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Ann: EUR Merger with NASDAQ Corp - Equity Consideration US$750m, page-69

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KeyserSoze1989

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26/10/22

11:39

Post #: 64403460
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Originally posted by acwbagnall: ↑

So seems everyone is very confused by this, as was I.
IMO the announcement is somewhat misleading and likely intentionally so, in order to create hype, which concerns me somewhat.

So - the wolfsberg project is being acquired by a SPAC - Sizzle, in exchange for the issue of shares which will be worth 80% of the final entity, and the US$159m in cash that is already in Sizzle's bank account.

So another way to put that is the EUR is being diluted 20% for a capital raise of US$159 / AUD$252m for the wolfsberg project alone. Not a 100% accurate description but essentially in simplistic terms what is going on here.

To say that it is being acquired for US$750m consideration is very misleading - since the shares will be issued based on the sizzle market price of US$10.20 prior to the transaction being announced. What the eventual value to EUR holders is will be determined by the market - i.e. if the Sizzle price fizzles rather than sizzles to say $1.02 then the actual consideration is only US$75m or AUD $120m which is around the current market cap of EUR.

Regardless, the economics of this project should justify a much higher market cap, and this development will certainly light a fire under it Will be interesting to see if this sparks a new wave of battery mineral company acquisitions by US based SPACs similar to what was happening in the EV space a few years ago.

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Don't think that's accurate as it specifically states that the value of consideration is fixed at US$750m.If it fizzles to the $1.02 that you mentioned, they'll just need to issue more shares to meet the US$750m consideration.

EUR Price at posting: 10.0¢ Sentiment: Buy Disclosure: Held
7 Upvote

0 Great analysis

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(20min delay)
Last 4.0¢		Change -0.001(2.44%)		Mkt cap ! $55.92M

Open	High	Low	Value	Volume
3.8¢	4.0¢	3.8¢	$39.19K	982.9K

Buyers (Bids)

No.	Vol.	Price($)
1	93980	3.9¢

Sellers (Offers)

Price($)	Vol.	No.
4.1¢	205000	2

View Market Depth

No.	Vol.	Price($)
1	93980	0.039
2	72851	0.038
6	383000	0.037
5	456087	0.036
7	202356	0.035

Price($)	Vol.	No.
0.041	200000	1
0.042	553599	3
0.044	100000	1
0.045	466803	1
0.047	573191	1

Last trade - 15.41pm 13/09/2024 (20 minute delay)

EUR (ASX) Chart

Ann: EUR Merger with NASDAQ Corp - Equity Consideration US$750m, page-69

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Ann: EUR Merger with NASDAQ Corp - Equity Consideration US$750m, page-69

Top Stories

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