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Software Acquisition Group Inc. III Warrant (SWAGW)
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Upturn Advisory Summary
10/30/2025: SWAGW (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type Stock | Historic Profit 0% | Avg. Invested days 0 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  1.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 10/30/2025 |
Key Highlights
Company Size ETF | Market Capitalization 0 USD | Price to earnings Ratio - | 1Y Target Price - |
Price to earnings Ratio - | 1Y Target Price - | ||
Volume (30-day avg) - | Beta 2.04 | 52 Weeks Range 0.01 - 0.02 | Updated Date 05/27/2025 |
52 Weeks Range 0.01 - 0.02 | Updated Date 05/27/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) - |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -4.37% | Operating Margin (TTM) -1.87% |
Management Effectiveness
Return on Assets (TTM) -5.95% | Return on Equity (TTM) -12.17% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value - | Price to Sales(TTM) - |
Enterprise Value - | Price to Sales(TTM) - | ||
Enterprise Value to Revenue - | Enterprise Value to EBITDA - | Shares Outstanding - | Shares Floating 9812772 |
Shares Outstanding - | Shares Floating 9812772 | ||
Percent Insiders - | Percent Institutions - |
Upturn AI SWOT
Software Acquisition Group Inc. III Warrant
Company Overview
History and Background
Software Acquisition Group Inc. III was a special purpose acquisition company (SPAC) formed in 2020 to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The warrants (SWAGW) were part of the unit offering during the IPO. The company ultimately de-SPACed with Nogin, a commerce-as-a-service platform. SWAGW represents the right to purchase shares of Nogin at a specified price.
Core Business Areas
- SPAC Formation: Software Acquisition Group Inc. III's core business was to identify and acquire a target company, facilitating its entry into the public markets. The warrants traded represent the right to buy the de-SPACed company, Nogin, stock at a specified price.
Leadership and Structure
Software Acquisition Group Inc. III was led by CEO Michael P. Yun and had a board of directors focused on technology and investment. Nogin's leadership team became the leadership after the de-SPAC.
Top Products and Market Share
Key Offerings
- Warrant (SWAGW): Represents the right to purchase shares of Nogin common stock at an exercise price. Market share is not applicable to warrants, as they are derivative securities. The underlying equity (Nogin) competes in the e-commerce platform market, with competitors like Shopify, BigCommerce, and Salesforce Commerce Cloud. Nogin had a relatively small market share compared to these established players at time of De-SPAC.
Market Dynamics
Industry Overview
The SPAC market experienced a boom in 2020 and 2021 but cooled considerably afterward. The e-commerce platform market is competitive and growing, driven by the increasing shift to online shopping.
Positioning
Software Acquisition Group Inc. III aimed to find a target in the software sector. Nogin's e-commerce platform targets mid-market brands seeking enterprise-level capabilities.
Total Addressable Market (TAM)
The total addressable market for e-commerce platforms is substantial, estimated in the tens of billions of dollars globally. Nogin's position within this TAM was focused on a specific segment (mid-market brands), seeking to gain share by offering differentiated features and services.
Upturn SWOT Analysis
Strengths
- Experienced management team (initially in Software Acquisition Group III)
- Access to capital through public markets
- Targeted focus on software/technology sector
Weaknesses
- Dependence on identifying and completing a successful acquisition
- Dilution to existing shareholders through warrant exercise (SWAGW)
- Uncertainty surrounding the performance of the acquired company (Nogin)
Opportunities
- Growing demand for e-commerce platforms
- Consolidation in the e-commerce platform market
- Potential for partnerships with other technology companies
Threats
- Increased competition in the e-commerce platform market
- Changes in e-commerce trends
- Economic downturn impacting consumer spending
Competitors and Market Share
Key Competitors
- SHOP
- BIGC
- CRM
Competitive Landscape
Nogin faces significant competition from established e-commerce platform providers with greater resources and brand recognition. Its competitive advantage lies in its specific focus on mid-market brands and potentially offering a more tailored solution. Nogin's competitive landscape is the same as Shopify, BigCommerce, and Salesforce Commerce Cloud (CRM).
Growth Trajectory and Initiatives
Historical Growth: Software Acquisition Group Inc. III's growth was limited to the SPAC phase. Post-de-SPAC, growth is determined by Nogin's performance.
Future Projections: Nogin's future growth depends on its ability to acquire new customers, expand its platform capabilities, and compete effectively in the e-commerce platform market. Analyst estimates not readily available.
Recent Initiatives: Initiatives would involve Nogin's strategic partnerships, product development, and marketing efforts.
Summary
Software Acquisition Group Inc. III was a SPAC whose warrants (SWAGW) represent the right to purchase stock in Nogin, the de-SPACed company. The value of the warrants is highly dependent on Nogin's performance in the competitive e-commerce platform market. Nogin, competing with larger players, faces challenges in gaining market share. Investors should closely monitor Nogin's financial performance and strategic initiatives to assess the potential of the warrants. Overall, the warrant's success hinges entirely on Nogin's execution and market acceptance.
Similar Stocks
Sources and Disclaimers
Data Sources:
- SEC Filings
- Company Press Releases
- Market Data Providers
- Analyst Reports (when available)
Disclaimers:
This analysis is based on available public information and is for informational purposes only. It does not constitute financial advice. The information is believed to be accurate, but no guarantees are made. Market share data is approximate and based on industry estimates.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Software Acquisition Group Inc. III Warrant
Exchange NASDAQ | Headquaters Quincy, MA, United States | ||
IPO Launch date 2021-09-21 | Co-Founder, President, CEO & Director Mr. Andrew Shape | ||
Sector Communication Services | Industry Advertising Agencies | Full time employees 153 | Website https://www.stran.com |
Full time employees 153 | Website https://www.stran.com | ||
Stran & Company, Inc. provides outsourced marketing solutions in the United States, Canada, and Europe. The company operates through Stran & Company, Inc. (Stran) and Stran Loyalty Solutions, LLC (SLS) segments. The company offers clients custom sourcing services; and e-commerce solutions for promoting branded merchandise and other promotional products, managing promotional loyalty and incentives, print collateral and event assets, order and inventory management, designing and hosting online retail popup shops, fixed public retail online stores, and online business-to-business service offerings. It also provides creative and merchandising services; warehousing/fulfillment and distribution; print-on-demand services; kitting services; point of sale displays; and loyalty and incentive programs. In addition, the company offers e-store, logistical support, and other promotional services. It serves pharmaceutical and healthcare, manufacturing, gaming, technology, finance, construction, and consumer goods industries through factories, decorators, printers, logistics firms, and warehouses. The company was founded in 1994 and is headquartered in Quincy, Massachusetts.
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