SPAC merger companies - alternative to IPO

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Haven’t encountered others yet, but they’ll probably start following now that the merger is complete. $28 sounds more accurate than the current level.

Yesterday’s drop was apparently PIPE investors cashing in on profits.

"Baird analyst Tristan Gerra initiated coverage of Velodyne Lidar (VLDR) with an Outperform rating and $28 price target. the analyst noted the company is a pure play and market share leader in lidars, with unmatched product breath, strong portfolio of proprietary technologies, a strong design win pipeline supporting revenue growth, and strong engagements with Tesla (TSLA)."

Elon seemed to have a completely different opinion on the use of Lidar though :joy:

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I don’t quite fully understand the logic behind HCCHW warrants being up today.

If the votes fall short tomorrow, these will be completely worthless. Does someone have better information on the voting situation, or do people just not know where to put their money?

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It seems like a comprehensive green day will bring its share to HCCH as well. And the approaching merger, once funds from the end of September targets have been released. The common share has also risen for a couple of days.
I would personally refrain from buying warrants right now - at least without better information about the vote passing :man_shrugging:

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https://finance.yahoo.com/news/first-blank-check-etf-makes-040100076.html
An ETF that invests in SPACs was launched today. It can be found on Nordnet, for example, under the ticker symbol SPK! FB_IMG_1601584214623|600x500

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At first glance, it sounds like a bad idea – only a few SPACs are worth investing in, so a lot depends on what is included in the ETF and how actively its content is managed.

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It was mentioned there that it’s passively managed and the content is weighted by market capitalization, so 80 percent is like DraftKings, etc. Only 20 percent are new, still looking for a target company.

I definitely won’t be investing in that myself, as it’s more fun to seek excitement by buying those ten-euro lottery tickets and then selling them if the target isn’t to my liking.

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For other Nordnet customers, is EX.SHLL, which changed to ticker HYLN today, visible? Something suspicious with my AOT as it disappeared completely…
Earlier today, HYLN was visible.

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SHLL changed to HYLN today. At least temporarily… It was a shock to lose 10% of my assets when the stock went down. Then I realized that there’s probably still some tweaking to do with the ticker change.

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I was just about to ask the same thing. SHLL disappeared completely from my portfolio, and my money went with it. :bomb: There’s no sign of the new Hyliion Holdings anywhere.

So as not to go completely off-topic. Kettunen probably knows what time the results of the Fusion Fuel vote will be announced, did it pass? It’s exciting, isn’t it! Line, so in 10 minutes.85A344B2-08A7-446F-8D60-6A85583F0884

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The results should have been ready by 9:00 a.m.

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Yeah, luckily I had a pillbox nearby :grinning_face: now it’s been fixed to nordet. I don’t know if it had an effect when I messaged them.

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Nothing yet from HCCH, I haven’t come across any online info that I could have followed. I wouldn’t have been at the computer anyway :grin: As for the stock price, no abnormal signs of life, and the warrants are around $2. SEC filings: Redirecting...
A publication will probably come at the end of the day :man_shrugging:

HYLN seemed to have dug quite a hole at the beginning of the day and looks like a repeat of GRAF / Velodyne. However, SHLL/HYLN PIPE financiers don’t have the opportunity to sell yet, so the dip is apparently expected 180 days out (source: some social media site…, more details in SEC filings). Sellers can still be found, the merger has been awaited and after that, investments are being turned into cash.

Velodyne also seems to have found a bottom, at least for now. Hopefully, it was a harder base from which it could rebound back above $20. The plan was to take some profits and move on to something new. Now, the entire VLDR pot is waiting for better times, and free capital for new moves is scarce.

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$HCCH just submitted an 8-K filing stating that the extension passed! :cowboy_hat_face:

The following is a tabulation of the votes with respect to this proposal, which was approved by the Company’s shareholders:

https://www.sec.gov/Archives/edgar/data/1736874/000121390020029844/ea127747-8k_hlacquisition.htm

4,606,759 shares voted for, out of 6,560,751 outstanding shares. So we got slightly over 70% of the votes.

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Shares Outstanding 6,561,251
For 4,606,759

70.21% voted in favor (65% was required to pass).

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Yeah, I just managed to dig out those votes from the papers at the same time :grin:

But was this the reaction now? The course stays put. Oh my god, it was a useless risk to sit with a couple of thousand shares over that vote, when I could have bought at yesterday’s prices after 8-K.. At least I saved one trading fee :joy: :joy:

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VTIQ → NKLA: it took about 2-3 weeks from the merge before the crazy peak day of 93 USD.

Oh, and also back then, there was a bit of fumbling around with the brokers before everything showed up correctly :slight_smile:

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Commenting on the results of the meeting, Jeffrey Schwarz, HL’s Chairman and CEO said, “we are pleased with the strong support our shareholders have provided, with approximately 99.9% of the votes cast for approval of the Extension Amendment Proposal. I know the logistics of the voting process presented a challenge for some of our European shareholders, many of whom went to great lengths to vote, and if unable to do so, to at least convey to us their support for the proposal. For these efforts we are most grateful.

Sulta tais tulla noita lippulappu ohjeita että kiitos sinnekkin.

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I came across this battery manufacturer on Twitter. Has anyone had a chance to look into it yet?
$RMG

Bloomberg) – Romeo Systems Inc., a maker of batteries for electric vehicles, is in advanced talks to go public through a merger with blank-check company RMG Acquisition Corp., according to people familiar with the matter.

The combined company’s equity value is slated to be about $1.4 billion, said one of the people, who asked to not be identified because the matter isn’t public. RMG has held talks with investors about raising $150 million in equity to support the deal, said another person.

A deal could be announced as soon as Monday, said one of the people. But as with all deals that are yet to be finalized, talks could still collapse.

Representatives for Vernon, California-based Romeo declined to comment. Representatives for RMG didn’t respond to requests for comment.

Romeo, led by Founder and Chairman Michael Patterson and Chief Executive Officer Lionel Selwood Jr., supplies batteries to electric vehicle maker Nikola Corp., the Financial Times has reported.

The company does business as Romeo Power Technology.

RMG, led by Chairman D. James Carpenter, CEO Bob Mancini, and President Philip Kassin, raised $230 million in an initial public offering last year.

https://finance.yahoo.com/news/battery-maker-romeo-talks-public-190647242.html

Old news about Romeo
https://electrek.co/2019/05/07/borgwarner-battery-packs-romeo-power-tesla-spacex/

Nikola batteries seem to come from Romeo
https://www.ft.com/content/dc4b3e05-bf7c-482c-9241-5296dfb1d7b5

Supplies batteries to BorgWarner

So

Nikola uses Romeo batteries in prototypes at least

BorgWarner supplies batteries for hybrids and electric cars. I couldn’t find car manufacturers they supply to… Romeo’s battery pack is on BorgWarner’s website.

Need to investigate more next week, and I’m sure more info will come if this isn’t just a rumor.

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There have been very few publications on their website (something small for Komatsu in 2018). It’s not very convincing. The best strategy would probably be to sell into a potential bounce if you already own it, but there’s a big risk of a bag hold if you buy after the news.

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