SPACuity (@SPACuity) profile picture

SPACuity

@SPACuity

Used to do a lot with SPACs. Now back to doing a lot with SPACs. I also post things to make myself chuckle. If you are amused, it is a nice bonus.

 Not Investment Advice, USA
Joined February 2017
  • Tweets8.2K
  • Following425
  • Followers3.7K
807Media
Photo by SPACuity (@SPACuity)Photo by SPACuity (@SPACuity)Photo by SPACuity (@SPACuity)Photo by SPACuity (@SPACuity)Photo by SPACuity (@SPACuity)Photo by SPACuity (@SPACuity)Photo by SPACuity (@SPACuity)Photo by SPACuity (@SPACuity)Photo by SPACuity (@SPACuity)
Over 400,000 shares $AMAN on the tape. Stock still 6 cents below current NAV. $300 million PIPE at REDEMPTION price; only 7.5 million public shares out. As PIPE participants buy common shares to offset their PIPE commitment; what happens if the supply of shares. . . dries up?
2
6
1,026
Worst case, this is an arb play. Best case. . . it turns into something more interesting.
1
216
I know it is a bad market day when even MY portfolio feels it.
6
522
SPAC premiums to NAV are being eviscerated. Barely any left, and they aren't big. $AEXA suddenly a huge outlier. Wonder if it holds.
2
9
1,613
I get it, market sucks, and no sense of urgency here. But as a cash substitute; $AMAN has 7.5 million shares. $300 million committed in a PIPE a bit over $10; allowed to buy common instead (cheaper, more flexible). If a small fraction of PIPE buyers does so. . . shares dry up.
3
700
Nice to know there are at least two of us who like $AMAN
AnotherBioInvestor (@AnotherBio) profile pictureAnotherBioInvestor
@AnotherBioOct 28
Replying to @AnotherBio
9) $AMAN super safe SPAC with NAV today at ~ 10.17$/share. Merging with Corxel, RTW incubated chinese oral small molecule GLP1 thingy. Super cheap compared to peers, Phase 3 ongoing. Don´t think this is a super differentiated asset, but wow is it cheap. Buy around SPAC NAV, get free upside.
2
4
1,263
My SPAC portfolio right now; In the name of the Father, and of the Son, and of the Holy Spirit, $AMAN (1/5)
1
6
890
more replies
SPAC commons, in general, suggesting virtually no chance of any of them trading above NAV ever again. That may be true for most of them, but not all. Small trust sizes with highly credible common equity PIPEs like this one. . . offer best chance, in my opinion, of working. (4/5)
1
1
174
And of course, when it perks up, I'll feed some out; or if I find better ideas, I'll feed some out. So far I've been a big continued buyer though around $10.15. It doesn't look like it'll run away imminently, can probably patiently add around NAV for a while. (5/5)
2
164
Just one for the radar; full disclosure, my track record investing in pure rights is poor. That said, if $KFII converts LOI to a DA with David's Bridal to bring Pearl public, and if financials aren't a complete fiction - this thing looks pretty credible, and 11 cents for 1/15th right $KFIIR could be compelling. Investor deck link; sec.gov/Archives/edgar/data/…
1
8
1,004
and yeah I own a slug, around 11 cents cost basis. Will continue to evaluate risk/reward; I may trade around the position a bit. The charter does need to be extended (vote coming up), but seems to be a credible team and credible proposed transaction - as SPACs go
2
1
290
$AMAN $300 million obligated to buy PIPE at redemption price (approx $10.16 now, likely a couple dimes higher by close). Little old SPACuity can buy now at $10.17 and can change mind at anytime. A pretty cheap way to play the possibility the PIPE buyers aren't total morons.
1
10
790
Interesting dynamic at play. $AMAN was my largest holding coming into today, and even bigger now. SPACs so out of favor that a $300 million common equity PIPE above $10 (this one is at redemption price) pins it at NAV. Similar to $TCGX reaction. May not work, but certainly might.
SPAC Spin (@SPACspin) profile pictureSPAC Spin@SPACspinOct 26
$AMAN 🤝✅ OFFICIAL DA: Corxel US and Amanat Acquisition Corp Announce Definitive Business Combination Agreement to Create Publicly Listed Obesity-Focused Biopharmaceutical Company globenewswire.com/news-relea…

Corxel US and Amanat Acquisition Corp Announce Definitive Business Combination Agreement to Create...

Combined company expected to advance differentiated oral obesity franchise led by CX11, a clinical-stage, once-daily oral small-molecule GLP-1 receptor...

globenewswire.com
2
12
1,174
I'll continue to add here around NAV most likely assuming I find things to sell to fund it; though as such a big position I'll trim some if it can perk up even slightly. PIPE participants have ability to offset PIPE commitment by buying shares of $AMAN.
1
3
318
Very possibly stays pinned at NAV, but downside almost zero (especially with the aforementioned PIPE dynamic), and I could envision a scenario where shares eventually get sopped up and it moves higher. Only a $75 million trust.
2
181
$CCXI; the gift that keeps on giving
SPACuity (@SPACuity) profile pictureSPACuity
@SPACuitySep 16
$CCXI today
10
1,122
I don't know if $TCGX merger target will succeed in treating migraines as they hope, but I can tell you that so far $TCGX is causing more headaches than they've prevented.
10
815
Note to SPAC sponsors; just because the market is willing to fund your SPAC IPO(s) doesn't mean you should do it. Please do us all a favor and not raise hundreds of new SPACs next cycle, assuming we get one. The world has enough TBill exposure. Hugs and Kisses, SPACuity
1
1
23
1,254
Load more