4 ms·
> date specified by Sandia after the VWAP Price (as defined in the Forward Purchase Agreement) for 20 trading days during a 30 consecutive trading day-period ha
by wokwokwok 2y ago
> date specified by Sandia after the VWAP Price (as defined in the Forward Purchase Agreement) for 20 trading days during a 30 consecutive trading day-period has fallen below $1.00 per share (a “VWAP Trigger Event”).
> Because a VWAP Trigger Event has occurred, Sandia has the right, but not the obligation, to accelerate the term of the Forward Purchase Agreement at any time
ie. The share price tanked below $1 and that was the condition.
Lookup ZPTA; the price has been below $1 for 6 months.
Presumably the announcements recently did not excite investors and they pulled the plug.
- seanhunter 2y agoAnd for additional context, VWAP in this setting means "Volume-Weighted Average Price" (ie the average price of the transactions in some time window weighted by their quantity) https://en.wikipedia.org/wiki/Volume-weighted_average_price https://en.wikipedia.org/wiki/Volume-weighted_average_price
- JumpCrisscross 2y agoWhich makes their use of "volume weighted daily VWAP" ambiguous between a typo or an integrated VWAP, e.g. volume weight each day's VWAP to come up with a period VWAP.
- seanhunter 2y agoIt's been a while so I'm a bit rusty on this and it's hard to google for, but usually when you have "volume vwap" it means "vwap in volume time", ie something like say my order is for 100 shares, then vvwap is the volume-weighted average price over the time taken on average to execute 100 shares. In this case, as you say, the "daily vwap" is the vwap over the day each day, and then they are using the volume on each day to make a vwap of those over the longer period. I think. This is the kind of thing where when I was in securities the documentation would usually include the formula to disambiguate.
- BarbaraBessolo 2y ago[dead]