I haven’t been reading posts today, so apologies if this has been answered. If they are exercising the put today and the price delivered will be 90 percent of vwap (subject to conditions like min volume and no material ’adverse’ news), then does that preclude material favourable news being disclosed in the next 10 trading days? I assume not.
we can obviously be pretty sure they’ve not got adverse news to announce. Might they have good news to announce in this period, which will secure a better price at which the put is traded? Is the permissible? Any one think it likely or too cynical a move given the existing LDA relationship?
Ann: Capital Call with LDA, page-156
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