Merger on the horizon. Potential to be massive. Please add quickly.
i tagged this in the Megathread too
how many shares are people holding is this the rocket is getting ready for take off
Holding 16 1st bought at low 18s and been averaging in on the way up wish I bought in all at once.
Rather lucky to get in on 19$, unlucky on getting only 7. Eh it is what it is
Enjoyed SHLL today.
Sequel is on it’s way.
Seemingly will have SNPR ticker and focused on energy sector.
“We intend to focus our search for a target business in the broad energy transition or sustainability arena targeting industries that require innovative solutions to decarbonize in order to meet critical emission reduction objectives.”
So this will be Tortoise Acquisition Corp 2? Sounds interesting
Yeah and looks to be the same management team using their experience from SHLL to launch another SPAC in a similar area. Apparently they reviewed 200 companies before settling on Hylion so maybe they have another target in mind already.
merger has been announced for 28th September.
I’ve just read that shareholders need to vote for the merger to go ahead. I assume Freetrade vote on our behalf?
My understanding is if you don’t vote but the merger still gets enough votes to pass your shares will convert. The problem some have discussed on reddit etc is the high level of retail ownership in some of these SPACs, with many of the holders not realising that the SPAC may not pass merger unless a significant portion of the retail holders vote in favour.
Exactly, this is why I wanted to understand how this works with Freetrade. Obviously the shares are held in Freetrade’s name, not ours (correct me if I’m wrong).
@Freetrade_Team do we need to worry or is the above being taken care of?
I doubt Freetrade holders make any significant percentage. As long as the threshold is met your shares will convert regardless of whether you voted for or didn’t vote. That being said Freetrade should consider implementing the functionality to enable voting or at least notify customers a critical vote is imminent and where to phone etc.
I asked the question in relation to this and was told that freetradee US partner does not allow us the facility to vote. So basically, if we hold SHLL shares through Freetrade, we can’t vote
Any plans from the Freetrade team to add this one to the app? Seems like an obvious choice considering SHLL’s success.
It’s been on for months? Check $HYLN
Was referring to the second SPAC under the SNPR ticker