Noticed repos39 mention in another Discord a ticker I’ve never seen before: $BOXD
$BOXD de-spacced in around mid December: Boxed, Inc. Announces Filing of Super 8-K in Connection with the Completion of Its Business Combination with Seven Oaks Acquisition Corp.
Somehow they’ve been staying above $10 despite being a de-SPAC in an anti-SPAC market.
Float = 6.6M
February Chain - 16,528 OI on the 12.5c, representing potentially up to 25% of the float
On UW we can see that the bulk of the OI was opened on January 11 and 12.
Looking back at the flows on January 11 and 12, it does look like the calls are probably mostly Buy to Open, given the smashing of the ask. I have no idea who or why the buyer is doing this for $BOXD.
This is by no means a proper gamma squeeze setup or anything, but just putting this ticker on the forums in case it does set up over the next couple of weeks, and in case anyone else starts catching wind of $BOXD. Let’s gather info in this post.
Looks like the final spread on the 12.5c today was 0.15-0.30. Quite cheap. I’m not entering as I’m quite strapped for cash rn but otherwise I would’ve wanted to buy a lotto size as I like the r/r from here. And the chart looks kinda like it’s consolidating for another move up but it is very low volume so idk.
That’s some power hour on 12/9…those flows are definitely weird, what’s the play there? I’ll definitely be adding this to my lists as well, feels like someone knows something here
Recent filing for changes in beneficial ownership. Not exactly sure of the implications at first look. I’m busy at work currently, I’ll look into it a little more when I have time if others haven’t by then.
That bulk call purchase does seem weird.
- Insider buying – this seems like too obvious and flagrant to be insider buying. Too noticeable, although I don’t know much about how often/likely it is for insider buying to actually be investigated and punished by the SEC.
- Repos39 – he could have had loaded up on calls and then be waiting for a good time to flood subreddits and discords with his DD. But if so why buy Feb calls in Jan and wait till now? Also seems risky considering it already deSPACed
- I’ve heard of some people using SPACs as a modern bank account – but this is a deSPAC and also a call purchase not shares purchase
I mean these guys have to get in secretly right?
They know when they post DD it is going to go up so why not hold it for a while before pumping it?
That’s the one that makes most sense to me. He’s already made his buy in before any mention on a discord/subreddit.
Agree with this, if not Repos maybe someone else who’s going to post DD to pump. Might grab a few just to see if anything happens.
Why buy all at once at ASK goin as far as $0.70 though? Could have built up a bunch over time slowly if the plan was to pump it later. In any case I’ll be watching it to see if there’s money to be made
It was for Gary Matthews and Seven Oaks LLC. Gary Matthews is Seven Oaks LLC’s chairman. Seems like they focus on ESG targets. Haven’t looked into their stake in BOXD but it’s more than 10% controlling with Gary and Seven Oaks as per filings.
On OPEX, 01/21/2022 (interesting timing or nothingburger?), Gary acquired 1,396,321 shares personally raising his stake to 1,416,321. At the same time, Seven Oaks disposed of most of their stake by selling 5,120,300 shares to have a remaining 82,000 shares.
Warrants, 1-to-1 with exercise price of $11.50, were also done on 01/21. Seven Oaks also sold all their warrants, 5,587,500. And then Gary directly about 330,000 putting his position at 330,000 warrants.
always like to a put a face to the name:
My understanding was that Gary acquired the 5M shares too and disposed them in favor of Seven Oaks, meaning the 5M shares are currently owned by Seven Oaks.
I stand corrected. Thanks BBarna! I guess I misunderstood the filings. Just wondering then who’s position is the 82,000 shares remaining that are indirectly owned?
My understanding is that the document is from Gary’s point of view, so that is also his shares, totaling 1,498,321 shares
Could be. This is really sneaky but at this point I wouldn’t be surprised.
If it stays low into tomorrows close I may get some calls to start next week.
If this a PnD those guys would look “good” calling a big PM on a Monday.
Interesting find, if this is a planned P&D whoever purchased these is already down around 72%. Why not just slowly accumulate over time or at least double down at 0.15? Could it just be a hedge for a large short position?