Subversive Capital Acquisition Corp - Class A (Restricted Voting) SBVCF

Any thoughts on Subversive's comments from Thursday?

[jthottam]

On a webcast, the chairman of Subversive mentioned that Subversive shares "will be at 15 by the end of next week" and that somehow the redemption vote was supposed to be the big milestone/difference.  He went on to explain the lack of signifcant appreciation in share price, in addition to the redemption vote, was because the original shareholders were trading out and the new shareholders would be long term holders.

My only two pieces of rationale could be this:

1. the "Original" investors likely received some portion in fractional warrants. By investing and then exiting shortly afterwards, the original investors breakeven as they exit slightly above their cost basis but also walk away with fractional warrants that have strike prices north of that should their be an upside opportunity in the next five years (I believe thats the duration of the warrants).

2. Some shareholders of the purchased companies (e.g., Caliva, LCV) were trading out (although i would have thought they would be under lockups, so I don't know if this would be true).

Outside of that, I have no idea why an investor would place money into a firm only to exit two months later to capture pennies on the dollar. So the warrant's theory and the purchased company original shareholders selling are all I could come up with.

Any additional thoughts?