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Thread: Official Spac Thread
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03-31-2021, 05:50 PM #3271
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04-01-2021, 01:21 PM #3272
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04-01-2021, 01:26 PM #3273
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04-01-2021, 01:49 PM #3274
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04-01-2021, 05:21 PM #3275
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04-01-2021, 05:22 PM #3276
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04-03-2021, 07:34 AM #3277
Heard the valuation might actually be somewhat solid which would be huge for spacs generally. Wework could actually make a decent comeback as more and more businesses are realizing they don't need to own huge buildings for everyone to come work in daily. It can be just another cost saving method to either rent space on an as needed basis or if you are the owner sublease space to offset costs. I think valuation estimate was like 4x lower than previous funding rounds in like 2018 or something?
Fitness connoisseur
0.4 mg of party's over wake the FK up!
"the personification of greatness"
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04-03-2021, 11:54 AM #3278
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04-05-2021, 09:15 AM #3279
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04-05-2021, 09:19 AM #3280
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04-05-2021, 09:24 AM #3281
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04-05-2021, 09:26 AM #3282
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04-05-2021, 09:29 AM #3283
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04-05-2021, 09:42 AM #3284
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04-05-2021, 10:01 AM #3285
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04-05-2021, 10:01 AM #3286
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04-05-2021, 11:23 AM #3287
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04-05-2021, 11:27 AM #3288
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04-05-2021, 11:29 AM #3289
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04-05-2021, 12:07 PM #3290
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04-05-2021, 12:16 PM #3291
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04-05-2021, 07:00 PM #3292
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04-06-2021, 09:29 AM #3293
Remember when I was hodling MUDS?
They just announced w/ Topps the baseball card maker and popped to $11.35 today which is SOLID movement. People are dumping on their choice of company, but IMO valuation seems decent $1.16 billion at $10.15 with $570 million in cash going to the company between trust and PIPE. Not sure what % of the company Mudrick gets though.Fitness connoisseur
0.4 mg of party's over wake the FK up!
"the personification of greatness"
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04-06-2021, 09:42 AM #3294
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04-06-2021, 09:49 AM #3295
Yeah, no go
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“While we previously believed that we would be able to announce a potential transaction by the end of this quarter, we will not be in a position to do so,” Pershing Square chief Bill Ackman wrote in the report. “We do not intend to make any announcements about PSTH’s transaction progress until we enter into a definitive agreement.”
This almost makes it sound like they have yet to find a likely target...
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“Eight months since PSTH’s launch, we remain convinced that an investment in PSTH will generate highly attractive long-term returns, even from PSTH’s current stock price,” he wrote. “If we are successful in completing such a transaction, we expect that PSTH will be an important contributor to [Pershing Square Holdings'] shorter-term and long-term performance.”
This is interdasting:
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Ackman also reiterated plans to create a second special purpose acquisition company called Pershing Square Tontine Holdings II, which has been previously publicly reported.
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He said the new SPAC will give existing PSTH shareholders and those with money in Pershing Square funds preference in investing in Pershing Square Tontine Holdings II. That presumably means they’ll be able to buy shares as part of the IPO process rather than waiting for the special purpose acquisition company to begin public trading."It won't get better, just different."
“Yeah, that's what the present is. It's a little unsatisfying because life's a little unsatisfying.”
Bring back ****got, ****got .
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04-06-2021, 09:50 AM #3296
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04-06-2021, 11:27 AM #3297
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04-06-2021, 11:30 AM #3298
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04-06-2021, 12:02 PM #3299
I'm down about 7% from my account's "peak" excluding money I've added since then. Kinda blows my mind when SPACs as a whole are down significantly more than that. I'm thankful I felt everything was too expensive and stuck primarily to commons. I'm still going to have to take one or 2 more Ls and let some IPOF calls expire worthless and probably sell FTOC at a loss, but depending on how long it takes to merge I can hopefully keep selling calls against it when it goes up and close the calls when it dips like it currently is.
Fitness connoisseur
0.4 mg of party's over wake the FK up!
"the personification of greatness"
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04-06-2021, 12:07 PM #3300
- Join Date: Jun 2010
- Location: Saint Louis, Missouri, United States
- Posts: 11,481
- Rep Power: 53084
Just went all in on MUDS as my only SPAC since it's my industry. But all in is not much. A measly 100.
Former Disney CEO Michael Eisner to take trading card company Topps public in $1.3 billion SPAC deal
Former Disney chairman and CEO Michael Eisner is getting in on the SPAC boom.
Eisner disclosed Tuesday that his firm The Tornante Company, which purchased trading card company Topps in 2007 for $385 million, will roll 100% of its equity into a new public entity dubbed Mudrick Capital Acquisition Corporation II. The transaction will see the return of Topps to the public markets in a deal valued at $1.3 billion. Topps will trade on the Nasdaq under the ticker symbol "TOPP."
Mudrick Capital Acquisition II, a SPAC founded by Mudrick Capital's Jason Mudrick, will contribute $100 million to the deal. Mudrick recently rose to fame by reportedly scoring hundreds of millions of dollars in profits on debt and equity trades on AMC and GameStop during the meme stock frenzy earlier this year.
Eisner will remain chairman of the Topps board. Other high-profile names on the board will include Jill Ellis, coach of the U.S. Women’s 2014 and 2019 FIFA World Cup champions; Maria Seferian, general counsel of Hillspire LLC; and Marc Lasry, co-owner of the Milwaukee Bucks and co-founder of Avenue Capital Group.
Topps' long-time CEO Michael Brandstaedter will continue to lead the company.
“We are moving from an analog company to a digital company. We have tremendous earnings, great revenue and great cash flow. We'll be able to do M&A once we are public. It just seemed like the right time. We decided before this boom and blockchain that we are ready to go. Topps is the same financially as Disney was when we went in 1984. If we do 10% of Disney, that would be very good," Eisner said on Yahoo Finance Live.
Topps revealed it's pursing an entry into the surging NFT space, too.
"This is not a distressed company by any means. We looked at a lot of opportunities. What really drew us to the Topps opportunity was the power of the brand. When we heard Topps was looking to go public, the first thing I did was run home and dig out all my old baseball cards which were in shoeboxes and buried back behind old shelves. All the guys I work with did the same thing. We found ourselves sitting around the table telling stories from 30 and 40 years ago," Mudrick said on Yahoo Finance Live.
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