If they had managed to keep redemptions minimal I would have thought this would have been a great deal for CBR shareholders (and a bad one for SPAC holders). Given the valuation placed on the merger the only reasonable outcome intuitively would be that most SPAC holders redeem. Seems crazy to think that any other scenario was plausible.
So if this is to go through the merged company wont have much more money, once paying for the transaction itself, than CBR prior to the merge. The only difference will be that it trades on a different exchange. To me, logically this is where it was always going to land. If its simply a change of exchange I would question why the valuation will change? Anyone have any thoughts based on whats known now?
It feels like CBR were really trying to "reinvent the wheel" with the deal, but they'd already done that with their product!
CBR Price at posting:
11.5¢ Sentiment: Hold Disclosure: Not Held