Ann: LoI for Cooperation on Strategic Investment, page-51

Of course they are going to get their moneyback.

Without telling you to suck eggs, look a bitmore broadly.

1. Private equity doesn’t use IPOs or project funding to increase their exposure to a deal. Look at EMR track record – they use funding events of IPOs to reduce their holding. They aren’t project funders.
2. Jun-23 and feb-24 – two dates EMR have provided ~ $25m of pre-construction funding to allow HFR to continue to keep this project afoot with milestone payments in the millions to the banking syndicate, deposits on long lead items.
3. If they are getting cents in the dollar, why on earth are they converting their debt to equity? If its worthless you call your notes for cash and walk away in a better position.