@pikel1980 your summary of the deal is generally correct, apart...

@pikel1980
your summary of the deal is generally correct, apart from total debt in 7 yrs, I m not sure if PIK will be compounded or not, but will be more or less cir90m ...

capped conversion is 30% of market cap, which seems to suggest future share price of around $3.5 north.

yes, it looks expensive, but Oaktree's policemen board appointment is free, so is 50% of future dividend (I am glad they thought about dividend while structure the debt)