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Tilman sells a piece

Discussion in 'Houston Rockets: Game Action & Roster Moves' started by Plowman, Jun 29, 2020.

  1. BasketballReasons

    BasketballReasons Contributing Member

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    Basically he has "sold" the online part of his business to another one of his businesses (called LCA), which is a SPAC. A SPAC is a special purpose acquisition company - basically, a shell company that is listed on the stock market with the only intent to purchase a company and take it public.

    That's what they've done here.

    So think of it as if Tilman had just spun-off the online part of his business (super valuable) and got it listed on the stock market. This means that a lot of people will be able to invest in the company, and therefore, the valuation will likely go up and he will make more money.

    I'm dumbing this down completely, but TLDR, Tilman sold the online business to another one of his companies, will list it on the stock exchange and become filthy rich.

    You can also benefit from this by buying the stock (feel like a sleazy salesman -- maybe I am Tilman).
     
    D-rock, snowconeman22 and jch1911 like this.

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