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.
Yes, Findi will have $15m in cash and enterprise value of Findi...
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Last
$2.55 |
Change
-0.050(1.92%) |
Mkt cap ! $124.4M | |||
| Open | High | Low | Value | Volume |
| $2.60 | $2.64 | $2.50 | $191.0K | 74.73K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 11965 | $2.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.58 | 1258 | 1 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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Last
$2.57 |
Change
-0.050 ( 0.80 %) |
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| Open | High | Low | Volume | ||
| $2.54 | $2.62 | $2.53 | 8098 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| FND (ASX) Chart |