End of the day market doesn’t think this is particularly...

End of the day market doesn’t think this is particularly accretive at the valuation paid so they’re going to have to work really hard to prove it out. The EBiTDA will 100% be lower than last year which had a covid bump so expect that to shock some people next year. The raising discount is too low - you want retail investors to be able to sell on market after the insto raising so they can raise funds to participate in the primary equity issuance. There is no chance to do that now which puts some of your larger retail investors (me included) on the sidelines because don’t have wads of cash handy. Good luck to those who hoover up my unused allocation!