I still don't agree with the partnership approach at this stage and valuation of the company. With a market cap of circa $24mil AUD what are the chances that an acceptable deal will happen? To me it's very slim, perhaps you get a few mil from a major and they agree to fund further development costs but then you've lost all negotiating power down the track.
IMHO if I was in a position to do so I would offer existing shareholders a slight premium, say 50-100% and take the company private (thinking Bain Capital / other PE). Then get another say $20-50mil of private capital and prove out SAVR/TAVR whilst still private. Once SAVR is FDA approved the company should be able to
be cashflow positive, then you could re-IPO at a significant premium (thinking hundreds of millions).
(And yes as a retail investor I'd lose a bucket load if this happened, however perhaps a creative deal could be done where retail got to retain/pay to keep their stake. Maybe a portion of the takeover capital could be raised through Equitise or similar and retail could let Bain or similar PE manage the company till IPO and then see a return).
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Price($) | Vol. | No. |
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18.300 | 247 | 2 |
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