Guys - the warrants is a non-issue. They are not a claim on assets. They are an option that is exercisable at a strike price of $2.07. That means that Nebari will PAY KCN $2.07 per subscription warrant in exchange for one newly issued share in KCN (which have equal rights to the common stock). These are not free penny warrants that you often see in financings of this nature. Nebari only makes a return from the warrants if KCN's share price is >$2.07 in the next 30 months.
My view is that, whilst not a Thai bank loan, this financing is GREAT news for the company as there are no longer any taint / overhang / question of another cap raise / financing issues. 12.5% is high but not crazily so in the current rate environment. I would have liked there not to be a floor set for the SOFR rate, given where rates are heading in the next year or two, but it is not a disaster.
Guys - the warrants is a non-issue. They are not a claim on...
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Last
$1.66 |
Change
0.005(0.30%) |
Mkt cap ! $426.5M | |||
| Open | High | Low | Value | Volume |
| $1.69 | $1.76 | $1.65 | $785.3K | 461.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 14388 | $1.66 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.68 | 2484 | 1 |
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| Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
| KCN (ASX) Chart |