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Ann: ANS: Proposed $100m Placement & Strategic Investment in Sund, page-219

  1. malmanu
    16,388 Posts.
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    01/10/18
    22:30
    Post #: 35957240
    The 2c options have a five year expiry suggesting it isnt reaching that price for some time if ever. Why would the note holders invest $200m by exercising these options to own only 29% of SDL (assume they would own 12b of 41.5b shares) when by nov 2019 SDL had no hope of paying the noteholders $132.9m so they would have ended up owning most of SDL.
    Last edited by malmanu: 01/10/18
    SDL Price at posting: 0.6¢ Sentiment: None Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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