SPACs - Redemption Rights
Am trying to learn more about SPACs, would appreciate some help with the below questions:
Are redemption rights granted to investors who purchase a SPAC on the open market as opposed to the IPO?
Can you redeem at any time or only after a de-SPAC and the shareholder vote?
Can you keep your warrants if you redeem?
Do the answers to the questions above depend on the idiosyncratic structure of the SPAC or are they uniform across all / most SPACs?
Following -- SPAC Rights
1) They are afforded to both primary and secondary market purchased shares. Sometimes subject to being holder as of a record date.
2) You can only redeem at specified events such as a de-SPAC shareholder vote or an extension shareholder vote.
3) Yes.
4) The three specific questions above are uniform across all SPACs.
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