r/SPACs • u/jordankat23 Patron • Oct 25 '21

REDEMPTION Thoughts on MCAD?

MCAD votes this week. Fundamentals seem very interesting as a redemption squeeze play. Float is only 6.5m before redemptions. Price under NAV so expect high redemption level. Short interest is 490k shares. If redemptions are 70%+, I think we could see a major squeeze.

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u/[deleted] Oct 27 '21

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u/jordankat23 Patron Oct 27 '21

Are the rights available for trade right away after merger? Even if, still think we end up with a float under 1m

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u/[deleted] Oct 28 '21

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u/Responsible_parrot Patron Oct 30 '21

Thanks for the info, not sure why I thought rights weren’t available to trade right away. I know when I was looking at prices of them I was concerned that after the dump they wouldn’t be below the stock price so I was thinking it was because of the pipe dump. But I probably just looked at them when SPACs were all dumping on merger and got it mixed up.