If some did a little research they would see that all recent CR were done at a higher price than the previous and gone to different entities so I’m at a loss of who the usual parties are for these fantasy rinse and repeat placements. Mercer showed us they were not interested in a 10% discount for their full entitlement, and why would they be when they have plenty of $10 options to convert. And that goes for the previous placements that had attaching options, why would any of them be interested in a placement at a modest discount. Even L1 Capital have their next lot of options to convert at $15. The last placement which was done at 50% premium to the one before didn’t include options so with any luck the next placement will be to a new fund without options as well.
AVR Price at posting:
$22.01 Sentiment: Hold Disclosure: Held
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