SPACuity

Whether you own it or not, $WLAC is critical for SPACs. 90%+ of SPACs don't work; but names like this are what give us hope. Not just hope - but the ability for the theoretical "equity upside" to be a reality. Otherwise, these are just discounted TBills. Hopefully there are more.

@lucas_SPACs They’ve stated October for drilling the first one, the second one immediately to follow

@SPACuity Do you know when they plan to make the wells?

Up until yesterday, there was a ton of risk in holding $GLND - they had no money to drill the wells required to earn into their only asset (Jameson Basin, Greenland). Now they are funded; main shortterm risk is gone; drilling catalysts going forward. (1/2)

@BPHhasbeentaken Certainly a possibility, especially with guacamole on its way

@SPACuity Taco please.

Call me a hopeless romantic, but I have to think we are due for a SPAC merger announcement that will provide an instant face-ripping rally in its shares. If it can't happen in this tape - it probably never will.

@StableBread No question about that

@SPACuity Think its more speculative than $WLAC pre S-4 too. Wrote about it here: x.com/StableBread/st…

I'll be the first one to admit skepticism of $BCAR and its target; but I'll also be the first to admit I like it a heck of a lot better at 10 cents over NAV today than at 45 cents over NAV last week. Also yesterday Goldman Sachs filed as an over 5% holder. Will it work? Dunno.

@ElitePointsPro press release out today with the details

@SPACuity When is merge/vote?

$CGCT vote is set; registration statement is effective. $10.39 cash in trust. $10.39 stock. Will it work in the next 2-3 weeks? Almost definitely not. If it doesn't work? Take your cash and move on. But, just go through this thought process with me. . . what if it DOES?

@larryswets @BPHhasbeentaken Thanks for the reply!

@SPACuity @BPHhasbeentaken Just speaking with one person, if the warrants were exercised in the stock was still lower than 10 I'd probably be more apt to buy stock. At some point looking at opportunities in Greenland could be interesting because there are so many opportunities there

I'm not going to incessantly post on $GLND. Will point out, however, that in last 24 hours we've had more insider buys of shares and warrants hit the tape (@larryswets ), and disclosure that Citadel bought over 9% of shares outstanding and also owns millions of $GLNDW;

Yeah, helps when directors feeding on $GLNDW in the open market. At present, I get it, $GLND is setup to be totally binary ("zero or hero") on the Greenland drill results. That said, I wonder if they consider diversifying, especially if they can raise more capital (perhaps via the warrants)? Another $85 million could do some interesting things for them, perhaps beyond just the initial two wells in Greenland. Or are they content with this corporation being a one asset entity? I'd be curious @larryswets take on that; haven't heard this addressed, focus has purely been on the Jameson concession

@SPACuity @larryswets Since I first bought, common is lower and warrants are higher. And wts were not cheap then. Pricy warrants seem like a good indicator to me.

@DoctorBradberry I enjoy the first bite of Captain Crunch quite a bit. The second bite is also tasty. The rest of the bowl just tastes like regret.

@SPACuity I like the bran cereal analogy but every once in a while the box is filled with Fruity Pebbles and you think it's the best thing you've ever eaten. Meanwhile your friends are having Cap'n Crunch every day.

I've really only found one problem with owning a portfolio that is almost exclusively SPACs. I end up owning SPACs.

@notWarrenBuffe2 LOL. Didn’t say I own a portfolio of deSPACs. SPACs are bad enough

@SPACuity He doesn’t sell before ticker change…

@DoctorBradberry Or SPAC arb is like eating bran cereal. But there's never a prize inside. So every now and again, you buy Fruity Pebbles, and end up a lifelong diabetic.

@DoctorBradberry More like a candy that usually ends up being laced with cyanide, but every now and again there's a Willy Wonka golden ticket, so we keep eating

With his tune changing like this, @saylor should adjust his image to still having laser eyes, albeit with another smaller laser aimed at his butthole.

(in full disclosure, I am long, and have been trading around the volatility.)

Drilling program now funded. The drilling itself is risky, but the market not paying much of a premium over cash on the books. Will presumably be a powerful set of catalysts playing out over next few months. Finally feels less heavy than is has in previous days.

As I said, it probably won't work. If it doesn't, stock has no downside (trading at cash in trust). I've seen more implausible things, however, than something like this working. Virtually free 2-3 week call option that is likely, but not certain, to expire worthless.

$100 million dollar PIPE at $10+ (a bit over $9 if we factor in founder's share inducement). Cheap relative valuation vs $QS. Sponsor has been buying shares of $CGCT, and $CGCTW, in open market (shares might be offsetting PIPE commitment, but warrants? Hmm).