@ReeceLongwell $CCIV spent 2.1m on legal fees in 2020. Looks like $PSTH is on track to spend as much or more in the same duration.
@BillAckman is gonna deliver something good, just needs time.
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I would hope it means progress at least. I feel like you don't spend 2 million bucks on legal fees getting nothing done.
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Yes- that is a large sum and doesn't include anything in Q1. IPOE (Sofi) lost 600K in 2020. so 2-3M is a lot for a spac. CCIV was massive as well and they spent 2.1M in 2020.
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Replying to @purple_mattress @ken_kene927 and
Loss from ops (should contain legal fees) PSTH =$2,831,597 CCIV (hard rumor & up 200%) = 2,150,718 Kensington capital (now QS & up 400%)=1,538,223 IPOE (nothing burgers) = $663,611 Appears we are in good company & the merger is imminent or at least one "almost" took place.
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I would also guess that Bill hires only top tier and his DD might be more thorough. I wouldn't be surprised if legal fees or 5-10M by end of Q1 if there is indeed deep negotiations and DD happening. Also, if there is significant complexity Money goes bye.
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