Securities
Warrant coverage
How much of a warrant comes attached to each unit, a direct read on demand at pricing.
Coverage of one half means every two units carry one whole warrant. Coverage has ranged from a full warrant per unit in weak markets to none at all in the strongest.
Thinner coverage means the sponsor did not have to give much away to fill the book, which is generally a sign of a well-received offering.
Related terms
See the term in the wild: the screener shows trust size, per-share value and deadlines for every U.S. SPAC, and each profile links to the filings the numbers came from.
Definitions describe market practice and are not investment, legal or tax advice.