I def underestimated the amount of shares Arena ended up selling. But then as we have been shown, they are primarily financiers, not investors. As such, they made sure they turned their transaction into a tidy profit and limited their risk asap.
I am quite ambivalent about their role ... they provided the finance we needed when I presume others wouldnt, and the SP has risen from 5.5 on the day of their announced funding to the current 10 cents! I think all things considering, they have handled it well, it has stalled any rapid rises in the SP, but hasnt trashed it ... which was a real possibility!
So what can we expect of them from here? Well, the way I see it, they would want to hold back the SP for the first three tranches so as to convert at the lowest prices to maximize profit ... should be not far off done & dusted I would imagine.
But from here on, they are well & truly "free-carried" and have zero risk. I would not be surprised if we see Arena become short-term investors with their remaining stock, and possibly even "encouraging" the SP to rise. Risk-free, they know the quality of what MUS has, and they significantly increase profits if the SP doubles from here.
Sit back and enjoy folks! The next three weeks are going to be real fun! And Arena might even make a contribution toward it!
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