Someone smarter than me (and from a computer not a phone) will be able to improve on this but the way I read it:
- MSAC is a “blank cheque” SPAC with ~$1.5M USD as at last report
- No commercial activity at all at this stage
- Market cap of ~$112M USD ($157M aud)
- Issue new shares to ensure $50M USD cash on hand in addition to current cash levels
- Current shares on issue (11.62 “implied” shares on issue)
- Current share price since SPAC was formed in early 2021 has bounced between $9.50 and $10.3 USD
So they would need to dilute to raise the additional $50M to add to the cash position but that’s all?
And the price they choose to raise at, in theory, should be at a premium to the existing price because they go from having no commercial activity to actually having AVR.
No idea though what would form the share issue price, and would love some more experienced poster to add (and correct my post if needed).
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