SPACs

Atlas_IRL · 19-02-2021 10:07am

I bought FRX yesterday at 11.50 , its 13.76 after hours.

Its basically a couple of companies in one, Beachbody who have one of the biggest digital content fitness libraries in the world. Bought a peleton bike competitor, a nutrition company owned by shaq and Arnie and the pipe is kevin mayer who created Disney +. Revenue is nearly 1billion.

twitter will summarise it better than I can https://twitter.com/search?q=%24frx&src=typed_query

buyer95 · 19-02-2021 4:00pm

Atlas_IRL wrote: »

I bought FRX yesterday at 11.50 , its 13.76 after hours.

Its basically a couple of companies in one, Beachbody who have one of the biggest digital content fitness libraries in the world. Bought a peleton bike competitor, a nutrition company owned by shaq and Arnie and the pipe is kevin mayer who created Disney +. Revenue is nearly 1billion.

twitter will summarise it better than I can https://twitter.com/search?q=%24frx&src=typed_query

Thanks for the tip, bought 30 shares at open. Strong start

crazy_kenny · 19-02-2021 4:03pm

$FRX over $15 already. Glad I got in yesterday at $11.40

Atlas_IRL · 19-02-2021 4:55pm

crazy_kenny wrote: »

$FRX over $15 already. Glad I got in yesterday at $11.40

I didn't really like it when I saw it first then I saw the proper DD and the connections, and it was a no brainer.

Curious Geroge · 19-02-2021 6:19pm

GHVI / Gores Holdings VI finally added to Degiro but its gone from the $16 when requested to $20 - one to watch I guess

cronos · 19-02-2021 6:22pm

Curious Geroge wrote: »

GHVI / Gores Holdings VI finally added to Degiro but its gone from the $16 when requested to $20 - one to watch I guess

It's a pain they don't automatically add these quicker. Put's us at a major disadvantage.

cronos · 19-02-2021 6:26pm

Added some FPAC at 10.58

Chuckie_Egg · 19-02-2021 7:42pm

Atlas_IRL wrote: »

I bought FRX yesterday at 11.50 , its 13.76 after hours.

Its basically a couple of companies in one, Beachbody who have one of the biggest digital content fitness libraries in the world. Bought a peleton bike competitor, a nutrition company owned by shaq and Arnie and the pipe is kevin mayer who created Disney +. Revenue is nearly 1billion.

twitter will summarise it better than I can https://twitter.com/search?q=%24frx&src=typed_query

Ah fook I meant to pick up some but didn't look into it.

cronos wrote: »

Added some FPAC at 10.58

I'm holding here too, it's early days yet but I see Linden Capital are holders here too. They focus on middle market healthcare and life science companies.
I thought Far Peak were after some form of fintech for this spac but I could be wrong.

crazy_kenny · 19-02-2021 7:42pm

$SNPR bargain at under $15 currently

pioneerpro · 22-02-2021 12:16am

Atlas_IRL wrote: »

I bought FRX yesterday at 11.50 , its 13.76 after hours.

Its basically a couple of companies in one, Beachbody who have one of the biggest digital content fitness libraries in the world. Bought a peleton bike competitor, a nutrition company owned by shaq and Arnie and the pipe is kevin mayer who created Disney +. Revenue is nearly 1billion.

twitter will summarise it better than I can

Massive pump'n'dump of this with Atlas trading group and other eejits like Alex Cutler - but I'd say you probably already know that. It was a silly pivot from the original SPAC target statement and is very likely to take a dump this week with CCIV DA imminent and others like it sucking all the air out of the market. Caveat Emptor, especially if the institutional boyos take a notion to shorting it with all the silly sentiment hype and go for a stop-loss raid like they did friday PM with CCIV.

Atlas_IRL · 22-02-2021 11:44am

pioneerpro wrote: »

Massive pump'n'dump of this with Atlas trading group and other eejits like Alex Cutler - but I'd say you probably already know that. It was a silly pivot from the original SPAC target statement and is very likely to take a dump this week with CCIV DA imminent and others like it sucking all the air out of the market. Caveat Emptor, especially if the institutional boyos take a notion to shorting it with all the silly sentiment hype and go for a stop-loss raid like they did friday PM with CCIV.

Didnt see it in Atlas discord but Alex Cutler and Yates Investing were pumping it, its fine as I am in at an early price. It could be manipulated but its going to get a lot of media attention from Arnie, LeBron etc who have a massive social media following. The bikes are way cheaper than Peleton as well. It's not going to touch my buy-in price.

Lots of talk of NGAC this morning on fintwit.

cronos · 22-02-2021 12:03pm

What are all your thoughts on NGAC? Another bloomberg rumor has got my interest piqued. Pity I wasn't in that one closer to NAV.

Also curious on thoughts on HZON. Tempted to buy some.

Atlas_IRL · 22-02-2021 12:08pm

Its getting blasted all over twitter, very hard to get on these early with premarket.

pioneerpro · 22-02-2021 12:21pm

Atlas_IRL wrote: »

Its getting blasted all over twitter, very hard to get on these early with premarket.

What broker are you using to trade premarket/AH from Ireland out of interest? Didn't think there was a retail investor aligned brokerage who'd handle that.

pioneerpro · 22-02-2021 12:25pm

Atlas_IRL wrote: »

The bikes are way cheaper than Peleton as well. It's not going to touch my buy-in price.

Yeah there's plenty cheaper rowers than the Concept2 but its a very discerning and inelastic market for also-rans and second movers. There's a wait list for Peleton; it's like comparing some bog standard Huawei or Xiaomai phone to the iPhone and comparing the tech specs, people unfortunately don't work like that.

I'd also stress that their linear sales projections (complete nonsense and don't remotely account for pandemic restrictions easing) are exactly why this sort of play would consider a SPAC more appealing than an IPO - they can basically make up whatever sales projections they want with a SPAC and somewhat side step the securities fraud issue they'd have with a direct IPO doing the same thing.

But, as you indicate, if you're in near-NAV then your only concern is exactly how much profit you're planning on taking

Atlas_IRL · 22-02-2021 12:58pm

pioneerpro wrote: »

What broker are you using to trade premarket/AH from Ireland out of interest? Didn't think there was a retail investor aligned brokerage who'd handle that.

None, we cant as far as I know

massive disadvantage.

pioneerpro · 22-02-2021 1:16pm

Atlas_IRL wrote: »

None, we cant as far as I know massive disadvantage.

Yeah it's absolutely brutal, huge money to be made that we're just completely blocked from. Are you with IBKR and/or do you buy units? Any idea on the cost/time for a SPAC unit split with Irish available brokerages if so?

Currently trying to even out our silly disadvantage by seeing if I can even get some access to flip warrants at the moment - they're going absolutely wild for near-NAV SPACs without rumours in recent times - and so I'm waiting on IBKR document verification atm. Would love advice on any other brokerages worth setting up an account with, already have a DeGiro but that barely qualifies as such lol.

shakedown · 22-02-2021 1:32pm

Anyone getting in on $NSTB, which just announced a deal with Apex clearing house?

Atlas_IRL · 22-02-2021 1:46pm

pioneerpro wrote: »

Yeah it's absolutely brutal, huge money to be made that we're just completely blocked from. Are you with IBKR and/or do you buy units? Any idea on the cost/time for a SPAC unit split with Irish available brokerages if so?

Currently trying to even out our silly disadvantage by seeing if I can even get some access to flip warrants at the moment - they're going absolutely wild for near-NAV SPACs without rumours in recent times - and so I'm waiting on IBKR document verification atm. Would love advice on any other brokerages worth setting up an account with, already have a DeGiro but that barely qualifies as such lol.

Pretty sure IBKR have warrants and there is way more money to be made in them but risks as well. Some are better deals than others as well (how many warrants to shares), the % gains on warrants are far higher but you need to get low and its pretty much day of warrant announce I've heard that you need to jump to get the best value.
I only set up my account the other day with it. Haven't looked at units.

I am waiting for trading 212 to verify my ID it's blocked as well cause you can use your debit card and it takes me around 2 days to get money into degiro.
Etoro also takes paypal but its ****e for most tickers, doesn't have spac's either. I used it to get Palantir at 9.80 after IPO would have missed out waiting for the moment to go to degiro.

Saw this today which looks interesting https://www.independent.ie/business/world/freetrade-prepares-irish-launch-after-gamestop-surge-drives-demand-40109267.html

pioneerpro · 22-02-2021 2:00pm

shakedown wrote: »

Anyone getting in on $NSTB, which just announced a deal with Apex clearing house?

I'd prefer it to either of the other offerings today (SVAC in particular) but you're probably too late to the races. Trend atm is to sell the rumour rather than the DA agreement. Unless you catch a Bloomberg terminal screenshot quick your risk is exponentially going up to be left as a bag holder. Also always check % of institutional ownership and target sector, and weight that against recent performances.

pioneerpro · 22-02-2021 2:03pm

Atlas_IRL wrote: »

Some are better deals than others as well (how many warrants to shares), the % gains on warrants are far higher but you need to get low and its pretty much day of warrant announce I've heard that you need to jump to get the best value.

TBH there's been so little mergers not being achieved, and 3x-7x potential with warrants versus about 20-40% on most common shares for SPACs nowadays, that the risk profile actually isn't too bad. If you can nab stuff for $2-3 (and they're often silly prices for non-trendy sectors, with a disconnect from common prices) its a seemingly pretty profitable way of going long on something if you believe in a given management team. I basically don't buy SPAC commons above $12 or $12.50 max at any stage of the cycle. YMMV depending on trading style.

Check out the bleeding market today - commons down, warrants up

pioneerpro · 22-02-2021 9:05pm

Strongly advise those with unit access to check out CPUH.U and those looking for value to check out MAAC. Both significant medical sector plays, both with strong boards, and MAAC's crowd have a second SPAC filling with the SEC as of last month.

https://www.prnewswire.com/news-releases/montes-archimedes-acquisition-corp-announces-pricing-of-400-000-000-initial-public-offering-301147279.html

https://www.businesswire.com/news/home/20210204006178/en/Compute-Health-Acquisition-Corp.-Announces-Pricing-of-750-Million-Initial-Public-Offering

crazy_kenny · 22-02-2021 10:16pm

$PIPP

https://twitter.com/chronocrypto/status/1363907797080018949

pioneerpro · 22-02-2021 10:57pm

crazy_kenny wrote: »

$PIPP

https://twitter.com/chronocrypto/status/1363907797080018949

Interesting. It's a crowded space; asides from all the silly eVTOL plays like ZNTE left, you have ALTU which is probably going to fly but is a bit priced out already. You also have significant Military/Defense SPACs like NHS and DFNS, and then you have like two ex-NSA heads or otherwise National Intelligence people involved in SCVX and NDAC (incoming). Hell, even EPHY (incoming).

It's basically already known as the Biden SPAC, and hit an ATH of 14 more or less out of the gate. It's slowly bleeding down now as people get pipped out to conflict of interest, and they'd have to be squeaky clean with their acquisition.

Wingman2010 · 23-02-2021 11:31pm

I posted it on a different thread last week. But the RMGB merger with Renew Power (Renewable Energy Provider) is getting closer seemingly. Rumoured to be a $8 million deal. I got in early last week as clearly a lot of potential here with the size of India and Renew Power being one of the biggest energy players in India.

Cute Hoor · 23-02-2021 11:32pm

ReNew Power, India’s biggest renewable power producer, is nearing an agreement to merge with blank-check company RMG Acquisition Corp. II, according to people familiar with the matter.
The deal would give Goldman Sachs Group Inc.-backed ReNew an enterprise value of $8 billion, said the people, who asked not to be identified because they weren’t authorized to speak publicly.
An $855 million private placement to support the transaction is being raised from investors including serial dealmaker Chamath Palihapitiya, TT International Asset Management, a fund managed by BNP Paribas SA, funds and accounts managed by BlackRock Inc. and Sylebra Capital, the people said.
Representatives for RMG II, ReNew and BlackRock declined to comment. Other investors in the PIPE didn’t immediately respond to requests for comment.

pioneerpro · 23-02-2021 11:34pm

THCB also gone mad due to OshKosh US Postal contract.

pioneerpro · 24-02-2021 1:19pm

Absolutely *wild* 12 hours for DA's

RMGB as per above (Probably Chamath PIPE)
RTP going with Joby
RAAC going with Berkshire Grey (Chamath PIPE confirmed)
DMYI going with qIon
AONE going with MarkForged

I'd say we'll see MAAC and BWAC announce fairly shortly.

cronos · 24-02-2021 5:15pm

pioneerpro wrote: »

Absolutely *wild* 12 hours for DA's

RMGB as per above (Probably Chamath PIPE)
RTP going with Joby
RAAC going with Berkshire Grey (Chamath PIPE confirmed)
DMYI going with qIon
AONE going with MarkForged

I'd say we'll see MAAC and BWAC announce fairly shortly.

Market does not appear that impressed with RTP Joby thus far. Their CEO will be on CNBC soon. Might move on that.

Wingman2010 · 24-02-2021 6:35pm

I entered GRSV (Gores Holdings V) earlier at low 10’s. It’s risen since but its still under 11 so its worth considering. It’s an Ardagh related SPAC if that interests anyone so there is some Irish interest here. A LT hold for me.

https://www.independent.ie/business/irish/ardagh-is-to-spin-out-its-87bn-cans-business-in-ny-share-listing-40125315.html

pioneerpro · 24-02-2021 6:58pm

Wingman2010 wrote: »

I entered GRSV (Gores Holdings V) earlier at low 10’s. It’s risen since but its still under 11 so its worth considering. It’s an Ardagh related SPAC if that interests anyone so there is some Irish interest here. A LT hold for me.

https://www.independent.ie/business/irish/ardagh-is-to-spin-out-its-87bn-cans-business-in-ny-share-listing-40125315.html

Yeah thats the cannery for white claw amongst others, based in Wales IIRC Not a bad hold at all

CAstudent · 24-02-2021 7:00pm

Time to ditch CCIV? Or are people holding to ticker change?

Has been depressing to watch the slide but got in at around 15 so not the end of the world for me.

pioneerpro · 24-02-2021 7:11pm

CAstudent wrote: »

Time to ditch CCIV? Or are people holding to ticker change?

Has been depressing to watch the slide but got in at around 15 so not the end of the world for me.

You'll see 35$ this week for sure imo, but it'll be swinging madly.

Wingman2010 · 24-02-2021 7:16pm

CAstudent wrote: »

Time to ditch CCIV? Or are people holding to ticker change?

Has been depressing to watch the slide but got in at around 15 so not the end of the world for me.

I won’t tell you what to do as you need to decide that yourself. But you’re making a nice profit if you bought at 15 if decide to close your stock today. I personally think this will well recover so I wouldn’t be panicking selling today. They’re big expectations with Lucid. But only you can decide what to do with your stock

cronos · 24-02-2021 7:23pm

CAstudent wrote: »

Time to ditch CCIV? Or are people holding to ticker change?

Has been depressing to watch the slide but got in at around 15 so not the end of the world for me.

Hard to watch also. But it at least appears to be holding 30 so I haven't sold anything yet. Wish it had held 40 on that bounce yesterday.

Atlas_IRL · 24-02-2021 10:18pm

cronos wrote: »

Hard to watch also. But it at least appears to be holding 30 so I haven't sold anything yet. Wish it had held 40 on that bounce yesterday.

Holding but its heading to $25,I think it's going to get massive buys soon.

cronos · 24-02-2021 10:43pm

Atlas_IRL wrote: »

Holding but its heading to $25,I think it's going to get massive buys soon.

I sold it all at 29.5 earlier. Ended about 80 or 90 percent up. If it drops low enough I'll buy again but probably with a position closer to what my initial investment was to keep some of the profits out of it. Bit worried about the market overall so need some winnings to help me break even if things go bad.

pioneerpro · 24-02-2021 11:19pm

Atlas_IRL wrote: »

Holding but its heading to $25,I think it's going to get massive buys soon.

Only 200k shares of cciv left available to short. This was market collusion again by the hedges imo. They drove a serious stop-loss raid before the bell on Friday.

Of course bring this up in the other thread and I get mocked and cries of 'muh sentiment'. The mind actually boggles. Some people have no interest in understanding the market around them.

cronos · 24-02-2021 11:29pm

pioneerpro wrote: »

Only 200k shares of cciv left available to short. This was market collusion again by the hedges imo. They drove a serious stop-loss raid before the bell on Friday.

Of course bring this up in the other thread and I get mocked and cries of 'muh sentiment'. The mind actually boggles. Some people have no interest in understanding the market around them.

How do you see the short interest? Also sounds like it would become a big WSB target. Now that GME has kicked off again part of me is thinking people just moved money into that. At the end of the GME thing the first time CCIV took off from 21 into the 30's after it. So I'm tempted to renter now if it drops to around 25 tomorrow, let's see.

pioneerpro · 24-02-2021 11:42pm

cronos wrote: »

How do you see the short interest? Also sounds like it would become a big WSB target. Now that GME has kicked off again part of me is thinking people just moved money into that. At the end of the GME thing the first time CCIV took off from 21 into the 30's after it. So I'm tempted to renter now if it drops to around 25 tomorrow, let's see.

WSB have banned SPACs so unlikely. NAKD/SNDL/NOK/AMC/GME would be the obvious choices. Might even see another run on cannabis stocks.

Short interest + % of float
https://www.marketwatch.com/investing/stock/cciv?mod=mw_quote_tab

https://iborrowdesk.com/report/CCIV

pioneerpro · 25-02-2021 12:52am

Jim Cramer on Mad Money this evening plugged both IPOE (SoFi) and Lion Electric (NGA).

He also gave a hilarious list of mostly post-merger ****e, but may explain some movement on the following

plasmin · 25-02-2021 3:16pm

AACQ
Interesting one, Origin materials have few big clients
DYOR

pioneerpro · 25-02-2021 3:27pm

plasmin wrote: »

AACQ
Interesting one, Origin materials have few big clients
DYOR

It had a fairly rough ride but its a good company; ESG space is getting a bit of a battering lately. Keep an eye on SOAC which is rumoured to be DeepGreenMetals if you like those plays, and ESG Core as Europe’s First ESG SPAC which listed recently.

Chuckie_Egg · 25-02-2021 8:20pm

I wonder are we at or past the point where there are far more spac's than there is companies for them to invest in? If that is the case then it's really down to the people behind the spac.
Also am I wrong, but the warrants for some of these spacs look very cheap. Is there a catch to them?

pioneerpro · 25-02-2021 8:40pm

Chuckie_Egg wrote: »

I wonder are we at or past the point where there are far more spac's than there is companies for them to invest in? If that is the case then it's really down to the people behind the spac.
Also am I wrong, but the warrants for some of these spacs look very cheap. Is there a catch to them?

Yep and Nope. There were 3 hot sectors getting all the attention prior to start of February, and you could basically throw a dart and get a 20% pop. Now with everything back to near-NAV pre-rumour it seems to be the case of looking really carefully at the strongest domain knowledge oriented management teams with M&A experience, and rotating into SPACs that have just had a serial filing.

So sectors like Med-devices, BioPharm, Cybersecurity and ESG are probably the better plays at the moment. FinTech conversely is trading sideways, but there's a number of great post-DA companies there that are worth holding long - Payoneer chief amongst them.

As for warrants, spoke about these before - there's a massive disconnect between commons and warrants, and particularly buying units and splitting them. The big money is made from flipping warrants atm around the 2-2.50$ mark.

cronos · 25-02-2021 9:16pm

I think it's become more difficult to get good returns on SPAC's without market access. I've had a few that the announcements came out of hours, they popped out of hours and it was down by the time the market opened. I'm particularly annoyed by SOAC in this regard.

buyer95 · 03-03-2021 9:18pm

Bad day for FRX and CCIV. Anyone else still holding.

Kilough · 03-03-2021 10:08pm

Still holding FRX. Got in near NAV so will prob hold out.

It's the only SPAC I'm in. Can somebody explain the difference in a SPAC that's pre announced as a merger like FRX and one that's just rumour like CCIV?

Also, what happens when the new company is announced and the SP is below $10?

Is there any good reading I could do on warrants, calls, units etc? Some interesting chat in this thread on these topics, I'd like to learn more on it.

cronos · 03-03-2021 10:40pm

buyer95 wrote: »

Bad day for FRX and CCIV. Anyone else still holding.

To be fair I think it was a bad day for almost everything in the market that has been doing well the last year or so. I'm keeping an eye on CCIV for a reentry myself. Although I only really want to pay what I did the first time around which is in the teen's. Not sure it will drop that far but if it does I'm going back in.

crushproof · 03-03-2021 10:48pm

buyer95 wrote: »

Bad day for FRX and CCIV. Anyone else still holding.

Stupidly still holding CCIV, vaguely hoping it gets back to 30 so I can get out.

SPACs

Comments