I know this SPAC is managed by Michael Klein (Former Co-CEO of Citigroup Markets and Banking). A lot of people have a memory on him in relation to the merger of CCXX and Multiplan, where he allowed the PIPE investor to dump their share without a locking up period. In fact, these PIPE Investors are doing it on the first date of merger.
IMO It is good to avoid a SPAC with significant funding from the PIPE investor without locking up period. As there is an incentive for this institution for an arbitrage opportunity as they got their share with significant discount. They could then move to another SPAC project after bagging profit. For retailer investor, they will become a bag holder.
CCIV (Churchill Capital Corp IV) is still managed by Michael Klein (not good), but the attractive feature of this SPAC is that; they are one of the largest SPAC with US$2bil+ capital. This SPAC if managed by sensible people will attract a well-known unicorn who want to go public much faster.
There is a rumour that they are in talk (unconfirm) with direct TV. It is currently trading below NAV at US$9.97, so downside is very limited. But the name Michael Klein in it will make people to act very careful.
So, my question here:
Is there any PIPE Investor without locking up period are getting involved in this SPAC?
What do you think about this SPAC is there a good chance to turn up to become 2x+ in about one year from now?