To qualify 'scenario 1' a little……a good multiplier would have had to occur on the options for it to be as attractive as possibly to exercise under such conditions, otherwise the remaining potential upside of the options would obviously need to be realized by holding longer…..but still looking for the conditions to be present as suggested in scenario 1……weighing up both scenario's continuously.
I still maintain as mentioned in a previous post, if they can get someone to underwrite the exercising of the options sooner rather than later, I think this would give support to a higher SP, thus effectively ensuring the exercising of the options and reducing any downside risk to the underwriter……obviously there would be a fee payable for underwriting, so I guess this would have to be compared to the other fundraising proposals they are considering and costs thereof.
Just my thoughts, DYOR.
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