SPAC Help - Closing Positions on GSAH and KCAC

Does anyone e know whats going on with spacs.

Iv got a notice to sell my spac stocks

Read up above - should put things into context :slightly_smiling_face:

Look up :eyes:

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$SPAQ is is a good SPAC?

Is it in the list that David posted above?

Thanks for the clarity @David, appreciated! :raised_hands:

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If any of those announce a LOI before or around the 1st of August, or before they have common stock available, it’ll be entertaining to watch! :see_no_evil:
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I’m currently up pennies on one of mine and down a couple of quid on the other. I’ll let them run until the middle of the week! :rofl:

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This is very worrying to say the least.

I have positions in the following spacs ; fmci , feac, spaq , lca, ccxx , please clarify if these are effected

Some of these positions are in the red by a substantial amount , i invested for the long term want to hold shares post merger ,

Will my losses be refunded come 1 August?

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Thank you for the clarification @PeterA and @David.

All of those SPACs are unaffected as the common class of security is presently already trading for them. As per David’s note further above, the following tickers are affected (note you will also receive an in-app notification if you hold them):

BRILU (which will eventually become BRIL when tradable here)
CPSR
WPF
FUSE
GSAH
KCAC
PANA
PTK

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Thank you for the clarification , much appreciated.

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What do we all say about adding Megalith Financial Acquisition (MFAC) and we’ll let that be the end of it? :thinking::wink:

… Okay it was worth a try @David @PeterA @Martin!

Can’t blame a man for chancing his luck!!

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Thanks for clarifying @David. Do we have an option to transfer our positions to another broker? The SPACs on the list remain on IBKR as units and I’d like to hold my position.

Thanks for any advice.

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Any update on being able to transfer open positions to another broker?

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@martinjbell Unfortunately, we don’t have the ability to facilitate in-specie transfers, be that incoming our outgoing.

Thanks for the update. With regards to closing out our positions, is there anything we need to do in order to process the remuneration of the loss incurred?

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@martinjbell We’ll process all remunerations on Monday.

Everyone has been compensated.

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Seems like the “affected” SPACs are the ones for which T212 was (wrongly?) quoting the unit price, and not the common stock price…
Is this going to be rectified? E.g. KCAC common stock IS trading, why can’t T212 just offer the common stock (like for all the other unaffected SPACs) if the unit is indeed problematic?

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Yes, indeed. KCAC Common Stock will be available for trading today shortly after market open.

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Hi David i don’t appear to have recieved any Compensation for the sale of my kcac share that I sold on the announcement of it being removed from the platform?

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