The process intrigues me. RMS will clearly pick up a reasonable chunk of EXU. The first target is 20% where RMS can demand a seat on the Board.
Target 2 is 50%. Let’s be realistic- 50% will virtually equal 90% as RMS have clearly articulated the consequences of this scenario. If RMS is stuck somewhere between 20-50% ownership I expect them to draw upon their cash reserves to sweeten the deal. If they are not far from 50% I can envisage a $0.01 per share sweetener and if not up to $0.02. They are not, however, going to pay anything as some have pointed out that they can walk away and come back after future dilution and CRs have hit the EXU SP.
