Optional redemption usually opens about 30 days after merger.
Your $2000 investment became worth ~$8500.
At $20 common - $11.50 strike price, your warrant is intrinsically worth $8.50 each.
Warrants are far more volatile than the shares, but are also more likely to double or triple in value than commons.
Your $2000 became $3640
The downside is if the merger falls through and the SPAC liquidates, warrant investors lose everything. $0.
Most are 1:1, followed by 2:1. There may occasionally be a 4:3,
In theory you have up to five years to exercise your warrants. In practice, most SPACs have early redemption clauses to where if the stock holds above a certain price for a certain number of days