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re: Waitr Going Public date set
Posted on 11/8/18 at 6:38 pm to whodatigahbait
Posted on 11/8/18 at 6:38 pm to whodatigahbait
quote:
Basically if it trades above $18 for a certain time they can force you to convert the warrants into common stock. Sometimes on a cash basis sometimes on a stock basis.
How do they force you to convert?
1
Posted on 11/9/18 at 12:00 am to La Place Mike
quote:I did it in BR for a short while after my morning classes and before my afternoon labs... they charge the restaurants 15% and many restaurants do charge more. They aren't secret about it either, so I have to assume it is allowed.
Waitr charges the restaurant 14% and will not let the restaurant adjust their prices to make up for the loss.
Now, the way they treat their drivers ... the company is in for a hurtin' if the drivers ever unionize.
Posted on 11/9/18 at 6:13 am to SlapahoeTribe
Right now:
LCA $10.78
LCAHW $1.34
LCAHU $15.30
Why is LCAHU more expensive than LCA and LCAHW put together, if that's what it is?
LCA $10.78
LCAHW $1.34
LCAHU $15.30
Why is LCAHU more expensive than LCA and LCAHW put together, if that's what it is?
Posted on 11/9/18 at 8:57 am to Statestreet
How is the service in your area? In my area, Central MS, I would not recommend using them at all. 30 min to an hour wait and sometimes they are no shows. I want it to work, but using Peter Lynch's model for investing in well run companies, I'd have to pass at this point using my anecdotal experience.
Posted on 11/9/18 at 9:27 am to blakenew
quote:
How do they force you to convert
They have the right to buy back the warrant for $0.01 in that scenario, so they make that call. Obviously as a holder of the warrant, you would not want that so you are basically forced to buy the stock (which of course you can immediately flip).
One follow up, I believe from my reading of the prospectus that LCAHW is a half a share warrant:
Our units, each of which consists of one share of our Class A common stock and one warrant to purchase one-half of one share of our Class A common stock, began trading on Nasdaq under the symbol “LCAHU” on May 26, 2016. On July 19, 2016, we announced that holders of our units could elect to separately trade the Class A common stock and the warrants included in the units, or to continue to trade the units without separating them. On July 21, 2016, the Class A common stock and warrants began trading on Nasdaq under the symbols “LCA” and “LCAHW,” respectively. Each warrant entitles the holder to purchase one-half of one share of our Class A common stock at a price of? $5.75 per half share, subject to adjustments as described in our final prospectus dated May 25, 2016, which was filed with the SEC. Warrants may only be exercised for a whole number of shares of Class A common stock and will become exercisable 30 days after the completion of the business combination.
Posted on 11/9/18 at 2:00 pm to igoringa
quote:
Our units, each of which consists of one share of our Class A common stock and one warrant to purchase one-half of one share of our Class A common stock, began trading on Nasdaq under the symbol “LCAHU” on May 26, 2016. On July 19, 2016, we announced that holders of our units could elect to separately trade the Class A common stock and the warrants included in the units, or to continue to trade the units without separating them. On July 21, 2016, the Class A common stock and warrants began trading on Nasdaq under the symbols “LCA” and “LCAHW,” respectively. Each warrant entitles the holder to purchase one-half of one share of our Class A common stock at a price of? $5.75 per half share, subject to adjustments as described in our final prospectus dated May 25, 2016, which was filed with the SEC. Warrants may only be exercised for a whole number of shares of Class A common stock and will become exercisable 30 days after the completion of the business combination.
Yes i hadn't looked in a while. Some SPACs do half a warrant, some do warrants worth half a share.
In this instance you need two warrants to exercise one share.
Gets you to the same place.
This post was edited on 11/9/18 at 2:52 pm
Posted on 11/9/18 at 2:01 pm to blakenew
quote:
Right now:
LCA $10.78
LCAHW $1.34
LCAHU $15.30
Why is LCAHU more expensive than LCA and LCAHW put together, if that's what it is?
Makes no sense. Arbitrage opportunity to short LCAHU and buy the stock and warrants if you could get the borrow on LCAHU (you can't).
FYI LCAHU is down $2.16 on 309 shares.
Posted on 11/9/18 at 2:41 pm to Doctor Strangelove
quote:
How is the service in your area?
I’m in the Lake Charles area, so it’s been here awhile. Overall it is reliable. I’ve had a few items left off the delivery before but they corrected it both times. I’ve never used Grub Hub or Uber eats, but I’ve looked at their apps and online menus and Waitr is much more user friendly. Waitr has also shown to have better customer retention than the competitors. I’m invested with them- hoping they continue to take up market share from the big boys.
Posted on 11/11/18 at 5:21 am to whodatigahbait
quote:
Makes no sense. Arbitrage opportunity to short LCAHU and buy the stock and warrants if you could get the borrow on LCAHU (you can't). FYI LCAHU is down $2.16 on 309 shares.
There is no active market for lcahu. They have had one trading day with over 1000 shares in a month! Hence the price is scattered and no real economic connection to the share plus warrant.
Posted on 11/11/18 at 6:56 am to La Place Mike
quote:
will not let the restaurant adjust their prices to make up for the loss.
Either waitr doesn’t enforce it or you are wrong. Most restaurants in BR that I’ve iordered bump their prices to cover the percentage.
Posted on 11/11/18 at 7:00 am to notbilly
quote:
Either waitr doesn’t enforce it or you are wrong. Most restaurants in BR that I’ve iordered bump their prices to cover the percentage.
Do you have some examples to show and then we can let customer support know.
Posted on 11/12/18 at 6:18 pm to Statestreet
Anyone bought in yet while it is trading under LCA?
Posted on 11/13/18 at 6:28 am to LSURoss
quote:
Anyone bought in yet while it is trading under LCA?
Lots of people have. People are expecting LCA to increase in value in a couple days when the merger is publicly announced. I think the sharenames will convert to WATRH or something similar.
Posted on 11/15/18 at 1:23 pm to blakenew
So if you buy LCA right now, it will convert into WAITR tmmw?
Posted on 11/15/18 at 1:31 pm to Modern
Following bc LCA is climbing today.
Posted on 11/15/18 at 1:41 pm to Modern
quote:
So if you buy LCA right now, it will convert into WAITR tmmw?
I'm not completely sure how that will work.
Posted on 11/15/18 at 5:22 pm to blakenew
quote:
quote:
Anyone bought in yet while it is trading under LCA?
Lots of people have. People are expecting LCA to increase in value in a couple days when the merger is publicly announced. I think the sharenames will convert to WATRH or something similar.
Not really how it works. Once the merger is approved LCA will start trading under the new ticker. And usually with SPACs the exact opposite happens, the stock trades down after it starts trading under the new symbol.
Posted on 11/16/18 at 6:13 am to LSURoss
BusinessWire Waitr/LCA merger complete
It’s on the ticker this morning WTRH
quote:
Mr. Fertitta commented: “We are pleased to complete the merger with Waitr. I believe they are the best-in-class, on-demand food ordering and delivery partner for customers and restaurants. They are also positioned well to take advantage of the massive unpenetrated market for online delivery, particularly in secondary markets.”
Mr. Meaux commented: “We are excited to partner with Tilman and the Landcadia team and we believe this is a great opportunity. Our combined expertise, experience and resources, and being a publicly-traded company will further enable us to accelerate our growth in the markets we currently serve, expand into new markets and take advantage of potential opportunistic acquisitions.”
It’s on the ticker this morning WTRH
This post was edited on 11/16/18 at 6:21 am
Posted on 11/16/18 at 6:32 am to Statestreet
What is it expected to trade at
Posted on 11/16/18 at 6:48 am to castorinho
It will open at $11.94, the same price LCA closed at yesterday.
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