Each time you tag me you look more foolish.
I've already stated the most they'd 'pay' for these con note shares is 4.75c. Say IMU hypothetically gets a takeover offer tomorrow for 20c; the following scenario plays out:
Convertible notes:
Max price/min dilution of Con notes -
Delta: 20c - 4.75c = 15.25c x 421,052,632 shares = $64,210,526.38 gross profit.
Warrants:
Delta: 20c - 4.94c = 15.06c x 526,315,789 shares = $79,263,157.82 gross profit.
Total gross = $143,473,684.20. This is what
Susquehanna would stand to make from a 20c buyout figure.
This is why, in my view, Susquehanna will short
IMU to oblivion. It's a hedged bet and they'll make bank either way. The worst raise IMU has ever undertaken for shareholders... to date.
(20min delay)