There's always risk & I suspect PR is very confident of success and probably unwilling to sufficiently price that risk into any potential deal atm. So the partners would rather pay a lot more for virtually no risk. It's a bit of an all or nothing strategy though especially for him considering how many shares he has. Hopefully he will get some small deal done that will get the options in the money. There's no doubt about it though the interim results are going to be a binary outcome and will send the SP into orbit if they're good & down the gurgler if they're bad. The dream result for me would be getting the options in the money then I could sell all my shares at a profit exercise the options & run with those and the piggies. If the results are good I'll be more than happy with the likely return from that without risking it all. Hopefully averaging down pays off. I still think there's a decent chance the options may end up in the money as the sell side is very light it won't take much to move the SP, hopefully the upcoming webinar will prove to be a catalyst.
PAR Price at posting:
42.0¢ Sentiment: None Disclosure: Held
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