in premarket...stock was trading at 7.50 to $8 but somehow a dude was able to sell over 1K shares around 8.88 and went straight back to before 8(the next trade). It was weird. I took some profit yesterday but decided to buy back end of day at a lower price. oh well
1.2M float for SLCR. Probably will drop a lot today.
BREZ is up 0.19% AH, so its someting! Seems to have helped SLCR AH though.
SLCR - and it drops back to normal looks like it allow people to sell their positions when it ran to 9.90
Back in dms warrants right now, starter position. Closed few GENI covered calls. Opened a Dec 5p CSP for 58 to track. SLCR is still game on. I have small portion. Eyeing avptw in low 60s
SLCR no volume anymore. FURUs done loading I guess.
SLCR - just run to 20 already and I will sell come on twitter pumpers do your job - pump it and sell to your followers
Anyone booking SLCR profits today and enter later when furus get bored?
SLCR jumped b/c the dude (I posted about earlier) got email from IR that redemption period is over...which we all know. But the deal might be off - so 10 floor it ran to 9.75 but might continue running since he's pumping it along with the usual dudes https://twitter.com/BKAT23/status/1572952876707635203/photo/1
SLCR news. Email that was shared was that redemption period is over now. Some furus jumping on it.
SLCR - this dude is boasting he has info from IR and will share it during market hours [https://twitter.com/BKAT23/status/1572765863966658564?cxt=HHwWiMC-yY2Oy9MrAAAA](https://twitter.com/BKAT23/status/1572765863966658564?cxt=HHwWiMC-yY2Oy9MrAAAA) He's probably full of it or the email is a standard reply with worthless info who knows
So with every day where SLCR doesn't post news, it should get more and more likely that they gonna cancel the merger? 10% upside from here if that happens, I wouldn't even be mad
Odds SLCR just waives that min cash and closes like nothing ever happened?
Not completely sure since I've never experience a FPC in SPAC land. But from what I was told, the FPC price does not have to be $10...it could be a lot lower + the amt of shares issued (dilution)...don't know if it will wreck the low float play(depends on what is written on contract - lockup). Anyway, they needed only 5 mill or 1.5 mill(forgot exact amt) to complete deal - I assume SLCR is asking Tims to waive that fee...that's why no PR yet.
SLCR - I noticed people think Tim Hortons China is a Chinese company. Tims China is not a Chinese company - It's a JV between Restaurant Brands International(bought Tim Hortons years ago) with head office in Toronto and a private equity firm. https://company.timhortons.ca/ca/en/corporate/news-release.php?id=11066 Since Restaurant Brands Int is a public company - Tims China is indirectly a public company via RBI ownership. SLCR spac just allows retail direct ownership of Tims China instead of owning RBI (which owns Burger King, Tim Hortons, Popeyes...etc...etc) I don't know if the private equity firm that started the JV (Tims China) with RBI is considered foreign ownership - they have offices in New York, Sao Paulo and Shanghai. https://www.cartesiangroup.com/about/ Having said this, I doubt the deal will go through the longer it takes to release the PR. I am assuming they still are trying to get the deal done(due to not enough money - 5 mill or 1.5 mill). Floor comes back if deal is terminated - so 11 or 12% gain from current price.
I want my fucking SLCR filing and I want it today.
Please a filing of SLCR AH that the merger will close and minimum cash requirement was waived and go up 100% AH. How hard is that?
Or sprinkle in some SLCR for funsies 🤔^(probably a bad idea)
Damnit SLCR, please look at IMPX and take notes.
Out of IMPX and already regret it. 10+% is nice though. Onto SLCR which I have higher hopes
SLCR - another day of no filing redemption reversals are done - still ultra low float...may no less than 400K either merge or not merge...just provide some info
SLCR - still holding...might as well see it through anyone else still holding
SLCR never went above their nav after they opened it up for possible reverse redemptions right? hmm
SLCR IMPX and brez options for October. Go go go
SLCR down a bit PM, maybe interesting time to add as no filing happened.
SLCR - wonder if the PR will come out on Monday
What do you think the chances are that SLCR closes the merger, extends again or liquidates?
When are we expecting SLCR and IMPX announcements ? Later today
I will be hoping that SLCR publishes a waiver of minimum funds condition.
well, on to the next plays \-hoping SLCR drops to 8.50 \-will be watching LICN IPO...hopefully it starts low for a climb vs high and drops all day
That's probably more meaningful (although that's also the number I get when I multiple shares short as of the end of last month \* float, so maybe that's not current??). I guess that lending rates vary by broker, and perhaps they loan out shares they have in their possession before going into the open market to borrow. I clearly don't know enough to be speculating on oddballs like SLCR, but I do expect a bump tomorrow. I will certainly be redeeming (and not unredeeming) my original SLCR shares for >$10, so y'all know what's happening with .0001% of the float.
Any news with SLCR? Or just a random dump?
SLCR - gap close to 10 area in the next 2 days...and based on spac history and our luck...get F\*\*k over again on Friday 5pm sounds about right
Eh I’m in KITT and SLCR, but they are probably both bad ideas.
looks like I missed my chance of adding to my SLCR position under $9...unless they have another delay - then I think I could buy at $6... looks like it will go higher each day as Friday comes...only to be rewarded or F-over