PELI Redemptions and upside16 Mar 2026 17:29
So redemption will be high which is huge for the upside Day 1. High redemptions are actually the primary catalyst for huge gains on IPO day onwards
The "Low Float" Squeeze: If redemptions hit 90%, the "public float" (the number of shares available to trade) could shrink hugely. Example from 100m to 10m free float which drives insane upside.
Volatility Trigger: With such a tiny supply of shares, even a small surge in retail buying—driven by the "drilling this year" hype—can cause the price to "moon" because there are no sellers to meet the demand.
Fundamental Backstop: Importantly, the drilling for the Jameson Land Basin is fully funded by March GL, meaning the project moves forward even if 100% of the SPAC cash is redeemed.
WIN WIN.
Looks like with the buying over at PELI, redemption will be 90-95%.
Great news.