THWWW
Target Hospitality Corp. Warrant expiring 3/15/2024
stock NASDAQ

It depends on the deSPAC and what their prospects for recovery might be, A few examples.
IEA was a deSPAC, they install wind and solar utility projects and other civil engineering. IEA had a liquidity crunch after some severe weather delayed projects. Stock fell to $1, warrants to under 4 cents. Once the weather improved, they started earning money and kept growing. IEA stock went to $24, IEAWW warrants ( 2:1 warrants ) went to $6. IEA later was sold to MasTec. That was a potential 150x on those warrants.
TH, Target Hospitality, does temporary housing and hospitality for oil field workers, etc. They went public in late 2019, just before COVID hit. Their stock sank to $1, warrants went to 5 cents. Then COVID eased, TH got some government contracts to house migrants, and TH stock went to $16, THWWW went to $5. That's a 100x gain.
Those happened before interest rates went up to current levels, though.
More recently, OPFI deSPACed in July 2021, dropped under $2 in 2023, OPFI.WS were selling for 3 to 4 cents in October. OPFI had a good earning report last November, OPFI jumped to $5 just after Christmas, OPFI.WS jumped up above 40 cents. That was a potential 10X.
So obviously very risky, but if you spot a company with the potential to rebound, could be a very nice return.

It depends on the deSPAC and what their prospects for recovery might be, A few examples.
IEA was a deSPAC, they install wind and solar utility projects and other civil engineering. IEA had a liquidity crunch after some severe weather delayed projects. Stock fell to $1, warrants to under 4 cents. Once the weather improved, they started earning money and kept growing. IEA stock went to $24, IEAWW warrants ( 2:1 warrants ) went to $6. IEA later was sold to MasTec. That was a potential 150x on those warrants.
TH, Target Hospitality, does temporary housing and hospitality for oil field workers, etc. They went public in late 2019, just before COVID hit. Their stock sank to $1, warrants went to 5 cents. Then COVID eased, TH got some government contracts to house migrants, and TH stock went to $16, THWWW went to $5. That's a 100x gain.
Those happened before interest rates went up to current levels, though.
More recently, OPFI deSPACed in July 2021, dropped under $2 in 2023, OPFI.WS were selling for 3 to 4 cents in October. OPFI had a good earning report last November, OPFI jumped to $5 just after Christmas, OPFI.WS jumped up above 40 cents. That was a potential 10X.
So obviously very risky, but if you spot a company with the potential to rebound, could be a very nice return.