Maple Fun

The preliminary result out: $750 no pro rata quite positive Now without the SIB overhang, ELF is very interesting *Lagged in the value stock rally due to tender offer (now removed) *Freefloat significantly shrinked due to SIB, I guess the company bought back nearly 20% of real free float It would not surprise me if we could see 8XX by the year end

Last SIB was oversubscribed due to market collapse back in March. I bet this time would be different!

Maybe people are buying it for put call spread? For June 2021, right now you can buy $20 put at $1.7 and sell $25 put at $5, so that's a 66% potential return (3.3/5) for half a year while the stock is trading at ~$26. That seems juicy to the bulls! If PSTH indeed dropped below $20 by June 2021, that could well mark the end of SPAC mania!!!

Good things can happen to boring stocks. Another tender offer announced: $40 millions, $6.5 to $7.5

No luck with MSCI this time..need to wait until next reveiw in May 2021 In the meantime, share price keeps edging up

My dream scenario is the price drops for this very reason. I then pick it up in my tax sheltered and tender. I have known this one for awhile, it seems a fairly safe arb. At current prices, it's not that lucrative so I will wait. Maybe we get a drop. I hope so but it may never happen...Taxable investor can simply sell shares on the market if they want to and many institutions (pension, endowment, etc) are tax exempt so they can play the tender arbitrage here.

proxy out on sedar. paid-up capital only $18 which means a deemed dividend at least $632 or even $700+ per share. That's HUGE for a taxable account...so unless you are using a registered account or in a very low tax bracket, tender seems unwise.

Deal seems busted...MSCI inclusion back on the table

https://aa5a171d-c337-46f9-9c9a-24fe6cad1d9c.filesusr.com/ugd/2ff03f_68488a6391e74bc488a27624559a190d.pdf The last page says they had $6.512m in the liquidation account, as of 12/31/19. It turns out to be $0.397 per share. No idea about how much spent and to be spent since then...

They are planning a MOEX secondary list. Could be a catalyst. Previous case was MOEX:TCSG. And maybe Russian investors love yield play???

Yandex jumped 12% on Nasdaq upon the news.. The combination makes a lot of sense.. Uncertain about the stock portion of the deal, but still a lot of room for TCS to catch up...may be a good candidate for special situation play now...

It plays out very well: MOSCOW (Reuters) - Russian bank TCS Group Holding TCSq.LTCSGDR.MM is in talks to sell its online bank Tinkoff to Russian Internet giant Yandex YNDX.O for $5.48 billion, the two companies said on Tuesday. The idea of integration between the two industry leaders was first publicly floated in June 2019 when Oleg Tinkov, the main shareholder of Russia's TCS group, told here Yandex Chief Executive their companies together would be worth more than $20 billion. “The parties have come to an agreement in principle on a transaction that would consist of cash and share consideration worth approximately $5.48 billion or $27.64 per Tinkoff share...,” Yandex said.

BTW, it seems that they always paid $0.065, any particular reason for this number?

That's a surprise! Already marked this as a zero

This thing keeps dropping....