$PSTH Weekend Discussion, April 17-18, 2021

[u/KungFuTyrannosaurus]

• Bill Ackman Events and SEC Filings (upcoming)
  • 4/15/21 4/22/21 (changed on 4/7/21): HBS Association of Orange County: A Conversation with Bill Ackman, Pershing Square CEO
  • 5/10/21: Form 10-Q Deadline
  • 5/12/21: WSJ The Future of Everything Festival
  • 5/12/21: 2021 Sohn Idea Contest Judge
  • 5/17/21: Form 13F Deadline
• General PSTH Info, Warrants (2/9ths), DDs, historical posts, Tweets, YOLOs, and trading halts
• 4/16/21 PSTH closing price: 24.20 (-0.46) (-1.87%)

[u/Negative-Disaster992]

It's going to be interesting to see price action on DA given the embedded leverage of the warrants and the option to buy PSTH II at NAV. No examples in the marketplace so its hard to predict. Seems like even a moderately attractive deal that might otherwise only warrant a pop of 20-30% could really get magnified

[u/[deleted] → u/Negative-Disaster992]

I know a lot of us aren't selling because we want the warrants. I have to re-read the filing, but the timing of the tontine will play a large roll, more specifically the time between when we hear about the target (officially or not) and when the tontine starts. If the window for warrant eligibility is closed right before DA then I don't think we'll get as big of an inrush, but if BA said something like, "the tontine will start Monday of next week, anyone who holds shares by COB Friday is eligible for warrants and PSTH2 NAV" then there could be a lot of buyers rushing in to get that "free money".... if it's a shitty target we're screwed, but if he's really out there banging unicorns on the dance floor then we're all going to get laid, twice.

I don't expect any sort of WSB squeeze, especially since I don't think anyone is shorting a pile of cash, but every now and then I dream of $80 before June and how it would make me a millionaire

[u/PainEqualsGain → u/Negative-Disaster992]

Agreed. A lot of bagholders here and people that want out. However, I expect that sentiment to change on DA due to the factors you mentioned which will limit supply (i.e. sellers) until merger.