ALTMW
KINETIK HLDGS INC WTS
stock OTC

>If the stock trades at $400 (the company's market cap would need to increase from $1 billion to $4 billion) by September 2026, the warrants would trade at $45, which is 321 times the current price.
After the reverse split, it now takes ***THIRTY*** ML.WS warrants plus $345 to exercise for one share of ML stock.
$400 - $345 = ***$55***.
$55 divided by 30 = $1.83
***IF*** Moneylion common stock did trade at $400 in the next 16 months, then each warrant would trade for around $1.85 each, ***not*** $45.
>From your experience, has any other SPAC, after a reverse split, managed to hit the strike price?
No. None, ever.
Closest was KNTK, formerly ALTM. They did a one for 20 reverse split in July 2020; then their finances improved a lot. They started offering a $6 per year cash dividend, so the stock went to $90 per share. Then KNTK did a two for one forward split in June 2022, and now pays a $3 per year cash dividend.
KNTK now trades around $41 per share, or a split adjusted $4.10 compared to the original $10 SPAC NAV. The ALTMW warrants all expired worthless.
ML is now trading at $98, which is a split adjusted $3.27 compared to the original $10 SPAC NAV.

>If the stock trades at $400 (the company's market cap would need to increase from $1 billion to $4 billion) by September 2026, the warrants would trade at $45, which is 321 times the current price.
After the reverse split, it now takes ***THIRTY*** ML.WS warrants plus $345 to exercise for one share of ML stock.
$400 - $345 = ***$55***.
$55 divided by 30 = $1.83
***IF*** Moneylion common stock did trade at $400 in the next 16 months, then each warrant would trade for around $1.85 each, ***not*** $45.
>From your experience, has any other SPAC, after a reverse split, managed to hit the strike price?
No. None, ever.
Closest was KNTK, formerly ALTM. They did a one for 20 reverse split in July 2020; then their finances improved a lot. They started offering a $6 per year cash dividend, so the stock went to $90 per share. Then KNTK did a two for one forward split in June 2022, and now pays a $3 per year cash dividend.
KNTK now trades around $41 per share, or a split adjusted $4.10 compared to the original $10 SPAC NAV. The ALTMW warrants all expired worthless.
ML is now trading at $98, which is a split adjusted $3.27 compared to the original $10 SPAC NAV.