Warrant (aren’t) I smart?

Final primer with $cciv $qs $nga $stpk

Warrant (aren’t) I smart?  Maybe

We have established two basic tenets in pricing of warrants for SPACs.  

1)      There is risk of $0 or total wipeout in the event of non-closure of a deal.

2)      The warrants in nearly all cases are “exercisable” on the LATER of 30 days post combination or 12 months after the IPO of the SPAC. 

On the risk of total wipeout…