O/S: 35M
Trust: USD 350M 
SPAC website: fusionacq.com

Current prices (January 10, 2021):
Units: 12.78
Equity: 11.59
Warrants: 2.70

Target sector: Fintech
Target size: $750M - $3B enterprise value

Book Runner: Cantor Fitzgerald

Started trading: June 26, 2020
Business combination deadline: December 31, 2021

Jim Ross (chairman) looks like a well connected guy. SPDR/State Street ETFs

Warrants were knocking around under $1 since they went public, but took off around Thanksgiving and are now at all time high with a few days over 1M in volume.  This is typically a leading indicator that an announcement is coming soon.

Current rumor is they'll get BlockFi.  BlockFi is probably at the lower end of the target range.  That said, with Coinbase going public this year, it's going to push valuations way up for any of the well polished crypto exchanges.

They've got no problems with capital raising and have SPAC experience on the team.

Looking at the volume here, I'd say that they've identified a target or two and are walking down the aisle with one of them - probably announce Q1, early Q2 at the latest.

Short-term risk here is no announcement for a while and the equity coming back to NAV.  Warrants would come back to 1.50-2.00.  If I had any equity below $11 or warrants below $2, I'd sit tight.