SPAC Mergers are Passing, but Watch Out for Redemptions

Shareholder approval of SPAC mergers are almost a check-the-box formality these days, provided SPAC sponsors can get enough of a quorum to actually pay attention and vote their shares. However, important to note that shareholders can both a) vote in favor of a merger AND b) redeem their shares at the same time. Historically it was a common trade: buy SPACs at IPO, redeem shares at merger and hang onto warrants for the option value and upside. READ MORE