DataTrack

719 posts

DataTrack

DataTrack

@DataTracker87

Data Engineer. Python & SQL. Small/Micro Cap Special Situations. SPAC Secondary Markets. Capital Management. Not investment advice.

Katılım Şubat 2024
100 Takip Edilen403 Takipçiler
DataTrack
DataTrack@DataTracker87·
Top 5 most liquid pre merger SPACs by top of book dollar depth today: $IRAB ~$2.95M, $EVAC ~$2.43M, $BLZR ~$2.24M, $CAEP ~$2.12M, $DAAQ ~$2.08M. This is calculated using bid and ask prices multiplied by size across the order book.
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DataTrack
DataTrack@DataTracker87·
I track pre merger SPAC liquidity by calculating top of book dollar depth using bid and ask prices multiplied by their sizes across all SPACs, which totals about $51M today. This is similar to how Goldman Sachs measures liquidity using order book depth. Watching this over time is key since rising liquidity means a deeper and more stable market while falling liquidity means thinner books and more explosive price moves. It also helps identify which SPACs are the most and least liquid.
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DataTrack
DataTrack@DataTracker87·
@mhp79_sfa Not the best news. I'd assume if they can't recover the stuck pipe they go the sidetrack route. If they sidetrack, could be looking at another 7k+ ft of drilling.
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Big Steve Austin
Big Steve Austin@mhp79_sfa·
@DataTracker87 It's a pipe recovery job now. Not a fun time on a drilling rig. Let's hope they recover the BHA.
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DataTrack
DataTrack@DataTracker87·
$GULTU Well Update. No flights. The crew found that a pin connection had parted in drill pipe. Left drill pipe and the bottom hole assembly in the wellbore. Attempted to engage and retrieve the remaining downhole equipment using an overshot fishing tool at a depth of 23,279 ft, but the fishing jar failed. They then pulled out of the hole to obtain a new fishing jar and made another attempt, again successfully latching onto the fish with the overshot tool, but the fishing jar failed once more. The crew subsequently pulled out of the hole again to switch to drilling jars and reattempted the fishing operation, successfully latching onto the fish at the same depth. They applied jarring action on the fish for seventeen hours without any movement. Ultimately, they performed a blind backoff operation and began pulling out of the hole.
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DataTrack
DataTrack@DataTracker87·
"the intraday high average on the first day of trading for 25 newly listed SPACs last year was 4,067 won. That is an increase of more than 103% from the offering price (2,000 won)" biz.chosun.com/en/en-finance/…
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DataTrack
DataTrack@DataTracker87·
Are we still seeing cases where athletes are being used as marketing or distribution channels in SPAC deals or related private fundraising structures?
Justin Reid@JustinqReid

🚨PSA🚨 If you are an athlete and someone comes to you saying the want you to invest in or represent a SPAC and they are specifically targeting athletes bc of “X,Y,Z”… RUN AWAY!!!!! This is a scam where they are manipulating you to invest your money and TAKE A CUT before the investment ever happens. They get paid regardless, even after the SPAC very likely will flop. They are using you and you are quite literally paying the price If you are an athlete and they ask you to represent or find investors for this SPAC in exchange for promise of commission, stock, or some other version of compensation, THIS IS ILLEGAL since you do not own a broker license and that is known as broker activity. They are using you to do their dirty work and leverage your relationships for profit at the expense of your friends. Furthermore if they are promising you to 5X or 10X your money within 1-2 years because they are the only company doing this in some new exciting industry or using buzzwords like “energy sector”, this is obviously fake!!! Don’t fall for it!! The are intentionally using abstract concepts to confuse you. If you are an athlete or know an athlete, don’t allow yourself or your friends to be used for your money or your relationships. Ask a ton of questions and most importantly, ask someone who has YEARS of experience in the space about it and make this group talk to them about it

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DataTrack
DataTrack@DataTracker87·
@CallsPuts1 My opinion. Routine liner cleanout work. One operational hiccup (pressure loss).
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DataTrack
DataTrack@DataTracker87·
$GULTU Well update. No Flights. Ran into the hole with drill bit and reached the top of the liner, then circulated the well to clean the hole. Pulled out of the hole and picked up a mill with drill pipe. Ran back into the hole with the mill to a depth of 28,675 ft, then washed down to 30,247 feet where the liner wiper plug was encountered. Milled through the wiper plug and cement to 30,257 feet, at which point pump pressure was lost. Circulated the hole clean and pulled out of the hole to inspect the drill string.
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DataTrack
DataTrack@DataTracker87·
$IBAC IB Acquisition Corp. continues to be my largest SPAC holding by far. Current Price: $10.56. Estimated current NAV: $10.77. Estimated NAV @ Redemption: $10.81 Annualized: 20% Total Return: 2.33% Redemption Date: 3/28/26 Merger Status: Searching
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DataTrack
DataTrack@DataTracker87·
Based on recent 13F filings. Here are the top 5 pre merger SPACs owned by funds: 1) $CEPF 96 funds own 2) $CEPV 88 funds own 3) $CAEP 82 funds own 4) $AEXA 81 funds own 5) $CEPT 72 funds own
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DataTrack@DataTracker87·
I analyzed the latest 13F filings to map the institutional pre-merger SPAC ecosystem. It breaks into three distinct silos. 1️⃣Large Diversified Books AQR Arbitrage, Magnetar, Linden Advisors, Tenor Capital, D.E. Shaw, Two Sigma, Polar Asset Management 2️⃣ SPAC Specialists (50%+ of AUM in SPACs) Meteora Capital, Wealthspring Capital, Harraden Circle, Gritstone Asset Management, Lineage Point, Arrington Capital, BCK Capital 3️⃣ Concentrated Allocators (10%+ position in a single SPAC) BCK Capital, T3 Companies, Arrington Capital
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DataTrack
DataTrack@DataTracker87·
@JasonSTLxYz No problem. I've def seen the automatic extensions in S-1 filings but it's a mixed bag. Terms vary from SPAC to SPAC.
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Jason
Jason@JasonSTLxYz·
@DataTracker87 Ah thanks. There are just too damn many of these filings lol. Is an automatic 3-month extension if there’s a DA typically standard with most SPACs?
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DataTrack
DataTrack@DataTracker87·
$CCIX merger vote is 4/15/2026. The trust allows $1M per year in working capital withdrawals. The next eligible withdrawal date is 5/6/2026. So if redemption happens in April, no additional $1M affects NAV. If the deal is delayed past 5/6/2026, they could withdraw another $1M before the 8/6/2026 outside deadline. Interesting opportunity modeling the different scenarios on NAV. sec.gov/Archives/edgar… sec.gov/Archives/edgar…
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DataTrack
DataTrack@DataTracker87·
@JasonSTLxYz That date should be 8/6/2026. 27 months from IPO since they have a DA. IPO was 5/6/2024.
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Jason
Jason@JasonSTLxYz·
@DataTracker87 Might have my dates wrong was just pointing to the expiry of the 2-year window at which point they’ll have to have vote to extend and offer redemptions.
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DataTrack
DataTrack@DataTracker87·
Not sure what deadline you are referencing with the 5/2/2026 date. Per recent 10-K "For the year ended December 31, 2025, we withdrew another $1,000,000 in interest from the Trust Account for working capital purposes pursuant to Permitted Withdrawals, and have no further amounts available for permitted withdrawals until May 6, 2026, which is the two-year anniversary of the Initial Public Offering."
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Jason
Jason@JasonSTLxYz·
Thanks for calling this out. The "deadline" for $CCIX is 5/2/2026, so presumably any withdrawal from trust would be considered in terms of what they have to contribute to extend the deadline, if the vote date extends past then? It's "only" 0.035 per share if my math is good, but of course from a yield perspective that matters.
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