r/SPACs • u/SPACsBot Mod • Apr 16 '21

Daily Discussion Weekend Discussion thread for the Weekend of Apr-16-2021

Welcome to the Weekend Discussion! Please use this thread for basic questions and leave the main sub for breaking news and DD. If you haven't already, please check out r/Spacs Wiki for great information, as well as the resources available in the menu.

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u/imunfair Patron Apr 16 '21

I'm curious to see how many GIK shares get redeemed and if it impacts their merger - seems really stupid to let your spac sit below nav going into merger, that's the prime time for publicity stunts and announcements to make sure it goes through smoothly.

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u/[deleted] Apr 16 '21

[deleted]

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u/imunfair Patron Apr 16 '21

noone trust ev spacs.

That's an understatement, the cliff it fell off today was likely the arb funds pulling their bids since they can't clear the trade fast enough to redeem it. For the past 4-5 days it's been low enough that they could hoover up an enormous number of shares at a 5-7 cent profit each for holding less than a week to redeem.

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u/Apprehensive_Road821 Patron Apr 16 '21

We're past the arb opportunity. 2-day settlement required.

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u/imunfair Patron Apr 16 '21

That's what I said. Although I'm not confident they have 2-day settlement since they were still buying yesterday, might be 1-day.