Queen's Gambit Growth Capital
GMBT · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from Queen’s Gambit Holdings LLC, listed on Nasdaq in January 2021.
- What it's doing now
- It agreed to buy Swvl Inc., a mass transit and shared mobility services company. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- Swvl Inc.
- Industry
- Industrials — mass transit and shared mobility services
- Deal value
- not stated in the filings we hold
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 21 January 2021
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 520 WEST 19TH STREET, NEW YORK, NY, 10011
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- PUTMAN JILL (Director) · Grace Victoria K. (Chief Executive Officer) · Nyrkovskaya Anastasia (Chief Financial Officer)
- Listed securities
- GMBT common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
1 dated milestoneEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 21 January 2021IPOpassed
IPO size not on file
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- closedIndustrialsSEC primary
What Swvl Inc. does — read from swvl.com on 26 August 2026
Swvl provides intelligent mobility and transit solutions for businesses, offering a product suite including a Customer App, Partner Portal, Captain App, and Admin Dashboard to manage corporate, school, factory, call center, and government commutes.
CorporateSchoolFactoryCall CenterGovernmentOffice CommuteDeal structureSEC-primary — BCA 8-K / S-4 / DEFM14A- Min-cash condition
- $282M
stated in:0001193125-22-075550
The score
deterministic, from filed fieldsGMBT is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Queen's Gambit Growth Capital is a blank-check company whose common stock traded on the Nasdaq Stock Market under the ticker GMBT. The company priced its IPO on January 21, 2021, as evidenced by a 424B prospectus filed with the SEC under accession number 0001564590-21-001802. The ticker GMBT appears on the cover page of an 8-K filing dated March 30, 2022 (accession 0001193125-22-089069). The company completed a business combination and no longer files, with its closed status established by Form 25 filed on March 31, 2022 (accession 0001354457-22-000213) under 17 CFR 240.12d2-2(a)(3), indicating that its Class A Ordinary Shares, Warrants, and Units came to evidence other securities in substitution therefor.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
Neither the SPAC nor the target ends up as the listed company. Pivotal Holdings Corp does, and both the SPAC Surviving Company and Swvl become its subsidiaries — a double-dummy structure in which the registrant on the prospectus is an entity that had no public securities before the deal. SPAC holders are made whole one-for-one: each Class A ordinary share becomes one Holdings Common Share A, each Class B becomes one Holdings Common Share B, each warrant is assumed on the same terms, and each unit of one Class A share and one-third of a warrant becomes an identically composed Holdings unit.
Twenty-two days of pre-offering existence tells an investor nothing about the shell they own. The IPO closed January 22, 2021 for 34,500,000 units including the full over-allotment, which also removed the forfeiture condition on 1,125,000 founder shares, leaving 34,500,000 Class A and 8,625,000 Class B outstanding at March 26, 2021 against zero Class A on the balance sheet. Sponsor loans of about $91,000 in total funded the shell before listing. The first real trust balance comes in the next quarterly report.
Warrant coverage was cut by a third at pricing while the deal grew by a third, so both the share count and the warrant overhang differ from the registration statement. The two named anchors survive to pricing and remain non-binding: affiliates of Agility Public Warehousing Company K.S.C.P. and of Luxor Capital Group, LP each indicated an intention to buy up to 9.9% of the units, and the prospectus states indications of interest are not binding agreements.
Two named anchors are disclosed, and disclosed as non-binding: affiliates of Agility Public Warehousing Company K.S.C.P. and of Luxor Capital Group, LP have each indicated an intention to buy up to 9.9% of the units in this offering, but the prospectus states that indications of interest are not binding agreements. If no business combination is completed within 24 months from the closing of the offering, the private placement warrant proceeds held in trust fund the redemption of the public shares and the private placement warrants expire without value..
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
- What changed vs 2021-03-29trust $345.0M → $345.1M +0%going concern APPEARED
trust account, going-concern doubt, combination deadline +22 moved · 3 with no prior record of ours
- Trust account
- $345.0M$345.1M
- Going-concern doubt
- not statedstated
- Combination deadline
- not previously extracted2023-01-23
- Redeemable shares
- not previously extracted34.5M
- Mandate language
- We intend to focus our search on a target business that prov… · unchanged
SpacBrain reads this as $92,122 was added to the trust between the two filings.
The clause “Total current assets 1,220,829 - Deferred offering costs - 280,543 Investments held in Trust Account 345,092,122 - Total Assets $ 346,312,951 $ 280,543 Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders'”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“value for our shareholders. • Our proximity to our liquidation date expresses substantial doubt about our ability to continue as a “going concern.” • We may not be able to complete our initial business combination within the 24 months”…
The clause “Concern” management has determined that if the Company is unable to complete a Business Combination by January 23, 2023, then the Company will cease all operations except for the purpose of liquidating. The date for mandatory liquidation”…
The clause …“of uncertain future events. Accordingly, as of the Initial Public Offering, 34,500,000 Class A ordinary shares subject to possible redemption are presented as temporary equity, outside of the shareholders’ equity section of our”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Show the other 10 filings
What changed: Definitive proxy statement of Queen's Gambit Growth Capital and prospectus of Pivotal Holdings Corp, dated March 15, 2022, for the combination with Swvl Inc., a British Virgin Islands company, under a Business Combination Agreement dated July 28, 2021. Four steps run in order: the SPAC merges into a Cayman Merger Sub; Holdings redeems its own outstanding Class A and Class B shares for par value; the SPAC Surviving Company distributes the BVI Merger Sub shares to Holdings; and BVI Merger Sub merges into Swvl, which survives as a wholly owned subsidiary of Holdings. Why it matters: Neither the SPAC nor the target ends up as the listed company. Pivotal Holdings Corp does, and both the SPAC Surviving Company and Swvl become its subsidiaries — a double-dummy structure in which the registrant on the prospectus is an entity that had no public securities before the deal. SPAC holders are made whole one-for-one: each Class A ordinary share becomes one Holdings Common Share A, each Class B becomes one Holdings Common Share B, each warrant is assumed on the same terms, and each unit of one Class A share and one-third of a warrant becomes an identically composed Holdings unit.
pipe, outside datenothing moved · 2 with no prior record of ours
- PIPE
- no earlier filing$185.0M
- Outside date
- no earlier filing2022-05-31
The clause …“SPAC and Holdings collectively having cash on hand equal to or in excess of $185 million after consummation of the PIPE Financing after the distribution of the funds in the Trust Account (and deducting all amounts to be paid pursuant”…
SpacBrain reads this as the agreement may be terminated from 2022-05-31.
The clause …“2, 2022, Swvl and SPAC agreed that the Second BCA Amendment would extend the Outside Date to May 31, 2022. On March 3, 2022, Swvl, SPAC, Holdings, Cayman Merger Sub and BVI Merger Sub executed the Second BCA Amendment. Both Swvl and”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- not previously extracted2022-05-31
SpacBrain reads this as the agreement may be terminated from 2022-05-31.
The clause …“subject to the terms and conditions therein, the parties thereto extended the Outside Date (as defined in the Business Combination Agreement) to May 31, 2022. The foregoing description of the Second Amendment is qualified in its”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- 2022-05-31 · unchanged
The clause …“subject to the terms and conditions therein, the parties thereto extended the Outside Date (as defined in the Business Combination Agreement) to May 31, 2022. The foregoing description of the Second Amendment is qualified in its”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Queen’s Gambit Holdings LLCnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1284 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
Unit: U = S + W/3 · 100.0% of the $10 unit
from 424B4 0001564590-21-001802
Trading & liquidity
Company profile
Directors & officers
- PUTMAN JILLDirector
- Grace Victoria K.Chief Executive Officer
- Nyrkovskaya AnastasiaChief Financial Officer
- Martin CherylDirector
- Schroder Lone FonssDirector
- BARBETTA JENNIFERDirector
- Weymouth Elizabeth KDirector
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
7 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- Queen's Gambit Holdings LLCwith 1 other reporting person on the same schedule20.0% · SC 13GFeb 10, 2022 stale
- Beryl Capital Management LLCwith 2 other reporting persons on the same schedule10.0% · SC 13GMar 31, 2022 stale
- ARISTEIA CAPITAL LLC7.4% · SC 13GFeb 14, 2022 stale
- Weiss Asset Management LPwith 2 other reporting persons on the same schedule5.8% · SC 13GFeb 11, 2022 stale
- MILLENNIUM MANAGEMENT LLCwith 1 other reporting person on the same schedule5.3% · SC 13GJan 20, 2022 stale
- ADAGE CAPITAL PARTNERS GP, L.L.C.with 2 other reporting persons on the same schedule3.5% · SC 13G/AFeb 10, 2022 stale
- Luxor Capital Group, LPwith 12 other reporting persons on the same schedule2.6% · SC 13G/AFeb 14, 2022 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
News
company wires and the financial pressReporting we have matched to this ticker. Headlines belong to the outlets that wrote them.
Show the headlines
- Swvl, a green-focused mass transit company, is going ...
CNBCundated by the source
- VNV Global's portfolio company Swvl to become publicly ...
Nasdaqundated by the source
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
35 full SEC filing texts archived — searchable, never lost.
- Vault note — GMBT (Queen's Gambit Growth Capital)
vault-note · /vault/tickers/GMBT
- Vault deal note — Swvl Inc. (GMBT)
vault-note · /vault/deals/swvl-inc
- Swvl - Daily Rides App - App Store
news · apps.apple.com
- Swvl - Wikipedia
news · en.wikipedia.org
- Swvl - Intelligent Mobility
company-site · swvl.com
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail6 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001564590-21-001802 priced 2021-01-21; common ticker GMBT off 8-K 0001193125-22-089069 (2022-03-30); lifecycle EXITED. Ending PROVEN, not inferred: CLOSED per Form 25 0001354457-22-000213 (2022-03-31) — Form 25 filed under 17 CFR 240.12d2-2(a)(3) — the rule for securities that "have come to evidence other securities in substitution therefor", i.e. the shares became the successor's (class: Class A Ordinary Share, Warrants, and Units). ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
warrantStrike=11.5, unitSeparationDays=52 from the definitive prospectus (0001564590-21-001802). NOT FILLED: warrantCallPrice — no stated candidate; rightShareRatio — no stated candidate
sponsor "Queen’s Gambit Holdings LLC" sourced from prospectus definition (10-K) acc 0001564590-21-016176.
[CLOSED-2.01] SEC accession 0001193125-22-091996 (Form 8-K, item 2.01 Completion of Acquisition or Disposition of Assets); the cover's date of earliest event reported is 2022-03-30. That is the SEC's own date for this report and NOT necessarily the closing day — an 8-K may cover several events, and where the two differ the closing date is in the quoted sentence below. Target read STRUCTURALLY from the merger agreement's party list — the party that is neither the registrant (identified by the filing's own cover page) nor a merger sub (identified by the clause making it a subsidiary of another party) nor an accommodation party (identified by a "solely for purposes of" joinder), and it was the only one left. The sentence it was read from: "☐ Introductory Note On March 31, 2022, Queen's Gambit Growth Capital, a Cayman Islands exempted company with limited liability (" SPAC "), consummated its previously announced business combination pursuant to that certain business combination agreement, dated July 28, 2021 (as amended and supplemented, the " Business Combination Agreement "), by and among SPAC, Swvl Inc., a British Virgin Islands business company limited by shares incorporated under the laws of the British Virgin Islands (" Swvl "), Pivotal Holdings Corp, a British Virgin Islands business company limited by shares incorporated under the laws of the British Virgin Islands and wholly-owned subsidiary of Swvl (" Holdings "), Pivotal Merger Sub Company I, a Cayman Islands exempted company with limited liability and wholly-owned subsidiary of Holdings (" Cayman Merger Sub "), and Pivotal Merger Sub Company II Limited, a Briti" No deal value is set — an item-2.01 heading is not a figure. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists. [DEAL-STRUCTURE-MINED] minCashM=281.6 from primary filings (0001193125-22-075550).
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read
OTHER confirmed, on 8-K 0001193125-22-089069: "Swvl Inc., a British Virgin Islands business company limited by shares incorporated under the laws of the British Virgin Islands"