Thread by @SharogradskyM

Sometime capital markets tend to surprise you. After Sun Corp $6736.t announcement of Cellebrite SPAC listing at 2.4B$ shares dropped ~17% today - two days after the announcement- I don’t know what math sellers are using but calculation is pretty simple . cellebrite.com/en/cellebrite-…

➡️ SPAC value 2.4B$ -> sun holds 43.2% -> Value to Sun Shareholders 1.05B$
➡️Dividend +Earnout -> 250M$ (after tax)
➡️Net Cash Sun corporate 120M$
➡️Two business at Sun ->Zero

✅Total Assets Value 1.4B$ let assume NAV discount of 30% so net assets 1B$ or immediate upside of 50% to today market cap of 700M$.

I think Cellebrite also has huge upside since listed very cheap at 8xARR when $PLTR trades at x30 with same growth rates - deal was oversubscribed

Why it isn’t just another Japan Co that will ever trade at huge discount? Oasis Management activist shareholder replaced all management and board members at April and raised their stake to 16% of Company.

I assume they didn’t make all those activist steps just to relax and observe such a huge discount with a glass of 🍾 -I hope Shares of Cellebrite will be distributed finally to Sun shareholders $6736.t and will result with immediate upside of 70-80% 🤩🥂

@puppyeh1 @vperelman @Adam_Wyden take a look