NASDAQ:AFIB (Acutus Medical)
NYSE:OSH (Oak Street Health)
NYSE:RKT (Rocket Companies)
NASDAQ:JFK (8i Enterprises Acquisitions Corp) - common shares now available
NYSE:ACND (Ascendant Digital Acquisition Corp.) - common shares now available
NASDAQ:GRCY (Greencity Acquisition Corporation) - common shares now available
NASDAQ:ORSN (Orisun Acquisition Corp.) - common shares now available
Would you mind adding as soon as you can please?
NYSE:CCIV (Churchill Capital Corp IV) - adding again in case of IB delay yesterday
NASDAQ:MLAC (Malacca Straits Acquisition Corp) - adding again in case of IB delay yesterday
@Arron, we also have the following SPAC IPO today;
NASDAQ:KSMT.U (Kismet Acquisition One) - “intends to focus on companies in the telecommunications infrastructure, internet and technology and consumer goods and services sectors operating in Russia”
SPACs are usually listed as a"unit" which includes a share and a warrant, which I understand to be a right to a subsequent share issue.
T212 does not support these units on its platfor (it does not support warrants) and as such we need to wait until the unit is broken into its 2 costituents and the common share and warrant trade separately.
It usually works alright as the warrant is usually separated around 52 days after the IPO (I believe Joey mentioned this ) which tends to be before the target company is announced. Obviously it would be better to buy the combined unit, but in general I have found that its usually okay. Joey and Arron may be able to comment more.
Ah thanks for that. Yeh I see so what happens if you buy at ipo. What happens when it splits… Do you then have separate warrant and shares in your portfolio or does the warrant get converted to shares?
You cannot buy a SPAC with Warrant (“common units” I believe is the term) on T212, hence if the SPAC is a common unit at IPO (which most of them are) then you cannot buy the SPAC at IPO on T212.
You have to wait until the “common shares” trade separately, so that T212 can offer it, which usually takes 52 days.
no i mean what if you buy it at IPO. Then you have the stock and the warrant which allows you to execute in future. what happens when this splits and common stock is listed? Does the investor who bought at ipo then have 2 separate units in their portfolio i assume?
) which tends to be before the target company is announced. Obviously it would be better to buy the combined unit, but in general I have found that its usually okay. Joey and Arron may be able to comment more.