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Primer on SPACs with Kevin Hartz and Troy Steckenrider of A* and AONE
ACQ2 by Acquired
The Sponsor Promote Is the Equivalent of the Carry
The sponsor promote is really cin prise of two items. One is that the sponsor buys warrants, and these warrants are equivalent to the public market warrants with the same strike price in term. The other crazy thing about spacks is, unlike the carry, if the value of the company goes down, you still get the promote. If it fail to five dollarsa the promote, you'd still walk away with 25 million dollars. I just don't get it. And so we have to change that, because that's just harmful to the company. Especially the robin hood generation that's now really investing this.
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