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clock Created with Sketch. 06/03/23
16:17
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Originally posted by annep:
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An interesting case study in SPAC mergers is Security Matters (SMX). 99.5% shares of the SPAC were redeemed leaving the princely sum of ~US$2.08M in the SPAC. SMX has spent $11M on the proposal's documentation! Both SMX and CBR's respective merged entities are to be incorporated in Ireland giving rise to the application of Irish law, CGT etc
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yep the high valuation must be a big driver of redemptions. i wonder if it would have been more successful if the pre-money valuation was lower? head in the sand stuff it seems.
