For simplicity. $700m dollars is exchanged for 7 billions new shares.
Which work out, around 10 cents per share. Same as current share price.
unknown factor is: How profitable is the company?
If their profit is... say 50m this year... then valuation at 10 cent per share seems ok.
else, if they're making 10m profit... 10 cents per share is way over value..
Ann: Recapitalisation Agreement, page-51
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