Don’t feel like it is a good deal for us.
MSAC has a market cap of around $150m. If we merge with them based on the current market cap, MSAC current owner will have close to 40% of the merged entity- a controlling stake.
In my opinion, It could be a rather different story say if we can negotiate a “Reversed Takeover” transaction, i.e. AVR buys MSAC by issuing say up to 20% new shares to MSAC. Then we can restructure the company for a dual listing while having additional USD $50m in our cash account. Just saying …
Not Advice! DYOR!
Ann: Proposal to Negotiate Non-Binding Letter of Intent - Merger, page-37
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