@gg99rush,
I'm afraid your table is wrong.
If it is TERP you are trying to calculate, then on the basis of the inputs you have used, namely 31.25m shares being issued at $3.20/share, TERP is $3.427, not $3.28
(Your sign convention in relation to Net Debt is wrong, for starters)
Ann: Trading Halt, page-366
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