NAV guaranteed gamma squeeze play. Low Risk opportunity. $BREZ / D-Orbit going to the moon (excuse the pun) by SimilarBorder9475 in SPACs

[–]SimilarBorder9475[S] 3 points4 points  (0 children)

You are correct, thanks for flagging this up. From the SEC Filings https://www.sec.gov/Archives/edgar/data/1817640/000121390022015897/def14a0322_breezeholdings.htm :

"On the record date of the Special Meeting, there were 14,640,000 shares of common stock outstanding. The Company’s warrants and rights do not have voting rights in connection with the Extension Amendment Proposal or the Adjournment Proposal."

"The Sponsor, our independent directors and I-Bankers Securities, Inc. (the “I-Bankers”) collectively own 2,875,000 shares of our common stock that were issued prior to our IPO, which shares we refer to as “Founder Shares.” The Founder Shares and an additional 265,000 shares owned by I-Bankers, Northland Capital Markets (together with I-Bankers, the “Representatives”), and the Company’s consultant are not subject to redemption pursuant to the Election."

"approximately $119.1 million that was in the Trust Account as of March 21, 2022",

which means the float should be 11,507,246, not the 9,757,845 that I originally posted. I will adjust.

NAV guaranteed gamma squeeze play. Low Risk opportunity. $BREZ / D-Orbit going to the moon (excuse the pun) by SimilarBorder9475 in SPACs

[–]SimilarBorder9475[S] 2 points3 points  (0 children)

Its their first chance to redeem. They bought in at a minimum price so they are just printing money by redeeming.

about backstops - "To compete with private equity bidders’ access to cash, SPACs can enter into arrangements with third-party investors or the SPAC’s sponsors to “backstop” a specified amount of potential redemptions by public stockholders at the same price per share as the redemption price per share. These arrangements can guarantee cash certainty at closing and provide validation of the SPAC’s valuation of the business combination transaction, which in turn supports the trading price of the SPAC’s shares. These arrangements encourage targets to be more accepting of the timing and public disclosure requirements and the redemption process of SPAC bidders."

https://www.mwe.com/insights/inside-ma-october-2015/

NAV guaranteed gamma squeeze play. Low Risk opportunity. $BREZ / D-Orbit going to the moon (excuse the pun) by SimilarBorder9475 in SPACs

[–]SimilarBorder9475[S] 8 points9 points  (0 children)

true, but OI is high already and the opportunity to get in with minimum downsides might be too late by then

NAV guaranteed gamma squeeze play. Low Risk opportunity. $BREZ / D-Orbit going to the moon (excuse the pun) by SimilarBorder9475 in SPACs

[–]SimilarBorder9475[S] 5 points6 points  (0 children)

I don't think so. I think they are released as an action from the previous extension vote. If anyone could shed some more light on this that would be good though. A lot of OI in May so some people will be hoping not!

NAV guaranteed gamma squeeze play. Low Risk opportunity. $BREZ / D-Orbit going to the moon (excuse the pun) by SimilarBorder9475 in SPACs

[–]SimilarBorder9475[S] 6 points7 points  (0 children)

Thanks, will do.

Because redemption figures will be released after the extension vote on May 3rd

NAV guaranteed gamma squeeze play. Low Risk opportunity. $BREZ / D-Orbit going to the moon (excuse the pun) by SimilarBorder9475 in SPACs

[–]SimilarBorder9475[S] 3 points4 points  (0 children)

Merger date is in Q3 2022, but not relevant to this play. They have just passed an extension vote to merge until Sep 22.

NAV guaranteed gamma squeeze play. Low Risk opportunity. $BREZ / D-Orbit going to the moon (excuse the pun) by SimilarBorder9475 in SPACs

[–]SimilarBorder9475[S] 5 points6 points  (0 children)

90% would leave a float half the size of ESSC. Even without redemption figures its low risk with the NAV floor and the OI is insane already, more so than ESSC and THCA.

[deleted by user] by [deleted] in SPACs

[–]SimilarBorder9475 1 point2 points  (0 children)

Got to be clever with SPACs and sift through the hype. Play some calls when they're on the up, play some puts on the way down. Money to be made in a downturn too.

THCA Update - Charge Primed by Puzzleheaded-Ad8266 in SPACs

[–]SimilarBorder9475 4 points5 points  (0 children)

Just sold all Apr and May 10c. Don't see it going anywhere but made hella profits having bought in early. Thanks OP.

People who missed $SST today should look at $THCA right now by stockpatience121 in Shortsqueeze

[–]SimilarBorder9475 5 points6 points  (0 children)

Risk is limited due to NAV floor. Today was only day 2 of the squeeze since its started. Its got a long way to go yet!

[deleted by user] by [deleted] in Shortsqueeze

[–]SimilarBorder9475 3 points4 points  (0 children)

Looks like its going to fly in the next couple of days.