Got this again from Etrade today.
Please be advised that the offer has been extended. Re: UTS Digital World Acquisition Corp Cusip: 25400Q204 Cutoff Date: 10/04/22 Participation is voluntary. If you do not wish to participate then no further action is required. If you wish to participate, contact E*TRADE at 1-800-387-2331.
PLEASE NOTE: Only the common holders (CUSIP 25400Q105) have redemption rights. The approximate price per share redeeming holders will receive for their common stock is $10.20 per share.
Additionally, your instruction must include a statement that shareholder is or is not acting in concert or as a group with any other stockholder with respect to shares of common stock.
UNIT HOLDERS: Unit must be split in order for the common to be redeemed for cash. Unit split: 1 Unit = 1 share of common stock (CUSIP 25400Q105), and one-half (1/2) of a warrant (CUSIP 25400Q113).
Opt 01: Split the unit & redeem common shares into cash.
This same sort of offer was made for CFVIU before CFVI changed to RUM.
Schwab hasn’t said a word, but they also didn’t make it easy to vote on/for the extension.
Speaking of voting I proxy voted weeks ago but today just got a text and email just like this one saying my vote hasn't been received yet. https://www.reddit.com/r/DWAC_Stock/comments/xpuaeb/patricks_sending_all_dwac_shareholders_an_email/
It's just because the tender offer was extended, they have a fiduciary duty to provide the update to you, even if it's a bad deal for you.
Then why is Vanguard not doing it? So far we're only hearing about Etrade and Fidelity.
May come later today or this week.
If not, I see that more as a strike against Vanguard than Fidelity and Etrade. They have a duty to inform you of what your options are.
Vanguard didn't for Rumble either.
SoFi sent me an email about this too.
Fidelity too! I sent the majority of my shares to Continental Stock And Transfer Trust months ago but recently purchased more DWAC and have not yet completed the transfer, I keep getting emails every Couple of weeks, asking me to redeem.
Interesting, I still have some in Vanguard and they've never said anything. I wonder if they know they're going to have trouble locating shares to provide or if they're just trying to trick people into bailing out.
I've never heard anything from Robinhood either.
How was your experience with their transfer agent?
Continental stock is just OK. I originally tried to compare them to computer share (who holds my GME and other long term hold certificates, but they are not apples to apples. Computer share is both a transfer/holding agent and they will also buy and sell shares. Continental stock is only a transfer/holding company. if you want to trade, you have to send them back to a brokerage. Also, when you send shares over to them, they create a brand new account each time and you have to call them to have them merge everything into one account. It’s a bit more of a pain in the ass, but to ensure that I actually on the stock certificates, it was well worth the pain. Their online portal is not very user friendly, but I’ve seen improvements over the last year.
Thanks for sharing and the comparison to CS. I’ve been looking into Continental, very thankful for this insight! Thanks again!
Well, unfortunately, if you want to actually own your DWAC certificates, your only option is to send them to Continental stock. I’m not sure I understand the reasoning behind why each stock can only be held by one transfer agent? But honestly never had the time to dig that deep to understand.
I think it’s easier for accounting purposes if one transfer agent were in charge of the book keeping due to how frequently the numbers typically fluctuate. Plus we all know how shady the DTCC is when it comes to book keeping, so less moving parts lol.
AST for BBBY was similar. You can't buy directly you have to transfer in from a broker to make an account but somehow you can sell directly from them. If CS was your first experience you're going to feel a bit spoiled.
Very true. I’ve been dealing with computer share for probably 15 years and never realized that there were others. Very spoiled by their service.
Hold the line!!
So does Fidelity.