Yes, Findi will have $15m in cash and enterprise value of Findi goes up by $15m... but TSI doesn't get the cash, and TSI's value does not go up.
In reality we (investors) are valuing FND much more than the current $40m based on TSI valuation, up to $200m. Adding $15m cash for a 33% dilution it's a great deal at the moment no matter how you spin it.
Think of it this way - how is Findi going to invest that $15m to grow at the same rate as the TSI investment? Maybe they just give it back as dividends over the next couple of years.
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Last
$3.82 |
Change
0.110(2.96%) |
Mkt cap ! $236.0M | |||
| Open | High | Low | Value | Volume |
| $3.71 | $3.82 | $3.62 | $596.3K | 160.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100 | $3.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.84 | 3500 | 1 |
View Market Depth
| Last trade - 16.10pm 20/06/2025 (20 minute delay) ? |
| FND (ASX) Chart |