Gordon Johnson: SPCX to TSLA deal terms worsen as SPCX share price declines

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SPCX share drop worsens TSLA deal terms

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Gordon Johnson: SPCX to TSLA deal terms worsen as SPCX share price declines — SPCX share drop worsens TSLA deal terms

Gordon Johnson, CEO / Analyst at GLJ Research, analyzes the evolving terms between SPCX and TSLA.

He notes that eight days ago, a proposed SPCX acquisition of TSLA implied issuing 57% more shares with legacy holders retaining about 64% of the resulting entity. Since then, SPCX's share price fell 46% to $113 while TSLA dropped 24% to $308. If the same deal were made today, it would require issuing 82% more shares, leaving legacy holders with just 55%. Johnson concludes that the transaction currency has deflated faster than the underlying asset.

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Johnson has previously monitored shipping activity, noting that no oil tankers crossed the straight over the weekend as oil prices held steady. He has also commented on U.S. policy shifts, highlighting Kevin Warsh as a possible Federal Reserve chairman with a focus on those affected by Fed policy. These earlier observations reflect his ongoing coverage of both market events and policy discussions.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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