I Love a Good SPACing, Update!!!
Hello fellow Inner Circle members and non members alike.
As you may know, I love a good SPACing! About 6 months ago I made a post about my new positions in some SPACS to IPOs, and here’s an update on how these are turning out for me so far.
Let’s start with the beginning tickers. Or, to review the original post, here it is:
https://www.reddit.com/r/InnerCircleInvesting/s/n7SsYn3h1u
For simplicity, here are the SPAC to IPO (tickers), my entry price per share (EPPS) and current $$ value per share (CVPS) and current gain/loss%. (GL%). The formula looks like this:
SPACtoIPO/EPPS/CVPS/GL%
CCCX to INFQ / $14.51 / $12.62 / -10.78%
CHAC to XNDU / $10.42 / $14.65 / +30.99%
GSIT to NKLR / $5.05 / $5.91 / +17.01%
WLAC to BRUN / $12.75 / $29.60 / +132.14%
And the most interesting SPAC so far,
GIG7 to HDRN: This SPAC did not merge on the first attempt, but instead, the companies involved re-evaluated the financials and fair/market value considering many factors that were preventing the merger. Here’s the story.
GIG to HDRN: (ongoing, adjusted)
Average of $11.00 share reduced to 4.80 per share.
Key Details of the Merger
* The Structure: The transaction involves MMR Merger Sub, Inc. merging with and into Hadron Energy, with Hadron Energy surviving as a wholly-owned subsidiary of GigCapital7.
* Shareholder Approval: Shareholders officially approved the business combination.
* Ticker Information: Upon completion of the merger and corporate domestication to Delaware, the combined entity will continue trading its common stock on the Nasdaq under the ticker symbol GIG (with warrants and units as GIGGW and GIGGU).
* The Business: Hadron Energy focuses on advancing Micro Modular Reactor (MMR) technology, specifically developing the 10 MWe Halo MMR for continuous carbon-free power.
My reaction to this SPAC, was to get out immediately when I read the news about this, so, I did not lose a penny and will take a new position when I can do more DD. I dodged a bullet on this one. It pays to keep up on stocks everyday that you own.
In conclusion, I’m quite happy with this round of my speculative SPACs, even though I’m in the red on some of these positions. As I explained before, I’m planning to hold all of these until I no longer feel good about their direction. I will update this post topic as time progresses.
Happy investing and stay tuned for some new SPACs that I’m in on, and considering.