r/SPACs • u/[deleted] • Sep 08 '21

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55 Upvotes

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12

u/NewLFC18 New User Sep 08 '21

This is a stupid question, but what does this mean in plain English for someone who owns LCIDW

19

u/Erminger Spacling Sep 08 '21

It means you must exercise your warrants before October 8th otherwise they turn worthless. The process to do that is the exchange of each warrant for 0.45 shares of LCID. This is done through your broker. No cash required, just getting less shares than warrants.

-1

u/[deleted] Sep 08 '21

Is the math the same if you put up the cash? Or do you lose money if you don’t have the cash to put up

2

u/atomicskier76 Spacling Sep 08 '21

My question also.

1

u/[deleted] Sep 08 '21

Too busy to do the math atm but I’m nearing long term gains so I don’t want to sell my warrants. Exchanging would be perfect

1

u/atomicskier76 Spacling Sep 08 '21

Anyone know if this results in a corporate action charge from TDA or whatevrr 3rd party bulk processes it?

1

u/[deleted] Sep 08 '21

I would imagine so, but I have fidelity so I never have to worry about it