We arent supposed to accept this price, and the board isnt recommending we accept the offer from quick read, they arent saying much, they are paying Deloitte for a ambiguous report as well.
Keep in mind, two of the board members that are selling are quitting when this goes through, and two independent board members that are staying said they aren't selling their shares.
Its been priced to allow the desperate major shareholder to sell (Maybe rising interest rates are causing them concern), because volume is too thin and their holding too large for them to sell through the market, they dont care about our shares, but they will take them as a bonus.
I expect it will be a stronger company in 12 months, when the new CEO is settling in, and with two new experienced board members.
Im not big into retail shares, but im surprised they used such low multiples as a baseline.
BST Price at posting:
$1.87 Sentiment: Buy Disclosure: Held
