Which makes absolutely no sense...you really need to post the source link or it would be an unsubstantiated information.
At the moment SAS has a market cap of 90-100 million dollars so 40 million dollar stake is NOT 15% and instead closer to over 40%. If a “strategic investor” wants to pay 40 million dollars then that would mean ~40% of current market cap. SAS would have to issue new stocks that would dilute the SP to oblivion that to my believe would be impossible to recover from or someone would have to sell massive amount of stocks equal to 40 million, which represents ~40% market cap. That someone would no doubt be management but either way the SP would take a gargantuan dive. The thing is though, even after such potential exercise the cash balance of the company would not change and nothing would be solved. Meir and company, who would have just sold almost their entire stake at the company would have to PERSONALLY draw the proceed from the selling of the shares that they PERSONALLY owned from their personal bank account and inject them PERSONALLY into the company.
To me that just makes no sense. You really need to post the link @nogur1223.
If Meir and Co. sell their shares then to me that would mark the end for SAS. Also if it is true that SAS directors advised that the SP is prohibitive to more equity raising then that means SAS is guaranteed to have no funds.
If I am an investor then I would be shaking in my boots right now. Please the link....
