90%+ of spacs allow you redem a warrant in the future at a price of $11.50 a share.
SPAC List (List of Active and Pre-IPO SPACs)
Check the "units and warrants " column , most say " W: [1:1, $11.5]" which describes the situation above.
The SEC filing will say when you must redem. (Language like commons above $18 for twenty consecutive days or something). You can always trade the warrants if you don't want to redem for a share at $11.50
Edit: if spac doesn't find a target, warrants are worthless aka zero. No backstop like commons
This dude has a few good videos on warrants:
Had to toss y'all some rep for those. BREZ is the first SPAC I've looked at getting in at pretty much the ground floor and I wanted a better understanding of the options. At the price I think I'll just stay with the common stock for now and just add to it.