Daily Price Movement / General Discussion, page-45522

The fine print is sometimes the important bit... in finance, if you read the fine print and someone else doesn't, they give you a prize sometimes. The average retail investor should be aware that it's the business of lots of people to read that fine print.

I was trying to reconcile why SZL was trading under terms... take out the funding and borrow costs (maybe 8 months at let's say 6%(ouch!)) and that left maybe 8 cents. The rest is due to risk of the deal falling over (and SZL falling/cut adrift). Z1P at $1.72 vs SZL at $1.51 means the deal is not priced at 100% likelihood of completion in its current form. Given the cash position of SZL, its cash burn rate and the permitted financing in the agreement, I don't see a tractable solution without restructuring the deal.