MERGER SOON DWAC?
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Picked up another 50 warrents today.
Moon soon.
DWAC transfer agent is Continental. Call them to verify/discuss process: https://continentalstock.com
Send a few shares over from your broker via Direct Registration of Stock (DRS) request to broker to verify process. Get Continental account access checked and working. Verify they come across as “book” (there is currently no investment plan option at Continental for $DWAC). Brokerage address on file is sent over to Continental for them to send you paperwork.
Continental is also transfer agent for $SPCE and $NKLA, both also heavily shorted. Computershare is transfer agent for $RUM, $GME, $AMC, $BB, $JWN
I am keeping all warrants for PSQH, RUM, and DWAC at brokerage for ease/speed of exercise when needed.
DRS changes ownership from “held in Trust as broker property for your benefit” (custodial) to “individually owned by account owner” (direct ownership). Equivalent to holding your own gold, silver, offline Bitcoin private wallet, cash in your private safe, or allodial land title.
I have almost all my gme in computershare, Does continental allow limit sells? And I have warrents in dwac no shares at all, do they accept transfer of them?
I had 30k of bobby, but I would not transfer them to AST as the company had no limit sales and was dog shit for customer service.
Unclear "trading options" at this point. I am just trying to get my shares over there as I plan to hold for a very long time and I want to reduce liquidity and HF fuckery with DWAC. I will use any additional shares I get from exercised warrants for trading much later. Continental customer service seems pretty good.
If their is a short squeeze you need a limit sell. If you want to hold long term you can buy back later.
If not just hodl.
Yeah. I'm keeping 7 shares of each stonk in brokerage for limit sale orders. The rest is HODL. I only expect to sell one share at a time. Maybe stack the limit orders at $1M increments? hehe
I bought a share of DWAC. I didn’t understand the other 2 listings, they had extra letters added to DWAC. Can anyone enlighten me on that?
DWAC is the normal share
DWACW are warrants.
DWACU is a mix of one share of DWAC plus one half of a warrant.
Look each up to see where they are currently trading.
Do shares have to be DRS’ed on DWAC or GameStop in order to take possession of them later, or is that just needed to MOASS and prevent systemic shenanigans?
A lot depends on the finicial strength of your broker. Low rent brokers like robbinthehood. I would transfer.
From listening to audio about this yesterday regarding The Great Taking, the answer is absolutely “yes”.
I forgot that like how we are “lenders” to banks and not “depositors”, we also don’t own the stocks in our brokers’ accounts. They’re all backed by banks, so if banks go, they will too.
https://www.investopedia.com/terms/d/dwac.asp
My understanding is this, and someone please correct me if I'm mistaken...
A warrant allows you to buy a share (of the new company, TMTG) for $11.50 after the merger. The current price of a warrant is $5.50 so if you buy that, plus the additional $11.50 to be paid post-merger, then your share will cost you $17 total, which is a $1 discount compared to buying the share ($18 currently).
This part I'm not fully knowledgeable about... but I believe that if the merger fails to go through then shareholders (DWAC) get refunded a set amount per share (around $11 if I recall) regardless of what price they bought at, so you have sort of an insurance policy if the merger doesn't happen. Even if you don't recover 100%, you can still recover something. Warrants on the other hand are just cancelled with no value if the merger doesn't go through.
When the odds of the merger being successful were more of a gamble (like a year or more ago) it was worth it to pay the premium to buy a share (DWAC) because you had the refund "insurance policy." That's why you could buy a warrant (DWACW) back then for a big discount (discount meaning compared to buying a DWAC share + the future $11.50 cost).
As the odds of the merger increase (like they now are) the discount for DWACW warrants decreases... meaning now, tonight, a warrant + the future $11.50 fee is only a $1 discount compared to buying a DWAC share. That $1 discount used to be much greater a year+ ago.
Someone please let me know if I'm correct about all that, because as someone holding both DWAC and DWACW I'd like to make sure that I'm understanding it correctly.
That is all correct. I buy the warrents because it gives me more leverage. I can buy 3 of them for the price of a share.
Bingo! Same here.
Closed at $16.97 but up after hours on this news to $18.00
I'm ready for the ride.
i got an e-mail about.