ipoe.un at about $20 seems much better then the stock at 19 by itself. I just don't fully know how this stuff works.
And lmnd, smh. I didn't blindly follow Chicken Genius.
I did bunch of watching on Units and Warrants past few days, bc I was confused with ratio shyt too
So a unit gets you one share and one fourth a warrant (1/4 for IPOE units, will vary by spac).
If you want to break out a unit, make sure you have multiple of 4. Your brokerage may charge a fee to break out to commons and warrants.
One full warrant gives you the right to buy more common shares at 11.50. This is why spacs always have that dilution dip at some point.
If you believe keep going up/sideways and no risk that merger doesn't go through, warrants are the way. hypothetical, its price (all things equal) should be current share common price minus 11.50... mathematically... still risk (or value) of time depending how the warrants are currently priced