Official Spac Thread

**RobParks2M** · 02-28-2021, 11:11 AM

Originally Posted by Heaney

Will be interesting to see which way the serial spac-ers go in regards to warrants (Gores/Social Capital/Churchill).

it is going to get tougher for them to get the underwriting necessary to raise the money if rates rise. Should see serial spac teams stop raising as many new and focus on better deals hopefully.

**Casser1242** · 02-28-2021, 06:32 PM

Charlie Munger last week went off on SPAC's 'The world would be better off without them, this is crazy speculation, its a sign of an irritating bubble' lol

**Heaney** · 02-28-2021, 06:48 PM

Originally Posted by Casser1242

Charlie Munger last week went off on SPAC's 'The world would be better off without them, this is crazy speculation, its a sign of an irritating bubble' lol

Easy to say when you get first dibs at every IPO for pennies on the dollar.

**NoScrubz** · 03-01-2021, 07:11 AM

Added more IPOF and ALTU here. Thinking SPACs will rebound this week along with the rest of the market.

**Heaney** · 03-01-2021, 07:17 AM

Originally Posted by noscrubz

added more ipof

yas

**RobParks2M** · 03-01-2021, 07:19 AM

Originally Posted by NoScrubz

Added more IPOF and ALTU here. Thinking SPACs will rebound this week along with the rest of the market.

Added 300 ETAC myself. Closed my PLTR CSP so freed up the money I was planning on buying my pltr from lmao.

If everything could just go back to $11 that would be greaaaaaaaaaat lmao

**MountainLion84** · 03-01-2021, 07:42 AM

SWBK (The team behind SBE/Chargepoint) Shares and Warrants are live

Holding 850 Units @$11.87 (1 Unit = 1 share and 1/5 WT)

**Harry362** · 03-01-2021, 07:47 AM

SCVX please announce something big

**Heaney** · 03-01-2021, 07:55 AM

Originally Posted by MountainLion84

SWBK (The team behind SBE/Chargepoint) Shares and Warrants are live

Holding 850 Units @$11.87 (1 Unit = 1 share and 1/5 WT)

Warrants at $5 first day of split looooool.

**MountainLion84** · 03-01-2021, 07:58 AM

Originally Posted by Heaney

Warrants at $5 first day of split looooool.

I did the math and it actually makes sense when you factor in that every unit = only 1/5th of a Warrant

I took the price of the shares and warrants and compared them to my Units and it was trading 2 cents cheaper per Unit at the time..... for value I believe Units are better ATM though.

**Heaney** · 03-01-2021, 08:02 AM

Originally Posted by MountainLion84

I did the math and it actually makes sense when you factor in that every unit = only 1/5th of a Warrant

I took the price of the shares and warrants and compared them to my Units and it was trading 2 cents cheaper per Unit at the time..... for value I believe Units are better ATM though.

I believe the math works out, just an insane price for warrants on day 1, warrants are trading as if the shares are 16.50 when they're in the 10s.

**RobParks2M** · 03-01-2021, 08:09 AM

Originally Posted by Heaney

I believe the math works out, just an insane price for warrants on day 1, warrants are trading as if the shares are 16.50 when they're in the 10s.

It is a low volume day I'd wager. Put a buy order in for $2.10 and $1.81 and see if it hits. Still lots of people that don't think about it and place big buys/sells with market orders.

**MountainLion84** · 03-01-2021, 08:15 AM

Originally Posted by Heaney

I believe the math works out, just an insane price for warrants on day 1, warrants are trading as if the shares are 16.50 when they're in the 10s.

This is true

**Destor** · 03-01-2021, 09:12 AM

Originally Posted by Heaney

Easy to say when you get first dibs at every IPO for pennies on the dollar.

I’m not sure that’s a fair criticism @ Munger, Snowflake is the only IPO Berkshire has ever bought and they paid above the Class A IPO price for it @ $144ish averaged

Buffett has always been against jumping into IPOs

**SazabiBrah** · 03-01-2021, 10:11 AM

Originally Posted by TugOfPeace

I am spread too thin in too many SPACs. I am debating reducing shares in some and adding to others. My initial strategy was to diversify as much as possible.. but then I started thinking, I haven't really considered price targets for most of these. I could theoretically be mistakenly adding too many shares to one that doesn't have much potential and adding less shares than I should to one with more potential.

ALTU - 500
AVAN - 500
BFT - 500
BWAC - 750
CCAC - 500
CRHC - 750
ETAC - 750
IPOF - 500
MAAC - 500
SCPE - 750
SCVX - 500
SRNGU - 500
SWBK - 500

SRNGU crew..... could be big

**Harry362** · 03-01-2021, 10:35 AM

SCVX 2000 commons 2000 warrants

rdy for liftoff

**Heaney** · 03-01-2021, 10:36 AM

Originally Posted by Destor

I’m not sure that’s a fair criticism @ Munger, Snowflake is the only IPO Berkshire has ever bought and they paid above the Class A IPO price for it @ $144ish averaged

Buffett has always been against jumping into IPOs

So they paid 144/share (actually paid 120/share and then averaged up later) and made 800M the first day of trading. How exactly is that not paying pennies on the dollar when it opened to the public around 300/share?

Also they bought StoneCo's IPO the year before and that was found just using a quick Google so its hardly the only IPO he's ever bought.

**Destor** · 03-01-2021, 11:43 AM

Originally Posted by Heaney

So they paid 144/share (actually paid 120/share and then averaged up later) and made 800M the first day of trading. How exactly is that not paying pennies on the dollar when it opened to the public around 300/share?

Also they bought StoneCo's IPO the year before and that was found just using a quick Google so its hardly the only IPO he's ever bought.

Was it actually not possible for the public to get in at $120? When I first searched this I came across blog posts from people who claim they did. I’ve never done it so not sure of the process but I imagine it takes some work up front.

Hadn’t heard of StoneCo and it looks like it was a Berkshire investment manager named Todd Combs who was responsible for the deal where they piggybacked those shares on the IPO.

Buffett said in 2019 that he didn’t think Berkshire had bought a single new public issue in 54 years of operation. Maybe they’ve had two now, but sufficed to say buying IPOs with a huge advantage over the public isn’t how Berkshire made their $$$. Buffett has long warned Berkshire shareholders about IPOs in his annual letters, mainly because of the way they’re structured and incentivized

**RoyalRyy** · 03-01-2021, 01:11 PM

Sweet... CLOV running. Kind of seemed like a no brainer to buy in low 9's for some ez money.

**mikusk** · 03-01-2021, 01:35 PM

AJ any updates on MAAC,BWAC and SCPE ? currently bag holding all 3 lol, will need to free up some capital soon so not sure whether to wait or take a small loss

**adamsz** · 03-01-2021, 02:25 PM

Musk just tweeted “green eggs and SPAC”

Inb4 huge boom

**Berts** · 03-01-2021, 02:29 PM

Originally Posted by adamsz

Musk just tweeted “green eggs and SPAC”

Inb4 huge boom

Is that directed toward all SPACS or is there one in particular? I wish he would text me before he tweets these things, I would be retired by now

**Heaney** · 03-01-2021, 03:03 PM

Originally Posted by adamsz

Musk just tweeted “green eggs and SPAC”

Inb4 huge boom

Doubt its related but IPOF commons and warrants each went up $0.50 when he tweeted that.

**Heaney** · 03-01-2021, 03:04 PM

Originally Posted by RoyalRyy

Sweet... CLOV running. Kind of seemed like a no brainer to buy in low 9's for some ez money.

They have some sort of demo day tomorrow that people seem to be excited about

**RoyalRyy** · 03-01-2021, 03:20 PM

Originally Posted by Heaney

They have some sort of demo day tomorrow that people seem to be excited about

Dropped to the 9's so fast. Gonna put some more fun money in. I only have 3k in it so far so I'm not worried. I can see it rebounding eventually but it has a rocky path. I'm just looking to pump and dump. Is there anything to actually be scared of at these low prices?

**RobParks2M** · 03-01-2021, 03:32 PM

Originally Posted by adamsz

Musk just tweeted “green eggs and SPAC”

Inb4 huge boom

It’s a cryptic tweet about using ETAC to go public. Announcement coming tomorrow in honor of dr. Seuss. Anniversary tomorrow.

Etac to $20 tomorrow!

Not srs

**Heaney** · 03-01-2021, 03:38 PM

Originally Posted by RobParks2M

It’s a cryptic tweet about using ETAC to go public. Announcement coming tomorrow in honor of dr. Seuss. Anniversary tomorrow.

Etac to $20 tomorrow!

Not srs

The stocktwits war right now between psth and ipof re: that tweet/starlink is hilarious.

**RobParks2M** · 03-01-2021, 04:06 PM

Originally Posted by Heaney

The stocktwits war right now between psth and ipof re: that tweet/starlink is hilarious.

People are fuking stupid on that site I swear LOL.

And who wants spacex ETAC going for neuralink

**Heaney** · 03-01-2021, 04:11 PM

Originally Posted by RobParks2M

People are fuking stupid on that site I swear LOL.

And who wants spacex ETAC going for neuralink

Stocktwits has to be the biggest collection of absolute retard tier "traders" on the internet.

**RobParks2M** · 03-01-2021, 04:18 PM

Originally Posted by Heaney

Stocktwits has to be the biggest collection of absolute retard tier "traders" on the internet.

I absolutely hate to say it but the Reddit thing is getting down there too. Some straight up pathetic stuff getting posted in hopes of pumping things.

Thread: Official Spac Thread

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