LOLZ at some of the enthusiasm here. I suspect many haven't actually thought this through, or previously seen an SPP done this way.
Some things to consider.
The final price is tied to a VWAP that you can't calculate until your money is in.
The final price is tied to a VWAP that can easily be manipulated. AVZ averages maybe $250k of trading a day.
The final price is tied to a VWAP that many would benefit from manipulating. Is it worth torching say 20% of that x 5 days pushing the sp up by 20% over the VWAP calc period? That would come at a cost of $250k but decrease dilution by an equivalent $2m. So, some would benefit hugely from such manipulation.
There are 10k shs in AVZ. If all apply, that's $150m. The SPP is capped at <7% of that. Not everyone will apply, but you're not going to get anywhere near your full $15k worth.
Invariably on issue day for SPPs structured like this, there is a big dump. So even if the day before, you are looking at a 20% gain, that is all but guaranteed to largely disappear on issue day.
GLTAH (and that includes me) but go into this with your eyes open, not blinkered.
FD
AVZ Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
