I'm honestly a bit disappointed in management for this error. It makes a material difference to the function of the deal, as announced. As appears to be the case now, instead of us being in control, LDA might get a month to play with the price how they’d like and position where they want, selling shares we’ve issued them which no one knows the strike price for until the 30 days is done.
That may be neither here nor there where our interests as holders and LDA align (as is, I hope, the case right now), but it is still a substantial shifting in the power balance on a deal i otherwise felt quite positive about (as TFG noted more info from management on the other details might appease these concerns).
Until we know more, let us hope management minimise the number of drawdowns in number and quantum prior to the hopeful big finale when the project is financed.
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