October 14, 2021
You can't make everybody happy, especially in this business -- or can you? Two SPACs share a rare distinction: They are among the most widely held micro-cap names in the hedge fund universe, and nobody's exiting, selling or even holding.
B. Riley Principal 250 Merger Corp., the largest shareholder of check casher Sphinx Trading, has 30 buyers.
TCW Special Purpose Acquisition Corp., which has 27 buyers, is more opaque about any purchases it has in the pipeline. It also has another class of stock -- STPQ.U as opposed to STPQ -- which tells a different story. This alternate class, with 32 owners and 28 exits, shows considerably less consensus.