Etrade really wants me to cash in my DWAC Units

posted 2 years ago by ZerroDefex 2 years ago by ZerroDefex +37 / -1

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.

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– cheesygorditacrunch4 1 point 2 years ago +1 / -0

Thanks for sharing and the comparison to CS. I’ve been looking into Continental, very thankful for this insight! Thanks again!

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– txharleygirl 2 points 2 years ago +2 / -0

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.

– cheesygorditacrunch4 2 points 2 years ago +2 / -0

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.