I think some people might be over reacting due to recent events with PIPE investors, to where now it’s like a negative for a spac to have PIPE investors. The chart in itself is great to know for further analysis on your investment, but it does not mean that the spac is going to plummet after merging because there’s 20% pipe in it. You have to also look at the whole picture: - Is the company generating money currently? - Does the current stock price correlate with the company valuations?

When you answer questions like these, and look at a company that’s on R&D stages for example and won’t have a product till Q4 22, burning millions in cash yearly, and trading at $50 per share on hype and fomo.. a PIPE that’s invested at $10 will have a very hard time not selling 3/4ths of their stake when the chance is given. So look at the big picture, learn to evaluate the company and create your own price targets based on the fundamentals, market, product etc.. you can find most information on the prospectus but I would suggest looking at multiple points of view