BobC
20 March 2021 14:58
5
Freetrade_Team:
In terms of US SPACs, we are working with our US trading partner to understand if there are any we have not yet added which meet their eligibility criteria, namely $1bn market cap or 3-month average daily dollar volume must be greater than $0.5 million. I personally conducted the analysis on these, and we hope to have some new ones to add soon.
Hi Sam just to expand on one of your points re. SPACS - are you looking to implement the voting rights and recovery of funds if the SPAC doesn’t come to fruition as discussed elsewhere on the forum:-
I don’t know who needs to know this, but just to be clear to those buying SPACs you are not buying shares in a company, but a shell vehicle that may become a company.
As such, that de-SPAC process involves a vote on the new company. FreeTrade does not allow you to vote on the merger even though sufficient votes are required for it to pass, become a company, and then hopefully you earn more on your investment.
Should this be more clearly laid out? I am very happy that FT has enabled me to buy i…
and here
I just wondered if I could get some clarification on the SPAC NAV merger redemption process.
One of the benefits of investing in a SPAC close to the NAV (Net Asset Value) price which in most cases is $10.00 a share (apart from $PSTH which is $20.00 a share) is that when the proposed merger takes place, if the share price has dipped below the NAV to say $9.00 a share, shareholders are entitled to redeem their shares at the NAV, which in most cases is $10.00 a share.
Shareholders are also given …
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