Ann: Security Class Reinstatement to Quotation- OPTOB, page-661

That seems to me to be the intention of Regal as well. They often like TOs as it provides a nice and easy exit strategy (which they especially need here considering how large a position they have in this). At the same time, I don’t see them letting this go for a discount to what it is truly worth. They’re in the business of making money, and given they are incredibly long on this stock, will seek to maximise the price at which they exit. Given that when we talk about the wet AMD market, we often are talking about billions in profits, I can certainly see that price being many multiples (10x +) than the current price