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Technology Stocks : Fintech
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To: Sun Tzu who wrote (221)7/1/2022 9:35:25 AM
From: Glenn Petersen1 Recommendation

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Sun Tzu

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Yes. The SPACs generally have 18 to 24 months to complete an acquisition. Otherwise, they are forced to liquidate, although they can generally extend their life span if their shareholders approve the extension. When the vote is taken, the shareholders have the option to redeem their shares. I have seen one instance where a SPAC extended its life six or seven times. By the time they actually completed a transaction they were down to approximately 10% of their original funding. If a SPAC is trading at a premium when their shareholder vote is scheduled, that is usually a good indication that the deal will get approved and that the redemptions will be limited.
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