I believe Management are being pressured by the bigger investors to carve up the business.
https://www.capitalbrief.com/articl...72863728-3a00-4305-a58b-0146d6f2b0f3/preview/
If the 'evaluation process' doesn't get what Management believe is appropriate, then marching into FY26 with the business intact shouldn't be considered a failure.
Despite poor Q2 and Q3 numbers this year, there's green shoots across both US and ANZ.
US revenue for H2FY24 was AU$33M. Management suggesting ~AU$28M targeted for H2FY25, so not a catastrophe.
EBO acquired 27M shares at 50c in July 2024. Back then their own announcement mentioned "EBO ... does not intend to make a change of control proposal in respect of MedAdvisor."
Obviously things can change, so if they're sniffing around now and at this valuation, they were also a buyer at much higher rates so saw reason to buy then.
There may be a more formal offer with valuation attached to it tomorrow and it may reveal the entity. As mentioned above, I hope the activity gets noticed by others and this is the start of negotiations, not the end.
If the share price spikes tomorrow, existing and eligible holders can sell at profit and re-buy at 10c, but would need to be done on the same day as the offer closes at 5PM.
If it's good news with some firmer commitments, the share price should rise, but I believe it will rise further than the closing price tomorrow.
I still don't think they'll get the full $2M from retail, unless they extend the SPP again.
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