I disagree.
The only constant in this equation is $2,000,000 paid.SQC has also executed a Subscription Agreement with Silex, which will result in SQC acquiring up to 493,827 fully paid ordinary shares in the capital of Silex for $2m.
$2,000,000/493,827 is $4.05/share - that is the minimum they will pay to get the maximum number of shares (493,827).
It clearly states
- SQC pays $2,000,000
- SQC obtains “up to” 493,827
Therefore
- If the price is $4.05/share they get 493,827 shares.
- If the price is $5.00/share they get $2,000,000/$5.00/share = 400,000 shares
Very clear in my mind
Ann: Silex and SQC Sign Expanded Commercial Arrangements, page-20
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