# SPAC Merger process **URL:** \ **Category:** šŸ“Š Investing\ **Created:** [January 16, 2021, 7:05pm UTC](https://community.trading212.com/t/spac-merger-process/37732 "2021-01-16T19:05:37Z")\ **Posts on this page:** 10\ **Page:** 1
**Author:** ![makod009](https://avatars.discourse-cdn.com/v4/letter/m/f19dbf/32.png) [@makod009](https://community.trading212.com/u/makod009)\ **Post date:** [January 16, 2021, 7:05pm UTC](https://community.trading212.com/t/spac-merger-process/37732/1 "2021-01-16T19:05:37Z")
Hi, I have been studying SPACs for a while now and would love to know how the merger process actualy works on this platform. Is there anyone who already went through the whole proces on Trading212? Questions are: 1. Did you get voting rights? 2. How do warrants work on Trading212? Did you get a chance to claim them? 3. How many shares of the new company did you get? (ratio) I went through older posts, but did not find answersā€¦ Thanks ---
**Author:** ![Lonelynx](https://dub1.discourse-cdn.com/flex013/user_avatar/community.trading212.com/lonelynx/32/1197_2.png) [@Lonelynx](https://community.trading212.com/u/Lonelynx)\ **Post date:** [January 16, 2021, 7:55pm UTC](https://community.trading212.com/t/spac-merger-process/37732/2 "2021-01-16T19:55:49Z")
1. No 2. No warrants on T212 3. 1:1 as expected ---
**Author:** ![vento](https://dub1.discourse-cdn.com/flex013/user_avatar/community.trading212.com/vento/32/19218_2.png) [@vento](https://community.trading212.com/u/vento)\ **Post date:** [January 17, 2021, 12:54am UTC](https://community.trading212.com/t/spac-merger-process/37732/3 "2021-01-17T00:54:07Z")
Are the warrants converted into cash? Or exercised? What happens? ---
**Author:** ![mcwilliams91](https://dub1.discourse-cdn.com/flex013/user_avatar/community.trading212.com/mcwilliams91/32/68_2.png) [@mcwilliams91](https://community.trading212.com/u/mcwilliams91)\ **Post date:** [January 17, 2021, 12:56am UTC](https://community.trading212.com/t/spac-merger-process/37732/4 "2021-01-17T00:56:51Z")
T212 will only list the Common Shares, so we have to wait until the SPAC Unit is split (52 days from listing roughly). So thereā€™s no warrants attached to your holdings. ---
**Author:** ![vento](https://dub1.discourse-cdn.com/flex013/user_avatar/community.trading212.com/vento/32/19218_2.png) [@vento](https://community.trading212.com/u/vento)\ **Post date:** [January 17, 2021, 5:48pm UTC](https://community.trading212.com/t/spac-merger-process/37732/5 "2021-01-17T17:48:33Z")
Does that mean I am ā€œlosingā€ money? ---
**Author:** ![mcwilliams91](https://dub1.discourse-cdn.com/flex013/user_avatar/community.trading212.com/mcwilliams91/32/68_2.png) [@mcwilliams91](https://community.trading212.com/u/mcwilliams91)\ **Post date:** [January 17, 2021, 6:40pm UTC](https://community.trading212.com/t/spac-merger-process/37732/6 "2021-01-17T18:40:26Z")
In short; no. However not fully sure of your question? UNIT (Not Available) = Common Share + Warrant **Common Share (Available) = Common Share** Warrant (Not Available) = Warrant After the 52 day process, all UNITS will split into their relative trading positions. With other brokers you can trade all three of the options above, with T212 however you canā€™t. Iā€™m sure thereā€™s someone else who might be able to explain it better, but hope this helps slightly? šŸ˜ ---
**Author:** ![vento](https://dub1.discourse-cdn.com/flex013/user_avatar/community.trading212.com/vento/32/19218_2.png) [@vento](https://community.trading212.com/u/vento)\ **Post date:** [January 17, 2021, 7:38pm UTC](https://community.trading212.com/t/spac-merger-process/37732/7 "2021-01-17T19:38:20Z")
I never invested in SPACs, so not familiar at all. So essentially, when I buy a SPAC thought Trading212, I am buying the common shares, hence once the merge is completed, will be converted into the shares. Right? And who bought the units (not available in Trading212), will receive also the warrants. Did I get it right? ---
**Author:** ![Cai-X](https://avatars.discourse-cdn.com/v4/letter/c/f05b48/32.png) [@Cai-X](https://community.trading212.com/u/Cai-X)\ **Post date:** [January 18, 2021, 5:16am UTC](https://community.trading212.com/t/spac-merger-process/37732/8 "2021-01-18T05:16:54Z")
> [@vento](#): > > So essentially, when I buy a SPAC thought Trading212, I am buying the common shares, hence once the merge is completed, will be converted into the shares. Right? You got that part rightā€¦ as you are already buying shares of SPACs. If merger is confirmed they will reverse merge with agreed private company. > [@vento](#): > > And who bought the units (not available in Trading212), will receive also the warrants. Did I get it right? Actually no one, it was never up for sale on Trading212. I will emphasize reading it again > [@mcwilliams91](#): > > T212 will only list the Common Shares, so we have to wait until the SPAC Unit is split (52 days from listing roughly). So thereā€™s no warrants attached to your holdings. When SPAC is first listed itā€™s in a ā€œUnitā€ which consists of 1 common share + 1/3 of a warrant exercisable. (Not available in T212) After approx 52days later the SPAC ā€œUnitā€ split up. Making room for 1. Common share 2. SPAC unit 3. Warrants Ex SPAC = ABC at start SPAC list as ABC.U or ABC/U 52 days later We have 1. ABC (Common Stock) 2. ABC.WS or ABC/WS 3. ABC.U or ABC/U T212 will only offer Common stockā€¦ ---
**Author:** ![vento](https://dub1.discourse-cdn.com/flex013/user_avatar/community.trading212.com/vento/32/19218_2.png) [@vento](https://community.trading212.com/u/vento)\ **Post date:** [January 18, 2021, 11:42am UTC](https://community.trading212.com/t/spac-merger-process/37732/9 "2021-01-18T11:42:04Z")
All clear, thank you. ---
**Author:** ![Gibas](https://avatars.discourse-cdn.com/v4/letter/g/ac8455/32.png) [@Gibas](https://community.trading212.com/u/Gibas)\ **Post date:** [February 9, 2022, 9:16pm UTC](https://community.trading212.com/t/spac-merger-process/37732/10 "2022-02-09T21:16:08Z")
I donā€™t get it. So I donā€™t get the 1/3 warrant when I use buying with trading212?ā€™ Is this till after a full year the case?