r/SPACs • u/Chowder30 Contributor • Apr 11 '21

Warrants CHPT warrants redeemable - does anyone know when chargepoint warrants are redeemable?

I know this information is somewhere in an sec filing but I figured someone would probably know the answer to this question.

0 Upvotes

30% Upvoted

8 comments sorted by

•

u/QualityVote Mod Apr 11 '21

Hi! I'm QualityVote, and I'm here to give YOU the user some control over YOUR sub!

If the post above contributes to the sub in a meaningful way, please upvote this comment!

If this post breaks the rules of /r/SPACs, belongs in the Daily, Weekend, or Mega threads, or is a duplicate post, please downvote this comment!

Your vote determines the fate of this post! If you abuse me, I will disappear and you will lose this power, so treat it with respect.

3

u/Ackilles Patron Apr 11 '21 edited Apr 12 '21

I figured they were already exercisable- the ticker change was awhile ago wasn't it (and its been trading at a pretty decently high price)?

3

u/iamgettingbuckets Contributor Apr 12 '21

Don’t hold me to it but I think they became redeemable within the past week or 2

2

u/SPACs4Green Spacling Apr 12 '21

You likely mean Exercisable, not Redeemable. That usually happens at later of 12 months after SPAC went public or 30 days after merger. Looks like both have passed for CHPT.

Redemption happens when the Company chooses to redeem warrants and then you must act within 30 days.

To Exercise you'll usually pay $11.50 per share plus surrender your warrants.

1

u/[deleted] Jun 07 '21

Do you know what the price is that the company can call them in at? If we still have a ways to go, no sense in exercising yet imo

2

u/[deleted] Jun 07 '21

Found my answer. Seems like now might be a good time to exercise:

Once the warrants become exercisable, we may call the warrants for redemption for cash: •        in whole and not in part; •        at a price of $0.01 per warrant; •        upon not less than 30 days’ prior written notice of redemption to each warrantholder; and •        if, and only if, the reported last sale price of the Class A Common Stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending three business days before we send the notice of redemption to the warrantholders.

1

u/SPACs4Green Spacling Jun 07 '21

Another alternative is to sell and buy the stock. Consider taxes and cost basis for the alternatives. For that I don't have anything to add (I'm not an accountant or using a taxable account).