Anyone know anything about Continental Stock Transfer & Trust for DWAC?

posted 3 years ago by txharleygirl 3 years ago by txharleygirl +14 / -0

After successfully completing the DRS of my GME shares, I called TDA to ask about transferring my DWAC shares. Last week I learned my DWAC and DWACW were successfully transferred out but that DWACU was not transferable and it would cost $500 to the certificate issued.

TDA told me they went to Computershare but after 5 days they were still not in my account. Today I get a letter from a company called “ Continental Stock Transfer & Trust” telling me THEY have my shares.

After going off on TDA customer service I looked up this new company and find they have been around since 2000. But if my account number represents the number of customers they have then something is not right. Any insight on this company is appreciated.

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– FreedomLover21 3 points 3 years ago +3 / -0

Yes, Continental Stock Transfer & Trust Company. Excerpt from the filing:

ESCROW At the Closing, five percent (5%) of the Merger Consideration (the “Escrow Shares”) otherwise issuable to the TMTG Stockholders (allocated pro rata among the TMTG Stockholders based on the Merger Consideration otherwise issuable to them at the Closing) will be deposited into a segregated escrow account with Continental Stock Transfer & Trust Company (or such other escrow agent reasonably acceptable to DWAC and TMTG), as escrow agent, and held in escrow together with any dividends, distributions or other income on the Escrow Shares (the “Escrow Property”) in accordance with an escrow agreement to be entered into in connection with the Transactions (the “Escrow Agreement”).>

https://seekingalpha.com/filing/5756129

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– txharleygirl [S] 1 point 3 years ago +1 / -0

Thank you. I specifically asked TDA if they could go to Computershare and they said yes AND they confirmed today that’s where they sent them. Now I have no confidence in TDA and thinking about moving my account.

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– FreedomLover21 2 points 3 years ago +2 / -0

I wish I could help more, but I’m new to this. I heard Fidelity was pretty good, zero cost for trading and opening an account and no fees. May be worth a look.

Also, I read in someone’s post here that ComputerShare held GME shares specifically. Of course, from the filing, I learned that Continental Stock & Transfer will hold the DWAC and DWACW shares.

I’m going to look for that post I read. It was very informative.

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