HODL the line !!
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As I understand it...
DWAC is the 'regular stock' (Class A Common)
DWACW are the half-warrants - you need a 'full warrant' (two DWACW's) to have a full warrant, and therefore the right to buy one (normal) DWAC at $11.50 (Note that this can only take place after a certain time period, and/or after the merger, etc - which is why these are worth a little less than a straight formulaic conversion from DWAC -- a bit more 'risk'.)
DWACU are 'units' - kind of a 'combo pack' - one DWAC and one DWACW
The description above matches (closely) to the closing price ratios of each item. (In other words, if DWACW's were full warrants, they would be at nearly double the price.)
From the 8K filing on 9/27: "No fractional warrants will be issued upon separation of the units and only whole warrants will trade."
So 2 DWACU = 2 DWAC + 1 DWACW, but 1 DWACU = 1 DWAC. Along with that 1 DWACW + $11.50 = 1 DWAC.
Thanks, I finally figured that out.
Any idea why DWACW's are trading so low then? (Compared to DWAC)
If I had to guess, trading frenzy in the short term along with the DWAC ticker being dropped in the announcement, but not DWACW. If you're inclined for long term HODL, DWACW seems like a steal.
What do you mean the DWAC symbol being dropped?