The BLA Board has agreed to a deal with Oaktree that shareholders effectively can not veto given its got an economic penalty of ~$46m, being the 5-year make whole (10% PIK + 5% cash paid + 2% upfront fees)
Whilst shareholders get to vote on the 30% equity conversion rights, they have no say on the wider deal.
On what basis is the ASX allowing such an unconscionable deal to be jammed down the throat of shareholders???
Blue Sky ready to welcome White Knight, page-25
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