Great article. We have mentioned this risk/reward dynamic with SPACs to our investors over the years. We aim to buy SPACs trading below trust value, that way the r/r dynamic is “heads you win a bit; tails you win a lot”.
Great read! I am wondering though if you are speaking about the units where the the stock and warrants are combined or purely the stock piece when you are looking at it as a cash equivalent
I was just looking at SPACs the other day for this very reason. That and biotech both look neat rn …although I prefer broken SPACs trading way under NAV
I'm tracking this sector again as well, but curious to see where deals will come from if the crypto treasury theme starts to cool down. Maybe some of the smaller private AI or robotics companies? Perhaps we'll see VC / PE funds start to offload some older bags as well...
Great article. We have mentioned this risk/reward dynamic with SPACs to our investors over the years. We aim to buy SPACs trading below trust value, that way the r/r dynamic is “heads you win a bit; tails you win a lot”.
RTAC now trading close to that 3% premium to trust value (10.55 vs 10.18). Are you taking any action Andrew?
Thanks again sir. Always enjoy the ideas, even if I don't act on them.
Thanks for your thoughts Andrew.
Wow, that's just great!
Thank you very much, is there really an ETF that holds SPACKs before the IPO? I'd love to hear examples!
Great read! I am wondering though if you are speaking about the units where the the stock and warrants are combined or purely the stock piece when you are looking at it as a cash equivalent
I was just looking at SPACs the other day for this very reason. That and biotech both look neat rn …although I prefer broken SPACs trading way under NAV
I'm tracking this sector again as well, but curious to see where deals will come from if the crypto treasury theme starts to cool down. Maybe some of the smaller private AI or robotics companies? Perhaps we'll see VC / PE funds start to offload some older bags as well...