Ticker: ENFA
Description of why you are requesting DD: I saw an article while looking for something else mention this stock, it looks like the merge is happening on Tuesday. The 94% of investors redeemed their stock so its apparently left with a $16 million float.
Applicable links to news articles or Reddit analysis:
https://www.thestreet.com/boardroomalpha/spac/dmyq-planet-buzzfeed-redemptions-dwac
“Shareholders approved the ENFA deal with BuzzFeed and it should start trading as BZFD on December 6. 94.4% of shareholders redeemed leaving only $16.2M in the trust. Watch for this to be a low float squeeze, but take care as that can cut both ways.”
Most recent news I’ve seen regarding Buzzfeed going public haven’t been positive. From a recent WSJ article:
"BuzzFeed Inc. will raise roughly $16 million from its public listing, after the blank-check company it is merging with suffered a wave of investor withdrawals, according to a securities filing and people familiar with the situation. Withdrawals are expected to substantially reduce Buzzfeed’s cash on hand, and Buzzfeed is expected to receive a fraction of $287.5 Million held by the SPAC.
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