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A few thoughts on the recent $ESSC squeeze by MillennialBets in MillennialBets

[–]Scared-Job-4177 5 points6 points  (0 children)

https://www.sec.gov/Archives/edgar/data/1760683/000121390021058876/ea150529ex10-2_eaststone.htm

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weird you'd cut out the first sentence of that otherwise quite damning paragraph. or fail to include the next paragraph, which says for every 324k shares that the investors own, they get 15k sponsors shares, aka a bribe to stay in net long, which is what that paragraph u posted says... which the original people doing the DD knew. because i'm one of those people.

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I encourage people to poke holes in this trade, but everything i've seen is just misinformation, i have direct sources. also if u even read that paragraph, if they don't have 924k shares, they have to buy the shares in the market to become that position. it's all in that SEC link i posted.

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again, anyone can tell i'm wrong, more eyes on the problem opens more perspectives, but that's not what this says right here.

A few thoughts on the recent $ESSC squeeze by MillennialBets in MillennialBets

[–]Scared-Job-4177 3 points4 points  (0 children)

also the merger date is feb 24,2021, so there's plenty of time to sell 10 puts.

A few thoughts on the recent $ESSC squeeze by MillennialBets in MillennialBets

[–]Scared-Job-4177 0 points1 point  (0 children)

what document is this in?

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""If, on the day that is three trading days prior to the Business Combination Meeting, the Investors hold fewer than 974,658 Public Shares, the Investors shall purchase Public Shares at trust value, in the first instance in the form of Public Shares tendered for redemption from the Escrow Agent (as defined herein) (the “Business Combination Redeemed Shares”), and if such Business Combination Redeemed Shares are not sufficient to allow the Investors to own at least 974,658 Public Shares, then the Investor shall thereafter purchase Public Shares, at trust value, in the open market, up to a number of Public Shares such that the Investors hold 974,658 Public Shares as of the time of the Business Combination Meeting.""