$AVCT & $AVCTW arbitrage opportunity here. Thread below πŸ‘‡
$AVCT ran up in AH last night to ~$8 from $5. This was on news of a PR that they were offered a nonbinding LOI to take the company private at $9/share.
However, the LOI does not include specifics on what will occur to the 675,000 outstanding $AVCTW. Some speculate that warrants in the new company (if this deal goes through will be issued.)
Per the S-1 "Each unit consisted of one share of our common stock, one-half of one warrant, each whole warrant entitling the holder thereof to purchase one share of our common stock at a price of $11.50 per share" sec.gov/Archives/edgar…
With this expected runup in stock price AH because of the PR. We'd expect the same runup in warrant price, however, we DID NOT see that. Warrants are still trading below $1. Fair value for the warrants should be ~$2 (over a 100% increase from current price).
86% of the company is owned by insiders and they are increasing their stake in the company...

β€’ β€’ β€’

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