$CLSK the acquisition of $GRDI is an all-stock transaction, not a cash one, so as an arbitrage play is difficult.
For proposal in cash, check BARK and PETS. Both trade at a 40% discount of buy-out proposals in cash, with also both received one more proposal each, if the higher offers don't work for some reason.
$BKKT people asking why the warrants are so cheap, my take of why I personally chose to make the bet. Do your own due diligence. Not financial advise, note this is a bet I expect to win.
1) you don’t have a share you have the right to buy a share. The warrants are worthless under the exercise price of $287.50
2) warrants can carry through mergers but not guaranteed, while they are in talks with DJT we don’t know if it’s a buy out, % interest stake, merger or what. If you’re looking for an example of how warrants can be handled in a merger look at $GRDI and $CLSK. The warrants carried to $CLSKW
I plan to lose 100% of my investment, If they do hit a value of 3.2Billion ish. I bought each warrant at .45 centsish…I’d have to pay .01 cent to convert a warrant to a share over if the exercise price of $287.50.
I picked up 45,000 warrants cost me $22,000ish if i lose it all im ok with it. If it hits exercise I see a win of roughly $12,000,000. If I’m missing anything let me know 😆
$CLSK The T12 halt was already revealed by $CLSK as an error in converting the warrants of the $GRDI takeover. With $BTC rising above 80K, an increase can be expected here. The only question is when trading will resume. The HALT was actually the best thing that could have happened to us longs. Looking forward for a huge short squeeze whenever trading resumes and $BTC holds over 80K
$CLSK $GRDI
One day all miners up big, CLSK down..huh?
After the close they announced a huge shelf offering.
Clearly ATM sellers get a leaky call about it coming.
$CLSK Dear Nasdaq SEC if you are going to look at irregular trading in CLSK please also look at the truly strange trading in $GRDI just before cleanspark said they would buy them.....
$GRDI is totally unacceptable the ,worthless shares, may GRDI never rise again, CLSK had been good but this acquisition will make CLSK go bankrupt in future.
$GRDI $CLSK 0.069593885 (the “Exchange Ratio”) of a fully paid and nonassessable share of CleanSpark so:
$10.73 ( current price of cleanspark)
* 0.069593885 (the “Exchange Ratio”)
= 74.6 cents (the value of one GRDI share)
well done!
one day Cleanspark it's self will also be worth around 75 cents
$GRDI Griid Infrastructure, Inc. ( GRDI +0.53% ▲ ) has issued an update.
CleanSpark, Inc. finalized its acquisition of GRIID Infrastructure Inc., transforming GRIID into a wholly owned subsidiary. The merger agreement facilitated a stock exchange, where GRIID shareholders received CleanSpark stock, and all GRIID stock options and warrants were converted into CleanSpark equivalents. Post-merger, GRIID stock was delisted from NASDAQ, and its executive team resigned. The merger was approved by a significant majority of GRIID shareholders, marking a strategic expansion for CleanSpark in the energy sector.
$GRDI check also Heramba Electric, ticker PITA. It trades at a EV/Sales below 0.3 and it is debt free with about $30 million cash. It could be an acquisition target in the future, or move higher after some exposure, as it is also underfollowed.
