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Open original source ↗Secondly, and more importantly, I want to temper retail investors’ involvement with my SPACs. This deal was built for institutional investors. Specifically, 98.7 percent went to large institutions, each picked explicitly by me. The remaining 1.3 percent was allocated to retail investors.
We designed it this way, almost entirely institutionally backed, because, as I have learned, these vehicles are not ideal for most retail investors. They are for investors who can underwrite the volatility, place it as part of a broader structured portfolio and have the capital to support the company over the long run.
For anyone in the retail market who still chooses to disregard my advice to avoid SPACs, please carefully review our disclosures and make a fully informed decision.
Lastly, I will minimize my public commentary about AEXA and its potential targets and will have minimal media and communications about it. I want to put to bed any suggestion that this and future offerings are retail investor-focused, and I hope this achieves this.
I hope this provides transparency and clarity on my incentives.
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https://t.co/cDihFz1vCy
chamath ↗