PA that is correct , the claw back is an independant criteria...

PA
that is correct , the claw back is an independant criteria that will only be a risk for those that hold and dont acpet the offer. To supprt your view the preso has the claw back as clause 4, which is indepednant of clause 1 2 3. The 55 cent offer would also have been closed by 3 months before 120k hit or miss can be verified and he money well and truely in the accounts of holders

I have seen this mispricing opprtunity occur before years aog with rebel sports. in the end the holders and those that acquired got full value.

95% chance 11 percent upside in 1-3 months
40% chance of a superior bid
100% reality that even at 49.5 it is still very undervalued

Good odds indeed.