At first glance, this offer severely undervalues the company,...

At first glance, this offer severely undervalues the company, opportunistic to takeover when share price is so low, yet management has carved in and sold us off too cheaply. And only a 20% premium to last closing price. Very dissatisfied.

The $1.135 offer price is a significant 35% below is IPO price of $1.73 just under 11 months ago!

Would that mean that they were clearly aware that $1.73 IPO price was a massive overvaluation of the company when they released the prospectus? This is especially given the significant growth and strides management has added in the last 10-11 months since IPO, which would have increased their value. Not sure if there were any shortcomings in their disclosures then.

Don't we also have some cash on balance sheet that should be reflected in the takeover price?

Whilst some major shareholders are supportive, I hope the other fund managers will push back and not support it. Likewise, I hope many retail shareholders do not either. This will make the bid harder to go through. Most early shareholders are sitting on a loss, so it is not ideal. But if it goes through, then it is what it is as at least we would have recouped some of that capital back. Glad I average down a number of times so it's not too bad.

A competing offer would also be nice.

Happy to hear people's thoughts.