Book value is $10 per share. But media companies go for several times book value. DIS 3.68x book. If you exclude intangibles, DIS book value is $13.3 billion - in the red. NFLX - 18.84x book, tangible book $13.7 billion - in the red. Other media companies same. TWTR - 5.93x book - net tangible book $5.8 billion black. Market value - $42.5 billion.
DWAC - market value $2.03 billion - tangible book N/A. Was trading at $10 per share before hoopla, but no indication how much was raised for the company in the private and public offerings.
Spacs go public at $10 per share. They often sit there. They are basically a group of prvate companies that use the SPAC money to infuse them with capital. The companies have been selling to the SPACs at a high price (above book value.) Most SPACs hover around $10 until a company either shoots up in value or goes belly up. This one shot up to 10 times its original SPAC value. Now its 5.7 times that value. So its not a deal. We will see if it ever makes money.