Found the precipice !!
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Not a financial advisor. DWACU is a combination of DWACW and DWAC, so I will focus on the latter two.
DWAC is straight forward. Its the actual share that will represent the TMTG once TMTG merges with DWAC. If the merge does not happen you get returned the $10 for each share. Currently its around $80.
DWACW is a warrant. Once the merge happens, each DWACW can be exchanged for a DWAC by paying $11.50, regardless of how much you paid for it. However if the merge does not happen, you will lose whatever you put into DWACW. Currently DWACW is sitting at $27. This means, if you bought DWACW now and the merge happens, one DWAC cost you only $38.59, even though its valued at $80 atm.
However, the tax implication will be different. You may not realise capital gains if you purchase DWACW, so you have to keep that in mind.
Bottom line, be ready to lose everything you put into either of them. If the merge happens, DWACW will be much more profitable, but you might pay more tax.
Also check with your brokerage about the warrant exchange to make sure there are no hidden gotchas.
Personally I bought half half, and later on bought a few more DWACW.
I have half and half as well. Mine is in a retirement account so I am not concerned about the taxes for now.