|SPAC warrants give you the right to purchase a set of shares of stock at a specified price in the future after the completion of a merger. SPAC warrants are commonly misunderstood instruments, but ...
Spanish 2 quizlet chapter 1

Best dash cam for subaru crosstrek

Spac warrants vs shares

DWAC, the Trump Social-Media SPAC, Could Make Its Backers $440 Million SPAC's creators and other insiders could earn a big paper profit if the stock stays at current levelsJan 22, 2021 · Senvest already has $160 million invested in the U.S. cannabis space and is an anchor investor in Weedmaps. Caltabiano and Senvest are sponsoring the SPAC via separate investment vehicles. Together, they intend to purchase $5 million worth of sponsor warrants, priced at $1 each, according to the preliminary prospectus. uBlock Vs Adblocker. More ad blocker comparisons. However, for beginners, the option is there to securely encrypt emails using a "shared secret" password system. Unfortunately, Swiss authorities have recently served the firm with warrants to provide data in ongoing criminal cases, and as such...Special purpose acquisition companies (SPACs) are an underappreciated asset class and present compelling risk/reward opportunities.WPS Office for web. Share and co-edit. Enter. Select better templates for you.Warrants are a popular feature that are offered in most blank-check IPOs. These instruments are sold to early-stage investors, granting them the right to buy additional shares at a preset price ...

Share. 5.8k shares. MailOnline has contacted Britain's drug watchdog — the Medicines and Healthcare products Regulatory Agency — to ask if it is also probing the claims. Ms Jackson - a trained clinical trial auditor with 15 years' experience - was employed by Ventavia to oversee its trials at the start of...a fraction of a warrant). The 'Class A' shares and warrants are then traded on a public market (either separately or as a combined unit). • Warrants to acquire 'Class A' shares purchased by the management team or sponsor, separately from the IPO. A SPAC's IPO is typically supported by an investment thesis indicating, for example, theFor example, DGNS did not provide warrants. What Is A SPAC Common Or SPAC Stock Or SPAC Share. Around 50 to 60 days after the SPAC's IPO, the common stock (Shares) and Warrants included in SPAC Units become separable. The Warrants and Shares are now listed separately with the unseparated Units.There are certain tradeoffs to choosing a de-SPAC over an IPO. For one, the target equity holders will suffer a measure of dilution on account of the founder shares and private placement warrants in the surviving company held by the sponsor and any PIPE investors, and on account of the warrants issued to the SPAC IPO investors.4 warrants : 3 stock @ $11.50 strike each. 2 warrants : 1 stock @ $11.50 strike. *note: PSTH has a strike of $23 because of the 2x scaling of the SPAC. The rest of the SPACs can be exercised at $11.50 per share. Each SPAC has a different ratio, so it is very important to verify which you are buying before you buy.composed of 1 share and 1 warrant. Warrants are convertible into 1/3 of a share of common stock. Per written agreement, Founders purchase 20,000,000 private placement warrants for $10,000,000 . SPAC Acquires Target for $400,000,000. Founders now own 20% of Opco Shares, Investors own 80%. All outstanding warrants are exercised and converted intoFeb 27, 2021 · But you don’t when you buy SPAC shares in the open market. Warrants give IPO investors the right to buy a share at a pre-arranged price. It’s often $11.50 for SPACs that come public at $10 ... SPAC risks. SPAC transactions come with their own set of unique challenges, and it is essential for entities to have (1) an understanding of the risks associated with these investment vehicles and (2) a comprehensive project management plan to meet the demands of an accelerated merger timeline. Recent market volatility, combined with the ...

What is earth and planetary science
Thank you for your quote but unfortunately
Solar water heater dwg

Assuming it is a hot SPAC and you are bullish. There are generally two ways to invest: Buy the warrants if you have high risk appetite. Do an intrinsic value calculation, using (current Share price - 11.50), and divide it with warrant:stock ratio. If the warrant price is lesser, get the warrant instead of stock.,Should you buy shares or warrants!? Here's a tutorial on how SPAC units, shares and warrants work and what strategies I use depending on what I'm trying to d... Board of Supervisors Appoint New Representatives for Districts 8 and 11. County Public Health Department Reports First West Nile Virus Death in 2021. Magma Road Opens in San Tan Valley Creating Important New Route Between Hunt Hwy and Gary Road. Pinal County to Resume Issuance of Open Burn Permits Begining October 1, 2021. When you buy SPAC stock, it's commonly at $10 a share and a partial or full warrant. What is a SPAC warrant? A SPAC warrant gives you the right to purchase common stock at a particular price. For example, let's say you get a warrant for $12 at a 1:1 ratio. That means one warrant equals one share.Class A common and Warrants trade separately starting soon after the IPO (usually 52 days post-IPO) Warrants generally become exercisable 1-year post-IPO or, if earlier, after the de-SPAC has occurred - Sponsors normally buy Founder Shares at the time of formation, which typically represent 20% of the SPAC's commonBenessere Capital Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Miami, Florida. 3.However, they also disclosed that shareholders elected to redeem ~26% of shares, or around $90M, in connection with the merger. FAII will trade as ATIP on NYSE tomorrow, 6/17. UpHealth, the SPAC f ...share announcement question_answer thumb_up. The rationale for this action was that the pandemic was such a ubiquitous and dangerous threat that it warrants exceptional measures.The units sold in a SPAC IPO typically comprise one share of common stock and a warrant to purchase one-half of one share of common stock in the future . The warrant s, which become exercisable shortly after the SPAC acquires an operating company, are issued with a strike7800 Shoal Creek Blvd. Suite 230-S Austin, TX 78757 (512) 693-4199, ext. 6102

Each $10.00 UNIT = 7 shares of stock + 7 $1.00 Warrants Via zionoil.com or regular postal mail only. Friday, March 31, 2017. From May 1, 2017 to May 1, 2020. If the closing price of ZN Common Stock trades at or above $5.00 per share for 15 consecutive trading,In recent years, investors expect sponsors to have "skin in the game" by purchasing additional founder warrants or shares in a private placement. This funding covers the SPAC's IPO expenses and operating costs while seeking a target so that 100% of the IPO proceeds remain in the trust. ... In general, if the SPAC share price trades materially ...Bitcoin miner to go public on Nasdaq after $4B SPAC merger. The newly merged corporation will retain its ticker symbol, BSGA, on the Nasdaq stock exchange, and Jihan Wu will continue to lead the combined organization.A Shareholder holding 100,000 shares will get 70,000 free share purchase warrants. A shareholder holding 150,000 shares will get 105,000 free share purchase warrants. Shareholders are invited to notify SPAC of their total ownership of shares by 24 Nov. 2021 by email and the shareholders must submit their certificate of ownership to SPAC by 26 ...Jul 09, 2021 · A SPAC, also known as a blank check company, bears some resemblance to an initial public offering (IPO), which … Continue reading → The post SPAC vs. IPO: Key Differences appeared first on ... Virgin Galactic Holdings, Inc. (NYSE: SPCE; SPCE.WS; SPCE.U) ("Virgin Galactic" or "the Company"), a vertically integrated aerospace company, today announced that the Company will redeem all of its outstanding warrants (the "Public Warrants") to purchase shares of the Company's common stock, par value $0.0001 per share (the "Common Stock"), that were issued under the Warrant ...Only whole warrants are exercisable. If one SPAC unit consists of 1/3 of a warrant, a holder needs to hold three units (or three fractional warrants) in order to purchase an additional share of Class A common stock. The exercise price of the warrants is typically 115% of the unit price (i.e., $11.50 per warrant). The warrants typically become ...If one only owns the common shares, no warrants come into play. Acquire SPAC shares at a discount to NAV as they head to liquidation. This is a straight rate-of-return trade, in which an investor earns the underlying treasury yield plus the NAV discount up to the SPAC's liquidation. If a SPAC doesn't announce a deal before its deadline, or ...Swarm in the news. Grow with Swarm. We're actively looking for teammates that share our passion for shaping global connectivity.Based on recent conversations with the Office of the Chief Accountant at the SEC, we understand warrants that are commonly issued in connection with a SPAC's IPO should be classified as liabilities under US GAAP. This will require the warrants to be remeasured at fair value through earnings each period. To the extent such warrants have been previously classified within equity, an entity will ...

Nov 18, 2021 · In October 2020, the SPAC announced the closing of its IPO, which featured the sale of 55 million shares at $10 per unit. UBS Securities and BTIG acted as joint bookrunners for the deal. ,Utility warehouse email addressThe SPAC deal announced in October would create a social media app called TRUTH Social, which Mr Trump said would "stand up to [other] Big Tech" companies. The move came nine months after Mr Trump was banned from several social media platforms for his alleged role in the 6 January US...The easiest way to book meeting rooms, event venues, filming locations & more. Explore 13,000+ spaces, read unbiased reviews, and find a space near you.Mar 09, 2017 · Based on the decision of the Allahabad bench of ITAT in DCIT (OSD) vs. Brijlaxmi Leasing & Finance Ltd, the bench held that the first appellate authority rightly held that the amount of Rs.94.80 lacs received as share application money for issuing of share warrants as capital receipt and not revenue receipt as it was not earned from regular ... Suppose that, without the warrant issuance, the share price is St at the warrant's maturity. This means that (with or without the warrant issuance) the total value of the equity and the warrants at time T will be N*St. If the warrants are exercised, there is a cash inflow from the strike price increasing this to N*St + M*K.Xos Shares Replay of ICR De-SPAC Webinar. LOS ANGELES, July 14, 2021 -- ( BUSINESS WIRE )--Xos, Inc. ("Xos" or the "Company"), a leading manufacturer of fully electric Class 5 to Class 8 ...The warrants for this SPAC stock trade for $8.72 since the underlying stock, DiamondPeak Holdings are at $21.10. As with all SPAC warrants, the exercise price is $11.50. Therefore, the intrinsic ...SPAC Research maintains a company page for each outstanding SPAC, with up to date details including: Terms of outstanding units, warrants, rights and other derivatives. Details on insiders, initial shareholders and underwriters. A Timeline of Selected Events with material SEC Filings and press releases. If your broker has an allocation available, you can buy shares of the SPAC. Almost every SPAC IPOs at $10 per share for the sake of tradition. Sometimes warrants and other securities are offered to sweeten the deal. If you purchase shares, your money is used by the sponsors to buy a private company and bring it public.

This website uses cookies to analyze our traffic and only share that information with our analytics partners. If the submitter prefers to have their data stored anonymously and even go as far as submitting the data anonymously, then it will have to be classified as "unverified" vs. "verified".,Vw t2 high top for saleThe performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost.In its IPO, the SPAC offers units, with each unit comprising one share of common stock, typically designated as "class A" shares, and either a fraction of a warrant to purchase a share of ...Oct 19, 2021 · SPCE Stock Technical Analysis. Shares were building a deep cup-with-handle base with a 57.61 buy point, but lost support at the 50-day line while finding support at the 200-day line. The stock ... SPAC IPO investors tend to be a group of very savvy hedge funds, sometimes referred to as the "SPAC Mafia", and other large institutional investors. The key feature driving these flows is the right to redeem their shares. In its IPO, a SPAC sells a 'unit' consisting of a share, a warrant, and in some cases, a right to a fraction of a share.consist of a common share and a warrant2), and the proceeds raised are held in an interest-bearing trust until a target is acquired or the SPAC is liquidated because it fails to complete a business combination by a set date. After an IPO, the units are separated into shares of common stock and tradable warrants.SPAC mania gives way to 'meh' as ETFs drop toward all-time lows. Canadian issuer is making its Bitcoin ETF carbon-neutral. Christine Poole discusses Sienna Senior Living vs. Chartwell Retirement Residences. His wager on a bank's shares sent the price rocketing before the lender raised capital.Nov 18, 2021 · In October 2020, the SPAC announced the closing of its IPO, which featured the sale of 55 million shares at $10 per unit. UBS Securities and BTIG acted as joint bookrunners for the deal. Special purpose acquisition companies ('SPACs') issue Units composed of one share of Series A Common and a fractional warrant to buy one share of Series A common stock at an exercise price of $11 ...SPAC (Special Purpose Acquisition Company) Statistics. Includes a summary of total SPAC IPO transactions by year, $ volume, IPO count, total gross proceeds and average IPO size. Additional stats include an Annualized Rate of Return for both the share and the sum of the unit securities.

Each unit comprises one share of common stock and three-quarters of a warrant containing an exercise price of $11.50. A blank cheque company, also known as a special acquisition company (SPAC) exists solely for the purpose of taking another firm public - through a merger, acquisition or other transaction vehicle - and has no conventional ...,Mar 09, 2021 · In issuing a search warrant, under the rules, there has to be the following: 1. probable cause; 2. probable cause must be personally determined by the judge; 3. the judge must examine in writing ... Aug 06, 2020 · Lordstown Motors is the latest high profile company that plans to go public through a merger with a special purpose acquisition company. These types of so-called blank check deals used to be an ... Typically after the first 45 days of the SPAC IPO, the common shares and warrants are introduced to be traded independently. Starting at this point, investors have the choice to split their units ...For example, DGNS did not provide warrants. What Is A SPAC Common Or SPAC Stock Or SPAC Share. Around 50 to 60 days after the SPAC's IPO, the common stock (Shares) and Warrants included in SPAC Units become separable. The Warrants and Shares are now listed separately with the unseparated Units.A SPAC investment presents the opportunity for additional upside through the exercise of warrants if there is a successful business combination; To learn more about how a SPAC works, view the SPAC Product Sheet and the FAQ. You can also read more in the comprehensive legal Nasdaq Nordic Main Market Q&A.2 days ago · What's more, the SPAC-related errors were largely attributable to warrant misclassifications. In addition, according to a study by Audit Analytics, the increase in SPAC transactions and the SEC's April statement on SPAC warrants led to a number of adverse internal control assessments related to debt and/or equity classification. Audit Analytics ... When you buy SPAC stock, it's commonly at $10 a share and a partial or full warrant. What is a SPAC warrant? A SPAC warrant gives you the right to purchase common stock at a particular price. For example, let's say you get a warrant for $12 at a 1:1 ratio. That means one warrant equals one share.Certain SPAC warrant agreements contain a provision which effectively permits the issuer to force the exercise of the public warrants, and in many cases the private placement warrants, on a net share basis if the stock price of the issuer equals or exceeds $10.00 for a specified period. The number of shares of common stock issuable by the ...The warrants have a strike price in excess of the IPO price and typically become excisable for additional Class A Shares 30 days following the De-SPAC Transaction. After a fixed period of time following the IPO, the SPAC units are decoupled and the Class A Shares and the warrants can be traded separately on the secondary market.However, they also disclosed that shareholders elected to redeem ~26% of shares, or around $90M, in connection with the merger. FAII will trade as ATIP on NYSE tomorrow, 6/17. UpHealth, the SPAC f ...

In fact, it's typical for a SPAC to combine with a company that's two to four times its IPO proceeds in order to reduce the dilutive impact of the founder shares and warrants.,Typically, the SPAC management team is not compensated. The sponsor receives a 20% equity carry in the SPAC (e.g., shares equal to 25% of the shares sold in the SPAC IPO) and additional securities purchased by the sponsor in exchange for the sponsor capital.The warrants have a strike price in excess of the IPO price and typically become excisable for additional Class A Shares 30 days following the De-SPAC Transaction. After a fixed period of time following the IPO, the SPAC units are decoupled and the Class A Shares and the warrants can be traded separately on the secondary market.The private securities of a SPAC can consist of sponsor shares, private warrants, class B shares, and PIPE investments. Sponsor shares are issued to the sponsors/founders of the SPAC for a minimal cost of generally $25,000. The sponsors/founders will also generally purchase private warrants for a typical purchase price of $0.50 to $1.50 per ...Common Stock Warrants, News-Blog, SPY, stock warrant list, stock warrants database / By Common Stock Warrants September 11, 2020Chris VermeulenTheTechnicalTraders.com RESEARCH HIGHLIGHTS: Over the past 28 years, the SPY has gained an average of 3.45% in 15 of those years; it has fallen by 6.42% in the other 13 years. Share on Facebook. Share on Twitter. Copy Link. Plant vs Undead Token (PVU) is on a downward monthly trajectory as it has decreased -72.7% from ₱78.96 since 1 month (30 days) ago.Typically fifty-two days after the SPAC IPO, the SPAC common stock and the warrants begin to trade separately. You should be aware of the unit to warrant ratio, which is listed in the S1 filing. The unit to warrant ratio is usually one half or less of a warrant (e.g. one half, one third, one fourth, etc.).

Special purpose acquisition companies ('SPACs') issue Units composed of one share of Series A Common and a fractional warrant to buy one share of Series A common stock at an exercise price of $11 ...,PSTH SPAC warrants can expire in a few ways. The first is, like other SPACs, if the SPAC terminates before a merger. The next two terms are unique to PSTH SPAC warrants. If the shares trade $36 or more for 20 out of 30 trading days, the warrants can be redeemed by management. If the price per share equals or exceeds $20 for 20 out of 30 trading ...Nov 18, 2021 · In October 2020, the SPAC announced the closing of its IPO, which featured the sale of 55 million shares at $10 per unit. UBS Securities and BTIG acted as joint bookrunners for the deal. When a SPAC enters the public market, investors can buy a unit for as low as $10.00. A unit consists of a common share and a warrant. A common share is a normal share of the company and is relatively stable. A warrant is more volatile but will provide the investor the option to buy a share at a discounted price post-acquisition.Certain SPAC warrant agreements contain a provision which effectively permits the issuer to force the exercise of the public warrants, and in many cases the private placement warrants, on a net share basis if the stock price of the issuer equals or exceeds $10.00 for a specified period. The number of shares of common stock issuable by the ...In recent years, investors expect sponsors to have "skin in the game" by purchasing additional founder warrants or shares in a private placement. This funding covers the SPAC's IPO expenses and operating costs while seeking a target so that 100% of the IPO proceeds remain in the trust. ... In general, if the SPAC share price trades materially ...May 14, 2020 · Warrant holders most likely won't have the opportunity to use cash to outright exercise the warrants if the stock closes above $18 during 20 days or more in a 30-day trading period. That $875 million very likely comes in the form of 87.5 million shares valued at $10 based on DWAC's stock price at the time of the announcement and that essentially all SPAC merger deals value ...For example, DGNS did not provide warrants. What Is A SPAC Common Or SPAC Stock Or SPAC Share. Around 50 to 60 days after the SPAC's IPO, the common stock (Shares) and Warrants included in SPAC Units become separable. The Warrants and Shares are now listed separately with the unseparated Units.Learn the definition of Ability vs. capability vs. capacity & other commonly used words, phrases, & idioms in the English language. Learn more! But capacity—which is extended figuratively in the senses it shares with the other verbs—has special uses it doesn't share with the others.While this involves selling shares below market ($11.50 vs. $18.00 or more), this is a "sunk" cost. Looking at it as a capital raise, the warrant exercise is comparable to the following two-step process: (1) sell shares in a new primary offering and (2) deliver the intrinsic value of the warrants to investors on a cash-less, net-share basis.Jan 08, 2021 · They split into common shares and warrants. Each SPAC unit is a combination of one share, and a certain fraction of a warrant. Some cases it's half, some cases it's a quarter. SPAC mania gives way to 'meh' as ETFs drop toward all-time lows. Canadian issuer is making its Bitcoin ETF carbon-neutral. Christine Poole discusses Sienna Senior Living vs. Chartwell Retirement Residences. His wager on a bank's shares sent the price rocketing before the lender raised capital.Policy Networks vs Value Networks in Reinforcement Learning. In Reinforcement Learning, the agents take random decisions in their environment and learns on selecting the right one… Your home for data science. A Medium publication sharing concepts, ideas and codes.

But you don't when you buy SPAC shares in the open market. Warrants give IPO investors the right to buy a share at a pre-arranged price. It's often $11.50 for SPACs that come public at $10 ...,SPAC units generally trade by themselves until 52 days following the IPO, at which time the units split into the common shares and warrants and get traded separately. Once the units split, retail investors can access these instruments on platforms such as Freetrade. ‍ The capital raised via the IPO is deposited in a blind trust until the SPAC ...In its IPO, the SPAC offers units, with each unit comprising one share of common stock, typically designated as "class A" shares, and either a fraction of a warrant to purchase a share of ...The Fund may seek to sell SPAC warrants. Warrants are options to purchase common stock at a specific price (usually at a premium above the market value of the optioned common stock at issuance) valid for a specific period of time. Most warrants have expiration dates after which they are worthless.Each $10.00 UNIT = 7 shares of stock + 7 $1.00 Warrants Via zionoil.com or regular postal mail only. Friday, March 31, 2017. From May 1, 2017 to May 1, 2020. If the closing price of ZN Common Stock trades at or above $5.00 per share for 15 consecutive tradingJan 08, 2021 · They split into common shares and warrants. Each SPAC unit is a combination of one share, and a certain fraction of a warrant. Some cases it's half, some cases it's a quarter. The remaining ~80% interest is held by public shareholders through "units" offered in an IPO of the SPAC's shares. Each unit consists of a share of common stock and a fraction of a warrant (e.g., ½ or ⅓ of a warrant). Founder shares and public shares generally have similar voting rights, with the exception that founder shares usually ...4 warrants : 3 stock @ $11.50 strike each. 2 warrants : 1 stock @ $11.50 strike. *note: PSTH has a strike of $23 because of the 2x scaling of the SPAC. The rest of the SPACs can be exercised at $11.50 per share. Each SPAC has a different ratio, so it is very important to verify which you are buying before you buy.

Swarm in the news. Grow with Swarm. We're actively looking for teammates that share our passion for shaping global connectivity.,PSTH SPAC warrants can expire in a few ways. The first is, like other SPACs, if the SPAC terminates before a merger. The next two terms are unique to PSTH SPAC warrants. If the shares trade $36 or more for 20 out of 30 trading days, the warrants can be redeemed by management. If the price per share equals or exceeds $20 for 20 out of 30 trading ...Stock Warrants vs. Stock Options: An Overview . ... If a company sells shares at $100 but a warrant is just $10, more investors will exercise the right of a warrant. These warrants are a source of ...Should you buy shares or warrants!? Here's a tutorial on how SPAC units, shares and warrants work and what strategies I use depending on what I'm trying to d...SPAC IPO investors tend to be a group of very savvy hedge funds, sometimes referred to as the "SPAC Mafia", and other large institutional investors. The key feature driving these flows is the right to redeem their shares. In its IPO, a SPAC sells a 'unit' consisting of a share, a warrant, and in some cases, a right to a fraction of a share.Imagine a billion-dollar SPAC with 100 million shares, each sold for $10, and 25 million warrants, given away for free with the shares. When it acquires a target company, it will give the target ...

The remaining ~80% interest is held by public shareholders through "units" offered in an IPO of the SPAC's shares. Each unit consists of a share of common stock and a fraction of a warrant (e.g., ½ or ⅓ of a warrant). Founder shares and public shares generally have similar voting rights, with the exception that founder shares usually ...,An up-to-date calendar with all of the announced shareholder meetings (extension and merger) and unit split dates. Market Stats. Aggregates the SPAC Track data in real time and shows a breakdown of the SPAC asset class by status, trust size, and target. Sponsor Tracker. Tracking the records of repeat SPAC sponsor groups.But share prices might have dropped in the meantime — meaning everyday investors could lose money on a deal they didn't get any say in. There's more. As an incentive to invest pre-IPO, institutional investors get warrants. Let's say they bought a thousand shares at $10 a share. They can also get warrants to buy a thousand more at $11 a ...In fact, it's typical for a SPAC to combine with a company that's two to four times its IPO proceeds in order to reduce the dilutive impact of the founder shares and warrants.Special purpose acquisition companies ('SPACs') issue Units composed of one share of Series A Common and a fractional warrant to buy one share of Series A common stock at an exercise price of $11 ...The SPAC subsequently issues "units'' in an IPO, which results in approximately 80% of the outstanding shares being held by public shareholders and approximately 20% of the shares being held by the founders. Each unit consists of a share of common stock and a fraction of a warrant.Should I buy SPAC Warrants Common Unit Shares ? Pros & Cons Differences - How To Play ThemCommon Shares - A Normal Share Cons - None Pros - Floor of Arou...This website uses cookies to analyze our traffic and only share that information with our analytics partners. If the submitter prefers to have their data stored anonymously and even go as far as submitting the data anonymously, then it will have to be classified as "unverified" vs. "verified".

Nec projector blinking red light

As a best practice, any outstanding warrants or convertible notes should provide that they will be automatically net-exercised in connection with the closing of a de-SPAC transaction. Warrants and convertible notes typically auto net exercise in connection with a COC, but the definition of COC usually does not capture a de-SPAC transaction.