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> All current Luminar holders will roll their equity stakes into the combined company , Luminar said. Does this mean nobody is actually selling any of their sh
by jpm_sd 6y ago
> All current Luminar holders will roll their equity stakes into the combined company , Luminar said.
Does this mean nobody is actually selling any of their shares?
Edit: Ah I got confused because this is called an "acquisition" but it's not really an acquisition, is it.
- apsec112 6y agoThey may sell later, but not at the time of IPO itself. Often, there's a lock-up period, where current stockholders are not allowed to sell to the public until a certain amount of time has passed.
- cortesoft 6y agoSPACs are kinda strange.. it is a way for a company to go public without directly selling any shares in an IPO https://en.wikipedia.org/wiki/Special-purpose_acquisition_company https://en.wikipedia.org/wiki/Special-purpose_acquisition_co... Matt Levine has written a lot about them, and why we are seeing quite a few right now