If @BillAckman manages to get sparc approved the $psthw could be very lucrative - the existing warrants basically convert to sparc warrants with a 23.00 strike and a 5 year term. Disclosure: I own about 35000 $psth shares and 70 leaps. Not advice, just observation.
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Replying to @purple_mattress @NPIRACKS
Nothing left to do but hold for the warrants and cash redemption. I’m holding. I’ll be happy to have some cash back and warrants in my pocket if sparc gets approved.
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Hello guys. Is there value in the warrants still? I’m confused as they are trading as if the deal is completely off the table. If there is a chance I think PSTHW is worth a small gamble.
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Yes, if sparc is approved, psthw will probably triple overnight. Because I sold my share for a loss, I can’t buy warrants for like 25 more days.
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Interesting, you think it’s a shot in the dark for the approval? And how long will we have to wait to find out? Sorry it’s been a while since I’ve followed this mess haha
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I think Bills letter today made it pretty clear. He’s not giving up and he owns warrants that he paid like 65m for. It’s a leveraged gamble. For the first time, the warrants are very interesting to me.
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Might be worth 10-20k down here to toss on. How lengthy of a process is this?
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No idea, probably have a good idea by end of September. It’s never been done before… and the letter said there needed to be a rule change.
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Agree, I will revisit after IPO of UMG, and see if we get an S-1 from SPARC filing/NYSE rule change. See ya in October Peeps. GL
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