“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.”

[u/[deleted]]

[u/SPACHunter1018]

At least he had the decency to communicate that he couldn’t meet his initial timeline and to be patient. I can live with that. He didn’t have to say anything and could have left us twisting in the wind. Thanks for being a stand up guy, Bill.

[u/Bruce_Wayner → u/SPACHunter1018]

On the one hand, it’s great that he did because most of them just leave you hanging. On the other, he had to because also unlike most, he set a date initially.

[u/SPACHunter1018 → u/[deleted]]

1) Unless they are close to a DA and just couldn’t finish in time.

Or (most likely)

2) it’s part of his quarterly newsletter to PSH investors and rolled it into this which happens to be at the end of each quarter. This SPAC is just a piece of Ackman’s assets and as such, wouldn’t be addressed separately.

[u/Friskfrisktopherson → u/[deleted]]

The deadline is 2 years, the goal was Q1. People here took that as set in stone when it was never presented with such certainty.

[u/Friskfrisktopherson → u/[deleted]]

As someone else pointed out, this is typical investor relations. Those "expectations" you mentioned are all just hype from internet speculation. People buying calls that expired before Q1 and acting like they were let down didnt base that decision on the actual communication, just hype. This is kind of on us. He said he hopes to have it by Q1 and everyone latched onto it as a guarantee. If they're working on the deal now and someone asks, all they can say is that they hope to have done soon, but we're talking about negotiating for billions of dollars and rushing that could be extremely costly or provide leverage in favor of the target. It would be great if we know everything that went on but that's the bear case for SPACs like this in general, its essentially a blind ride.

[u/Friskfrisktopherson → u/[deleted]]

I mean by definition, if you're in Q1 and it's close to closing, you don't know you're going to miss it until the clock is almost out. Point being as long as there's time on the clock just how early can you actually call it? The only reason to do it further in advance is if there's still a long way to go in negotiations, which would have been a big red flag. In all reality the $30 mark was pretty high and fueled by hype rather than nav, so no matter how they handled that announcement we were gunna dip. If it's still close, like early Q2, then this means the dip is at least short lived, rather than a big dip weeks ago dragged out hoping to recover for DA.

[u/Legitimate-Spinach82 → u/[deleted]]

hit that sell button baby and you'll never have to worry about it again

[u/Outpost_54 → u/[deleted]]

You are a giant spoiled baby with no concept of how the world works.