JRP3
Hyperactive Member
Strange.I didn't get any warrants, just the Proterra stock. I only had 100 shares of Arclight. Proterra went up a little today.
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Strange.I didn't get any warrants, just the Proterra stock. I only had 100 shares of Arclight. Proterra went up a little today.
It depends on what you had bought. You can normally buy just the SPAC stock, or you can buy a SPAC "unit". A "unit" is a share of the SPAC and a partial share of a warrant. (It seems that often 4 "units" turn into 4 shares and 1 warrant.)Strange.
Any idea why it converted to two different tickers, PTRA and PTRAW? I see both in my account now. I guess we got some warrants along with stock, I don't remember that ever happening before for any stock I've owned.
What ticker symbol did you buy Arclight under, ACTCU? Maybe Schwab has some delay in splitting the shares and warrants. TDAmeritrade had no delay but the basis is not yet displaying, I assume they'll get it straightened out eventually.It took a couple of days for Schwab to get my stock showing. I had a number account that said Arclight for a few days and it became PTRA today. The basis isn't set though. I'm not sure if the basis is going to be set to when I bought Arclight or when the merger was complete. I suspect it will be when the merger was complete.
Then follows a whole lot of warrant gobbldygook if anyone wants to try and explain it in simple EnglishEach New Proterra whole warrant entitles the registered holder to purchase one share of New Proterra common stock at a price of $11.50 per share,subject to adjustment as discussed below, at any time commencing on September 25, 2021, provided in each case that the Company has an effective registration statement under the Securities Act covering the New Proterra common stock issuable upon exercise of the warrants and a current prospectus relating to them is available (or the Company permits holders to exercise their warrants on a cashless basis under the circumstances specified in the Amended and Restated Warrant Agreement) and such shares are registered, qualified or exempt from registration under the securities, or blue sky, laws of the state of residence of the holder. Pursuant to the Amended and Restated Warrant Agreement, a warrant holder may exercise its warrants only for a whole number of shares of New Proterra common stock. This means only a whole warrant may be exercised at a given time by a warrant holder. The warrants will expire June 14, 2026, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation
No idea. My parents had a few ACTCU's and now is some non sense "transition shares something.." that can't be traded. It seems that they need to call E-Trade and have them split the unit into a stock and a warrant.
Proterra warrant details: https://d18rn0p25nwr6d.cloudfront.net/CIK-0001820630/f8a24fd8-8fb7-407e-98f7-bf3ae1b56c8d.pdf
Then follows a whole lot of warrant gobbldygook if anyone wants to try and explain it in simple English
Beginning on the date the notice of redemption is given until the warrants are redeemed or exercised, holders may elect to exercise their warrants on a cashless basis. The numbers in the table below represent the number of shares of New Proterra common stock that a warrant holder will receive upon such cashless exercise in connection with a redemption by the Company pursuant to this redemption feature, based on the “fair market value” of theNew Proterra common stock on the corresponding redemption date (assuming holders elect to exercise their warrants and such warrants are not redeemed for $0.10 per warrant), determined based on volume weighted average price of the shares of New Proterra common stock as reported during the 10 trading days immediately following the date on which the notice of redemption is sent to the holders of warrants, and the number of months that the corresponding redemption date precedes the expiration date of the warrants, each as set forth in the table below
This redemption feature differs from the typical warrant redemption features used in some other blank check offerings, which only provide for a redemption of warrants for cash (other than the private placement warrants) when the trading price for the shares of New Proterra common stock exceeds $18.00 per share for a specified period of time.This redemption feature is structured to allow for all of the outstanding warrants to be redeemed when the shares of New Proterra common stock are trading at or above $10.00 per public share, which may be at a time when the trading price of the shares of New Proterra common stock is below the exercise price of the warrants. The Company has established this redemption feature to provide the Company with the flexibility to redeem the warrants without the warrants having to reach the $18.00 per share threshold set forth above. Holders choosing to exercise their warrants in connection with a redemption pursuant to this feature will, in effect, receive a number of shares of New Proterra common stock for their warrants based on an option pricing model with a fixed volatility input
Yeah I get the basics but there are a lot more details in the filing, pages of it. Examples:
For anyone following GreenPower Matt Bohlsen wrote an article on them
GreenPower Stock Set To Benefit From U.S. Electric Bus And Transit Vehicle Boom (GP)
GreenPower Motor Company looks to be a likely winner in the U.S. shift towards electric vehicles. Biden plans US$174b for EVs and to give rebates and tax incentives to buy American-made EVs.seekingalpha.com
Stock has been pushed down this year but may have bottomed and be in recovery.