Pershing Square Tontine (PSTH) De-SPAC play

Mispriced right to invest alongside Bill Ackman on similar terms as him.
Complex PSTH SPAC is set to liquidate and distribute a trust value of $20.05/share + half of SPAR.
Each full SPAR will give the right to invest in Ackman’s new venture whatever that might be.
Historically investors have attached high value for the possibility to invest alongside Ackman.
Currently, investors are paying only $0.03 for what could be worth $1/share.
Risk of SEC not allowing such vehicle to proceed or SPARs remaining unlisted.