TUGC - Spac merger that will most likely be terminated

Just looked through the 424B3 for the merger meeting. Looks like this deal does not have a PIPE, so with the typical 90% redemptions we’ve been seeing, this deal will almost certainly fall through.

Their minimum cash conditions requires that that they have roughly 62% redemption or less.

Not sure if there is a way to play the deal falling apart other than shorting warrants (which IMO is a bad risk/reward profile since they’re not exactly trading that high), but if you were thinking about buying warrants for this, definitely stay away.