Hi - in the off chance you see this, I was wondering if you knew what date you actually purchased the SPAC shares on? It seems like you purchased them after the cutoff date but obviously before the expiration, but just wanted to confirm. I came across a SPAC in the exact same situation but in my case Fidelity's cutoff was last Friday (10/21) and the expiration is EOD Monday (10/24), and I do not yet own any shares. Since the timing felt a bit tight and I really didn't want to get stuck with rollover shares, prior to buying any shares I called Fidelity to see if they thought the order could get submitted prior to expiration if I purchased the shares while the markets closed/in pre-market (giving the Fidelity people all day Monday to process the order). They said, somewhat vaguely, I probably wouldn't be able to get the order through in time. But now I'm wondering if the response would have been different if I owned the shares already, as you did. I guess what I'm asking is, was your purchase timing comparable to mine or did you buy your shares somewhat earlier? Thanks!
Hi Ji, hope you are well. Who qualifies for the redemption? Is it all common shareholders? ie. I did not purchase IPO shares and purchased in secondary. Would I still qualify for redemption rights? Or is this a case by case situation and need to dig deeper into filings?
Hi - in the off chance you see this, I was wondering if you knew what date you actually purchased the SPAC shares on? It seems like you purchased them after the cutoff date but obviously before the expiration, but just wanted to confirm. I came across a SPAC in the exact same situation but in my case Fidelity's cutoff was last Friday (10/21) and the expiration is EOD Monday (10/24), and I do not yet own any shares. Since the timing felt a bit tight and I really didn't want to get stuck with rollover shares, prior to buying any shares I called Fidelity to see if they thought the order could get submitted prior to expiration if I purchased the shares while the markets closed/in pre-market (giving the Fidelity people all day Monday to process the order). They said, somewhat vaguely, I probably wouldn't be able to get the order through in time. But now I'm wondering if the response would have been different if I owned the shares already, as you did. I guess what I'm asking is, was your purchase timing comparable to mine or did you buy your shares somewhat earlier? Thanks!
Hi Ji, hope you are well. Who qualifies for the redemption? Is it all common shareholders? ie. I did not purchase IPO shares and purchased in secondary. Would I still qualify for redemption rights? Or is this a case by case situation and need to dig deeper into filings?
Yes, as long as you are a shareholder before the redemption date. You don't need to purchase at IPO date.