I've seen a few of these deSPACs. I guess the challenge is - where's the upside? Net cash of $2.33 versus share price of $2.0. You can make 15% on a gross basis, but you have to deal with the interim cash burn and any costs associated with the liquidation. They are burning roughly $0.30 per 12 month period, so the upside goes away pretty quickly. Feels like you need a much bigger discount.
Feb 7, 2022
at
3:59 PM
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