Know what you own
A unit bundles securities together. After separation, each piece has its own price, terms and risks.
- Identify the security
- Read its contract
- Know the next deadline
SPAC 101
SPACs, one question at a time.
What am I buying? Can I get my money back? What happens if the deal fails? Six practical guides, with worked examples and real filings.
Six reader questionsInteractive examplesSources alongside the answers
What would you like to know?
Read in order, or start with the question that brought you here.
One company. Different bets.
The security matters as much as the SPAC. Keep this distinction in mind as you read.
- ShareA conditional cash exitEligible public shares can redeem at specified events before the merger.
- WarrantAn option to buy laterExercise terms and early calls matter. No claim on the trust.
- RightShares if the deal closesA set conversion ratio, with the risk of losing everything on liquidation.
Now go and look at the real numbers.
Pick an issuer, find its securities and use the filings to ask better questions.