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A SPAC raises $784 by selling 80 shares in an IPO, and the sponsor gets...

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Finance

A SPAC raises $784 by selling 80 shares in an IPO, and the sponsor gets an additional 20 shares for a nominal fee. Now assume a merger is announced, which leads to redemptions of 43% of the shares sold in the IPO (of course the sponsor keeps their shares). How much cash per share remains in the SPAC?

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