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03/08/21
23:44
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Originally posted by notlistening14:
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people are soooo dumb - this is completely incorrect and misleadingHow this raise works : - MNS has agreed to pay $1m interest in 18 months for $20m right now (5% or 3.33% per annum equivalent over life of the loan, which is peanuts) - MNS has received $20m right now, interest free, and not due for another 18 months... with the option of getting another $20m (if the investors agree) - huge! - super well connected US investors who can help promote the company and business In exchange for the above, the investors have only received: - the promise to be repaid $21m in 18 months by MNS. - the $21m is to be repaid by either cash+5% (peanuts) or shares, and if shares, the shares are to be issued at a 7.5% discount to the vwap - which is again, peanuts - options at 40c (for them to exercise at 40c, the share price would have to be 50c+ which is a 66% gain from current levels, think we'd all be happy above 50c and will mean another $8m in the kitty for MNS) This raise is NOT a "free 25% return at a minimum" like some lemons are saying - the shares they've been issued now are offset against the future shares MNS issues if they use shares to repay the debt! If this loan is repaid in cash/shares then the real cost to MNS will still be less than 10% - an absolute bargain for a company at its current stage of development and a ripper of a deal compared to what most others get I bought more, EV space is absolutely booming and MNS has a tiny market cap for what it has, staring down the barrel of a monster re-rate in the next 12 months IMO
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Very well explained in plain English, so that even the lemons should understand. This is a cracker deal for MNS, and great show of support from the big Hancock