my understanding is that the put option works like a hedge there for LDA with certain exercise price. So, once they exercise it, the pricing period will take effective from that date. LDA will be given the collateral shares for them to sell with an expiry date. There could be immediate sale or on hold. They sell and take the difference in pricing. The rest is given to the company for capital purposes. Dyor
my understanding is that the put option works like a hedge there...
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