Strauss,
What's your math on the $4m mc?
As per 3B, I get:
317m existing
63m still to come in tranche 2 of CR
60m vendor consideration
17m ITM unlisted options
457m SOI TOTAL
MC @ 1.4c is $6m
Pretty sure this will gap-up, min 2-2.5c.
MC at 2.5c is $11.5m.
Still not overly expensive, so pretty well structured deal imo
Only thing holding back a good multiday run will be profit taking on the last two CR:
50m @ 008
63m @ 011
So 113m @ 1c ave available to come out.
Probably a gap up, then basing into tranche 2 release.
If the hurdles attached to the 60m advisor options are hit (4c and 8c vwap) everyone wins big!
Best of luck.
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