the selling actually occurs in step 5 as part of the hedging. Under parameters laid out by RHT. After step 6 Acuity is back to the 20m shares which RHT can recall for zero consideration. Theres no equity overhang. Both parties are delta hedged
Companies prices as always are predicated on the company delivering regardless of raising method.
Did ICG deliver on their exploration? no
did BLK manage to mine profitably and deliver on promises as forecast? hell no
Ann: Secondary Trading Notice, page-14
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