DWACW is like a call option but one share instead of 100 and purchased direct from the SPAC, you're buying the right to buy a share for $11.50 later on regardless of the future share price, so even if it's $200 after the merger you can pay $11.50 then and convert your DWACW share to DWAC.
You need to research the specifics of a SPAC (special purpose acquisition company). DWAC is a SPAC, and SPACs operate differently than a normal stock.
As much as we all hate reddit, r/spacs is very active and not a bad place to go for basic info. Also their cognitive dissonance over DWAC is amusing.
DWACW is like a call option but one share instead of 100 and purchased direct from the SPAC, you're buying the right to buy a share for $11.50 later on regardless of the future share price, so even if it's $200 after the merger you can pay $11.50 then and convert your DWACW share to DWAC.
Awesome thank you