Smells of desperation to me, such a lowball offer indicates that they don't have bank to go much higher. They completed a $90m raise last April from Tiger Global and DST Global Partners. I make their burn rate around $20 to $25m per year, given the number of employees and advertising spend to date and the fact they are trying to buy out a competitor (i.e. lack of their own organic growth). They may have max a 3-year runway left unless they can bag a competitor and fudge growth to get some more VC money in - but given current funding conditions they would need to turn a real profit to get anything. If anyone is in a good position to get more funding it's SWF, maybe they should buy out Stake??
It has to be North of 40c to make any sense.
As always DYOR.
Ann: ASX Announcement - response to media speculation, page-6
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Last
12.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $29.24M | |||
| Open | High | Low | Value | Volume |
| 12.5¢ | 12.5¢ | 12.5¢ | $1.61K | 12.87K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 48226 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.0¢ | 163669 | 4 |
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| Last trade - 12.54pm 03/07/2024 (20 minute delay) ? |
| SWF (ASX) Chart |