- Carney Technology Acquisition Corp. II Announces Intent to Liquidate
Feb 10, 2023
Palo Alto, California, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Carney Technology Acquisition Corp. II (the “Company”) announced today that it will be unable to consummate an initial business combination and intends to dissolve and liquidate in accordance with the provisions of its Amended and Restated Certificate of Incorporation, as amended (“Liquidation”). On December 14, 2022, the Company held a special meeting in lieu of an annual meeting of the stockholders (the “Meeting”) whereby the stockholders approved an extension of the date by which the Company has to complete an initial business combination from December 14, 2022 to June 14, 2023 (the “Extension”). At the time of the Meeting, the Company was in active discussions with a partner company and believed it could complete a business combination if the Extension were to be approved by the stockholders. However, after careful consideration, the Company has determined it would be unable to deliver a high quality transaction to stockholders even with an Extension. Therefore, due to the recent developments, the Board of Directors of the Company has determined not to further extend the term the Company has to complete an initial business combination beyond February 14, 2023 and proceed with the Liquidation.
As of the close of business on February 14, 2023, the Class A common stock that were included in the units issued in the Company’s initial public offering (“Public Shares”) will be deemed cancelled and will represent only the right to receive the redemption amount.
In order to provide for the disbursement of funds from the trust account, the Company has instructed the trustee of the trust account to take all necessary actions to liquidate the securities held in the trust account. The proceeds of the trust account will be held in a non-interest bearing account while awaiting disbursement to the holders of the Public Shares. Record holders will receive their pro rata portion of the proceeds of the trust account by delivering their Public Shares to Continental Stock Transfer & Trust Company, the Company’s transfer agent. Beneficial owners of Public Shares held in “street name,” however, will not need to take any action in order to receive the redemption amount. The redemption of the Public Shares is expected to be completed within ten business days after February 14, 2023.
The Company’s sponsor has agreed to waive its redemption rights with respect to its outstanding Class B common stock issued prior to the Company’s initial public offering and the Class A common stock contained in the units issued in a private placement concurrent with the initial public offering.
There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless.
About Carney Technology Acquisition Corp. II
Carney Technology Acquisition Corp. II. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on companies in the technology industry. The Company is led by Chief Executive Officer and Chief Financial Officer and Chairman David Roberson, Chief Acquisition Officer Lloyd Carney and President Gale England.
Forward-Looking Statements
This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact person: David Roberson
Title: Chief Executive Officer and Chief Financial Officer
Phone: (619) 736-6855
Address: 630 Ramona St., Palo Alto, California 94301
Email: info@carneytechnology.com
- Carney Technology Acquisition Corp. II Announces Intent to Liquidate
Feb 10, 2023
Palo Alto, California, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Carney Technology Acquisition Corp. II (the “Company”) announced today that it will be unable to consummate an initial business combination and intends to dissolve and liquidate in accordance with the provisions of its Amended and Restated Certificate of Incorporation, as amended (“Liquidation”). On December 14, 2022, the Company held a special meeting in lieu of an annual meeting of the stockholders (the “Meeting”) whereby the stockholders approved an extension of the date by which the Company has to complete an initial business combination from December 14, 2022 to June 14, 2023 (the “Extension”). At the time of the Meeting, the Company was in active discussions with a partner company and believed it could complete a business combination if the Extension were to be approved by the stockholders. However, after careful consideration, the Company has determined it would be unable to deliver a high quality transaction to stockholders even with an Extension. Therefore, due to the recent developments, the Board of Directors of the Company has determined not to further extend the term the Company has to complete an initial business combination beyond February 14, 2023 and proceed with the Liquidation.
As of the close of business on February 14, 2023, the Class A common stock that were included in the units issued in the Company’s initial public offering (“Public Shares”) will be deemed cancelled and will represent only the right to receive the redemption amount.
In order to provide for the disbursement of funds from the trust account, the Company has instructed the trustee of the trust account to take all necessary actions to liquidate the securities held in the trust account. The proceeds of the trust account will be held in a non-interest bearing account while awaiting disbursement to the holders of the Public Shares. Record holders will receive their pro rata portion of the proceeds of the trust account by delivering their Public Shares to Continental Stock Transfer & Trust Company, the Company’s transfer agent. Beneficial owners of Public Shares held in “street name,” however, will not need to take any action in order to receive the redemption amount. The redemption of the Public Shares is expected to be completed within ten business days after February 14, 2023.
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The Company’s sponsor has agreed to waive its redemption rights with respect to its outstanding Class B common stock issued prior to the Company’s initial public offering and the Class A common stock contained in the units issued in a private placement concurrent with the initial public offering.
There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless.
About Carney Technology Acquisition Corp. II
Carney Technology Acquisition Corp. II. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on companies in the technology industry. The Company is led by Chief Executive Officer and Chief Financial Officer and Chairman David Roberson, Chief Acquisition Officer Lloyd Carney and President Gale England.
Forward-Looking Statements
This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact person: David Roberson
Title: Chief Executive Officer and Chief Financial Officer
Phone: (619) 736-6855
Address: 630 Ramona St., Palo Alto, California 94301
Email: info@carneytechnology.com
- Carney Technology Acquisition Corp. II Announces Postponement of its Special Meeting of Stockholders to December 14, 2022 and That Trust Account Will Bear Interest and Will Not Be Decreased Due to Excise Tax
Dec 12, 2022
Palo Alto, California, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Carney Technology Acquisition Corp. II (“the Company”) (NASDAQ: CTAQ) today announced that its special meeting in lieu of an annual meeting of the stockholders (the “Meeting”) will be postponed from December 13, 2022 to 9:00 a.m. Eastern Time on December 14, 2022. The record date for the Meeting to vote on the Extension Amendment remains the close of business on November 10, 2022 (the “Record Date”). Stockholders who have previously submitted their proxies or otherwise voted and who do not want to change their vote need not take any action. Stockholders as of the Record Date can vote, even if they have subsequently sold their shares. In connection with the postponement of the Meeting, the Company has further extended the deadline for holders of the Company’s Class A common stock issued in the Company’s initial public offering to submit their shares for redemption in connection with the Extension Amendment to 5:00 p.m. Eastern Time on December 12, 2022. Stockholders who wish to withdraw their previously submitted redemption request may do so prior to the rescheduled meeting by requesting that the transfer agent return such shares by 8:00 a.m. Eastern Time on December 14, 2022.
Additionally, to mitigate the current uncertainty surrounding the implementation of the Inflation Reduction Act of 2022, in the event that the extension (the “Extension”) of the time period the Company has to complete an initial business combination (the “Business Combination”) is implemented as described in the Proxy Statement (defined below), Carney Technology Sponsor II LLC (the “Sponsor”), the sponsor of the Company, or a designee, will indemnify the Company against any excise tax liabilities with respect to any future redemptions that occur after December 31, 2022 and prior to or in connection with a Business Combination or liquidation of the Company. Additionally, if the Extension is implemented, the Company plans to maintain the remaining amount in its trust account (the “Trust Account”) in an interest bearing demand deposit account at a bank. Interest on such deposit account is variable and currently expected to be approximately 3.0% per annum. If the Extension is implemented, the Sponsor has agreed to deposit into the Trust Account $0.04 for each public share that is not redeemed for each month that is needed by the Company to complete the Business Combination until June 14, 2023.
About Carney Technology Acquisition Corp. II
Carney Technology Acquisition Corp. II is a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. The Company intends to focus on a target business in the technology industry. The Company is led by Chief Executive Officer David Roberson, President Gale England and Chief Acquisition Officer Lloyd Carney.
Participants in the Solicitation
The Company and its directors and executive officers and other persons may be deemed to be participants in the solicitation of proxies from the Company’s stockholders in respect of the Extension. Information regarding the Company’s directors and executive officers is available in its annual report on Form 10-K filed with the SEC. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests are contained in the Proxy Statement (defined below).
No Offer or Solicitation
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Additional Information
The Company has filed with the Securities and Exchange Commission (the “SEC”) a definitive proxy statement (the “Proxy Statement”) in connection with a special meeting in lieu of an annual meeting of the stockholders (the “Meeting”) to consider and vote upon the Extension and other matters and, beginning on November 23, 2022, mailed the Proxy Statement and other relevant documents to its stockholders as of the November 10, 2022 record date for the Meeting. The Company’s stockholders and other interested persons are advised to read the Proxy Statement and any other relevant documents that have been or will be filed with the SEC in connection with the Company’s solicitation of proxies for the Meeting because these documents will contain important information about the Company, the Extension and related matters. Stockholders may also obtain a free copy of the Proxy Statement, as well as other relevant documents that have been or will be filed with the SEC, without charge, at the SEC’s website located at www.sec.gov or by directing a request to MacKenzie Partners, Inc. at 1-800-322-2885 (toll free) or by email at proxy@mackenziepartners.com.
Forward-Looking Statements
This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact:
Lloyd Carney
David Roberson
Carney Technology Acquisition Corp. II
(619) 736-6855
- Carney Technology Acquisition Corp. II Announces Postponement of its Special Meeting of Stockholders to December 14, 2022 and That Trust Account Will Bear Interest and Will Not Be Decreased Due to Excise Tax
Dec 12, 2022
Palo Alto, California, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Carney Technology Acquisition Corp. II (“the Company”) (NASDAQ: CTAQ) today announced that its special meeting in lieu of an annual meeting of the stockholders (the “Meeting”) will be postponed from December 13, 2022 to 9:00 a.m. Eastern Time on December 14, 2022. The record date for the Meeting to vote on the Extension Amendment remains the close of business on November 10, 2022 (the “Record Date”). Stockholders who have previously submitted their proxies or otherwise voted and who do not want to change their vote need not take any action. Stockholders as of the Record Date can vote, even if they have subsequently sold their shares. In connection with the postponement of the Meeting, the Company has further extended the deadline for holders of the Company’s Class A common stock issued in the Company’s initial public offering to submit their shares for redemption in connection with the Extension Amendment to 5:00 p.m. Eastern Time on December 12, 2022. Stockholders who wish to withdraw their previously submitted redemption request may do so prior to the rescheduled meeting by requesting that the transfer agent return such shares by 8:00 a.m. Eastern Time on December 14, 2022.
Additionally, to mitigate the current uncertainty surrounding the implementation of the Inflation Reduction Act of 2022, in the event that the extension (the “Extension”) of the time period the Company has to complete an initial business combination (the “Business Combination”) is implemented as described in the Proxy Statement (defined below), Carney Technology Sponsor II LLC (the “Sponsor”), the sponsor of the Company, or a designee, will indemnify the Company against any excise tax liabilities with respect to any future redemptions that occur after December 31, 2022 and prior to or in connection with a Business Combination or liquidation of the Company. Additionally, if the Extension is implemented, the Company plans to maintain the remaining amount in its trust account (the “Trust Account”) in an interest bearing demand deposit account at a bank. Interest on such deposit account is variable and currently expected to be approximately 3.0% per annum. If the Extension is implemented, the Sponsor has agreed to deposit into the Trust Account $0.04 for each public share that is not redeemed for each month that is needed by the Company to complete the Business Combination until June 14, 2023.
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About Carney Technology Acquisition Corp. II
Carney Technology Acquisition Corp. II is a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. The Company intends to focus on a target business in the technology industry. The Company is led by Chief Executive Officer David Roberson, President Gale England and Chief Acquisition Officer Lloyd Carney.
Participants in the Solicitation
The Company and its directors and executive officers and other persons may be deemed to be participants in the solicitation of proxies from the Company’s stockholders in respect of the Extension. Information regarding the Company’s directors and executive officers is available in its annual report on Form 10-K filed with the SEC. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests are contained in the Proxy Statement (defined below).
No Offer or Solicitation
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Additional Information
The Company has filed with the Securities and Exchange Commission (the “SEC”) a definitive proxy statement (the “Proxy Statement”) in connection with a special meeting in lieu of an annual meeting of the stockholders (the “Meeting”) to consider and vote upon the Extension and other matters and, beginning on November 23, 2022, mailed the Proxy Statement and other relevant documents to its stockholders as of the November 10, 2022 record date for the Meeting. The Company’s stockholders and other interested persons are advised to read the Proxy Statement and any other relevant documents that have been or will be filed with the SEC in connection with the Company’s solicitation of proxies for the Meeting because these documents will contain important information about the Company, the Extension and related matters. Stockholders may also obtain a free copy of the Proxy Statement, as well as other relevant documents that have been or will be filed with the SEC, without charge, at the SEC’s website located at www.sec.gov or by directing a request to MacKenzie Partners, Inc. at 1-800-322-2885 (toll free) or by email at proxy@mackenziepartners.com.
Forward-Looking Statements
This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact:
Lloyd Carney
David Roberson
Carney Technology Acquisition Corp. II
(619) 736-6855
- What Type Of Shareholders Own The Most Number of Carney Technology Acquisition Corp. II (NASDAQ:CTAQ) Shares?
Jul 23, 2022
A look at the shareholders of Carney Technology Acquisition Corp. II (NASDAQ:CTAQ) can tell us which group is most powerful. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. Companies that used to be publicly owned tend to have lower insider ownership.
Carney Technology Acquisition II is a smaller company with a market capitalization of US$506m, so it may still be flying under the radar of many institutional investors. Taking a look at our data on the ownership groups (below), it seems that institutions are noticeable on the share registry. We can zoom in on the different ownership groups, to learn more about Carney Technology Acquisition II.
See our latest analysis for Carney Technology Acquisition II ownership-breakdown
What Does The Institutional Ownership Tell Us About Carney Technology Acquisition II?
Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.
Carney Technology Acquisition II already has institutions on the share registry. Indeed, they own a respectable stake in the company. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Carney Technology Acquisition II's earnings history below. Of course, the future is what really matters. earnings-and-revenue-growth
Since institutional investors own more than half the issued stock, the board will likely have to pay attention to their preferences. Carney Technology Acquisition II is not owned by hedge funds. Looking at our data, we can see that the largest shareholder is Carney Technology Sponsor II LLC with 20% of shares outstanding. For context, the second largest shareholder holds about 4.3% of the shares outstanding, followed by an ownership of 3.9% by the third-largest shareholder.
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After doing some more digging, we found that the top 12 have the combined ownership of 50% in the company, suggesting that no single shareholder has significant control over the company.
While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. Our information suggests that there isn't any analyst coverage of the stock, so it is probably little known.
Insider Ownership Of Carney Technology Acquisition II
The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.
I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.
We note our data does not show any board members holding shares, personally. Not all jurisdictions have the same rules around disclosing insider ownership, and it is possible we have missed something, here. So you can click here learn more about the CEO.
General Public Ownership
With a 11% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Carney Technology Acquisition II. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.
Private Company Ownership
We can see that Private Companies own 20%, of the shares on issue. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.
Next Steps:
It's always worth thinking about the different groups who own shares in a company. But to understand Carney Technology Acquisition II better, we need to consider many other factors. Case in point: We've spotted 4 warning signs for Carney Technology Acquisition II you should be aware of, and 3 of them are significant.
Of course this may not be the best stock to buy. Therefore, you may wish to see our free collection of interesting prospects boasting favorable financials.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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- What Kind Of Investors Own Most Of Carney Technology Acquisition Corp. II (NASDAQ:CTAQ)?
Feb 13, 2022
A look at the shareholders of Carney Technology Acquisition Corp. II (NASDAQ:CTAQ) can tell us which group is most powerful. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. We also tend to see lower insider ownership in companies that were previously publicly owned.
Carney Technology Acquisition II is a smaller company with a market capitalization of US$501m, so it may still be flying under the radar of many institutional investors. Our analysis of the ownership of the company, below, shows that institutions are noticeable on the share registry. Let's delve deeper into each type of owner, to discover more about Carney Technology Acquisition II.
See our latest analysis for Carney Technology Acquisition II ownership-breakdown
What Does The Institutional Ownership Tell Us About Carney Technology Acquisition II?
Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.
Carney Technology Acquisition II already has institutions on the share registry. Indeed, they own a respectable stake in the company. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Carney Technology Acquisition II, (below). Of course, keep in mind that there are other factors to consider, too. earnings-and-revenue-growth
Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. We note that hedge funds don't have a meaningful investment in Carney Technology Acquisition II. Carney Technology Sponsor II LLC is currently the largest shareholder, with 20% of shares outstanding. In comparison, the second and third largest shareholders hold about 4.3% and 3.5% of the stock.
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A closer look at our ownership figures suggests that the top 13 shareholders have a combined ownership of 50% implying that no single shareholder has a majority.
While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar.
Insider Ownership Of Carney Technology Acquisition II
The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.
I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.
Our data cannot confirm that board members are holding shares personally. Given we are not picking up on insider ownership, we may have missing data. Therefore, it would be interesting to assess the CEO compensation and tenure, here.
General Public Ownership
The general public, who are usually individual investors, hold a 15% stake in Carney Technology Acquisition II. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.
Private Company Ownership
It seems that Private Companies own 20%, of the Carney Technology Acquisition II stock. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company.
Next Steps:
It's always worth thinking about the different groups who own shares in a company. But to understand Carney Technology Acquisition II better, we need to consider many other factors. For example, we've discovered 2 warning signs for Carney Technology Acquisition II (1 is potentially serious!) that you should be aware of before investing here.
Of course this may not be the best stock to buy. Therefore, you may wish to see our free collection of interesting prospects boasting favorable financials.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
- Mint Tower Capital Management B.V. Buys Global SPAC Partners Co, IHS Markit, CyrusOne Inc, ...
Feb 4, 2022
Investment company Mint Tower Capital Management B.V. (Current Portfolio) buys Global SPAC Partners Co, IHS Markit, CyrusOne Inc, McAfee Corp, East Stone Acquisition Corp, sells CHP Merger Corp, Global SPAC Partners Co, Good Works II Acquisition Corp, Medallia Inc, GigCapital4 Inc during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Mint Tower Capital Management B.V.. As of 2021Q4, Mint Tower Capital Management B.V. owns 329 stocks with a total value of $457 million. These are the details of the buys and sells.
New Purchases: GLSPT, CONE, MCFE, MIME, KL, FPAC, FPAC, TGP, VG, BMAQU, NVACU, ROG, CERN, ZWRK, SVFA, GEEXU, BCSAU, MNR, CIFR, NPTN, TWTR, BPMP, GSQD, MON, CPLG, CCTSU, UTAAU, PAE, VGII, MTRYU, GIIX, ENTFU, ATSPT, NCACU, MBSC.U, GFGDU, TMX, HCNE, HCII, LULU, LBTYA, ROCAU, EPAY, SCVX, NWSA, VMGAU, PINS, ARNA, PSTH, MSFT, MCAGU, GDX, RRD, TACO, LIONU, ITHX, TLGYU, STFC, OLITU, NPABU, IOACU, ICNC.U, ENERU, FLOW, TINV, APCA.U, OHAAU, NFNT.U, SNII, GCP, PCAR, DISCA, JWSM, ZINGU, OCDX, MCAAU, FTSI, JUN.U, LGTOU, CMTL, POW, JNJ, MNTV, VRS, TSC, CCMP, FATH, KHC, NFLX, DMAQ, REGN, BNIX, CHTR, Added Positions: INFO, ESSC, KRA, CTAQ, ATC, ANAT, MGP, NUAN, LSXMA, XENT, ZG, WBT, VNE, BBL, GTS, GSKY, BEPC, TROX, VZ, CTXS, GNOG, Reduced Positions: GWII, ATH, LBRDA, FRTA, SPWH, ADEX, HEI, XLNX, WINVU, COHR, LILA, CENTA, PNM, CCAC, THCA, BTAQ, FWONA, SAFM, SCPL, HIGA, AJRD, GMII, CUK, WQGA.U, MX, MDH.U, TGNA, GOOG, Sold Out: CHPM, GLSPU, MDLA, GIG, CLDR, MGLN, KSU, PPD, RAVN, ZWRKU, QADA, UFS, MMM, CSOD, CIT, CAI, STMP, AMZN, SNII.U, MONCU, DDMX, DDMX, GGPIU, BNIXU, GIIXU, LOKB, HCIIU, ATSPU, ECHO, VGII.U, KURI, SCR, HRC, SCVX.U, UNP, DSPG, CVA, INOV, SIC, SOLY, T, KDMN, BRK.B, DLTR, SHPW, AMD, ATMR.U, ITHXU, NGAB.U, TINV.U, COIN, FB, ABBV, MNST, TRIL, XLRN, JWSM.U, KO, VEI, TPGS, PFDRU, POWRU, DIS, VMACU, ITMR, PFE, IIAC, SHW, BMY, ZM, GPX, DISCK, NWS, DCRNU, ZNTE, GSMG, ARTAU, ENBL, DNA, GOOGL, NEM, IMPX, KXIN,
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For the details of Mint Tower Capital Management B.V.'s stock buys and sells,
go to https://www.gurufocus.com/guru/mint+tower+capital+management+b.v./current-portfolio/portfolio
These are the top 5 holdings of Mint Tower Capital Management B.V.
Chewy Inc (CHWY) - 275,000 shares, 3.55% of the total portfolio. Good Works II Acquisition Corp (GWII) - 1,500,000 shares, 3.22% of the total portfolio. Shares reduced by 33.33% T-Mobile US Inc (TMUS) - 105,000 shares, 2.67% of the total portfolio. IHS Markit Ltd (INFO) - 89,786 shares, 2.61% of the total portfolio. Shares added by 46.06% Global SPAC Partners Co (GLSPT) - 1,000,000 shares, 2.19% of the total portfolio. New Position
New Purchase: Global SPAC Partners Co (GLSPT)
Mint Tower Capital Management B.V. initiated holding in Global SPAC Partners Co. The purchase prices were between $9.97 and $10.01, with an estimated average price of $9.99. The stock is now traded at around $10.033500. The impact to a portfolio due to this purchase was 2.19%. The holding were 1,000,000 shares as of 2021-12-31.
New Purchase: CyrusOne Inc (CONE)
Mint Tower Capital Management B.V. initiated holding in CyrusOne Inc. The purchase prices were between $75.25 and $90.23, with an estimated average price of $85.12. The stock is now traded at around $89.560000. The impact to a portfolio due to this purchase was 0.79%. The holding were 40,218 shares as of 2021-12-31.
New Purchase: McAfee Corp (MCFE)
Mint Tower Capital Management B.V. initiated holding in McAfee Corp. The purchase prices were between $20.6 and $25.85, with an estimated average price of $24.18. The stock is now traded at around $25.790000. The impact to a portfolio due to this purchase was 0.78%. The holding were 138,929 shares as of 2021-12-31.
New Purchase: Mimecast Ltd (MIME)
Mint Tower Capital Management B.V. initiated holding in Mimecast Ltd. The purchase prices were between $62.2 and $84.53, with an estimated average price of $75.66. The stock is now traded at around $79.340000. The impact to a portfolio due to this purchase was 0.54%. The holding were 31,243 shares as of 2021-12-31.
New Purchase: Kirkland Lake Gold Ltd (KL)
Mint Tower Capital Management B.V. initiated holding in Kirkland Lake Gold Ltd. The purchase prices were between $37.85 and $46.35, with an estimated average price of $42.15. The stock is now traded at around $38.170000. The impact to a portfolio due to this purchase was 0.52%. The holding were 56,868 shares as of 2021-12-31.
New Purchase: Far Peak Acquisition Corp (FPAC)
Mint Tower Capital Management B.V. initiated holding in Far Peak Acquisition Corp. The purchase prices were between $9.97 and $10.96, with an estimated average price of $10.31. The stock is now traded at around $9.940000. The impact to a portfolio due to this purchase was 0.5%. The holding were 225,152 shares as of 2021-12-31.
Added: IHS Markit Ltd (INFO)
Mint Tower Capital Management B.V. added to a holding in IHS Markit Ltd by 46.06%. The purchase prices were between $114.5 and $134.57, with an estimated average price of $127.61. The stock is now traded at around $116.290000. The impact to a portfolio due to this purchase was 0.82%. The holding were 89,786 shares as of 2021-12-31.
Added: East Stone Acquisition Corp (ESSC)
Mint Tower Capital Management B.V. added to a holding in East Stone Acquisition Corp by 74.12%. The purchase prices were between $10.14 and $18.4, with an estimated average price of $10.88. The stock is now traded at around $10.700000. The impact to a portfolio due to this purchase was 0.67%. The holding were 609,414 shares as of 2021-12-31.
Added: Kraton Corp (KRA)
Mint Tower Capital Management B.V. added to a holding in Kraton Corp by 445.92%. The purchase prices were between $45.45 and $46.38, with an estimated average price of $45.89. The stock is now traded at around $46.350000. The impact to a portfolio due to this purchase was 0.45%. The holding were 54,592 shares as of 2021-12-31.
Added: Carney Technology Acquisition Corp II (CTAQ)
Mint Tower Capital Management B.V. added to a holding in Carney Technology Acquisition Corp II by 85.23%. The purchase prices were between $9.76 and $9.83, with an estimated average price of $9.79. The stock is now traded at around $9.800000. The impact to a portfolio due to this purchase was 0.24%. The holding were 242,231 shares as of 2021-12-31.
Added: Atotech Ltd (ATC)
Mint Tower Capital Management B.V. added to a holding in Atotech Ltd by 92.48%. The purchase prices were between $23.69 and $25.57, with an estimated average price of $24.53. The stock is now traded at around $24.240000. The impact to a portfolio due to this purchase was 0.24%. The holding were 89,714 shares as of 2021-12-31.
Added: American National Group Inc (ANAT)
Mint Tower Capital Management B.V. added to a holding in American National Group Inc by 1472.50%. The purchase prices were between $187.73 and $190.96, with an estimated average price of $189.24. The stock is now traded at around $189.480000. The impact to a portfolio due to this purchase was 0.24%. The holding were 6,290 shares as of 2021-12-31.
Sold Out: CHP Merger Corp (CHPM)
Mint Tower Capital Management B.V. sold out a holding in CHP Merger Corp. The sale prices were between $9.92 and $10.12, with an estimated average price of $10.05.
Sold Out: Global SPAC Partners Co (GLSPU)
Mint Tower Capital Management B.V. sold out a holding in Global SPAC Partners Co. The sale prices were between $10.13 and $10.6, with an estimated average price of $10.23.
Sold Out: GigCapital4 Inc (GIG)
Mint Tower Capital Management B.V. sold out a holding in GigCapital4 Inc. The sale prices were between $9.68 and $10.03, with an estimated average price of $9.93.
Sold Out: Medallia Inc (MDLA)
Mint Tower Capital Management B.V. sold out a holding in Medallia Inc. The sale prices were between $33.9 and $33.99, with an estimated average price of $33.95.
Sold Out: Cloudera Inc (CLDR)
Mint Tower Capital Management B.V. sold out a holding in Cloudera Inc. The sale prices were between $15.98 and $15.99, with an estimated average price of $15.99.
Sold Out: (KSU)
Mint Tower Capital Management B.V. sold out a holding in . The sale prices were between $276.49 and $311.4, with an estimated average price of $299.1.
Here is the complete portfolio of Mint Tower Capital Management B.V.. Also check out:
1. Mint Tower Capital Management B.V.'s Undervalued Stocks
2. Mint Tower Capital Management B.V.'s Top Growth Companies, and
3. Mint Tower Capital Management B.V.'s High Yield stocks
4. Stocks that Mint Tower Capital Management B.V. keeps buyingThis article first appeared on GuruFocus.
- Nauticus Robots Will Go Public Via $560M SPAC Merger
Dec 17, 2021
Nauticus Robots, a developer of cloud-based IO software for ocean robots and services, announced that it is going public through a reverse merger with special purpose acquisition company CleanTech Acquisition Corp. "The ocean will be the epicenter in our fight against climate change and the offshore ocean services industry has signaled the beginning of a major technology revolution to combat it," Nauticus Founder and CEO Nicolaus Radford said. The company is working on making robots to replace large ships with robots in industries like energy and fishing, which it says will save their clients money and lower emissions.
- Nauticus, Ocean-Robots Firm, to Go Public Via $560M SPAC Deal
Dec 17, 2021
Nauticus makes AI software for ocean-tasked robots. It's going public via a special purpose acquisition company, CleanTech Acquisition.
- What Kind Of Investors Own Most Of Carney Technology Acquisition Corp. II (NASDAQ:CTAQ)?
Aug 17, 2021
The big shareholder groups in Carney Technology Acquisition Corp. II (NASDAQ:CTAQ) have power over the company. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. We also tend to see lower insider ownership in companies that were previously publicly owned.
Carney Technology Acquisition II is not a large company by global standards. It has a market capitalization of US$496m, which means it wouldn't have the attention of many institutional investors. Taking a look at our data on the ownership groups (below), it seems that institutions own shares in the company. We can zoom in on the different ownership groups, to learn more about Carney Technology Acquisition II.
View our latest analysis for Carney Technology Acquisition II ownership-breakdown
What Does The Institutional Ownership Tell Us About Carney Technology Acquisition II?
Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.
Carney Technology Acquisition II already has institutions on the share registry. Indeed, they own a respectable stake in the company. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Carney Technology Acquisition II, (below). Of course, keep in mind that there are other factors to consider, too. earnings-and-revenue-growth
Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. We note that hedge funds don't have a meaningful investment in Carney Technology Acquisition II. Our data shows that Carney Technology Sponsor II LLC is the largest shareholder with 20% of shares outstanding. For context, the second largest shareholder holds about 4.3% of the shares outstanding, followed by an ownership of 2.9% by the third-largest shareholder.
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After doing some more digging, we found that the top 15 have the combined ownership of 50% in the company, suggesting that no single shareholder has significant control over the company.
While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. As far I can tell there isn't analyst coverage of the company, so it is probably flying under the radar.
Insider Ownership Of Carney Technology Acquisition II
The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.
I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.
Our data cannot confirm that board members are holding shares personally. Not all jurisdictions have the same rules around disclosing insider ownership, and it is possible we have missed something, here. So you can click here learn more about the CEO.
General Public Ownership
The general public holds a 24% stake in Carney Technology Acquisition II. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.
Private Company Ownership
Our data indicates that Private Companies hold 20%, of the company's shares. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.
Next Steps:
It's always worth thinking about the different groups who own shares in a company. But to understand Carney Technology Acquisition II better, we need to consider many other factors. To that end, you should be aware of the 2 warning signs we've spotted with Carney Technology Acquisition II .
Of course this may not be the best stock to buy. Therefore, you may wish to see our free collection of interesting prospects boasting favorable financials.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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