By my rough maths, that values the BLA share price at roughly $1.50 to $1.80 per share, before the impact on NPAT of whatever interest rate will be charged on the convertible note.
As has been pointed out previously, it's interesting that they need another $50-60m in cash, which just goes to illustrate what a house of cards the original model was.
Blue Sky ready to welcome White Knight, page-3
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