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> [...] a fully committed PIPE in excess of $100 million, direct investment, and $345 million of cash held in the trust account of Supernova II, assuming no red
by wskinner 5y ago
> [...] a fully committed PIPE in excess of $100 million, direct investment, and $345 million of cash held in the trust account of Supernova II, assuming no redemptions.
This is an odd assumption - the median redemption rate is 73%[1]. So the total new cash into the company will likely be less than half of the quoted $458mm.
1: https://hbr.org/2021/07/spacs-what-you-need-to-know https://hbr.org/2021/07/spacs-what-you-need-to-know