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Galaxy joins Alita legal proceedings, page-38

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23/02/21

18:00

Post #: 51257523
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Originally posted by BT6487: ↑

Galaxy showed their hand very early on when they called in a debt default a day after acquiring the debt and also proposed a DOCA with nil return for shareholders. Now they say they're willing to spend $55m on the asset. Which is still absurdly cheap. They always knew the underlying value of the asset and tried to screw SHs out of everything. Also Tribeca are back involved, they were the ones that called a default and sold the debt to Galaxy, obviously in cahoots. The notion that they are both now the nice guys doesn't wash with me. Best option now is company gets wound up and a a biding process opens up . I'm sure someone would pay more than $55m in the climate

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I would think more $150M+ in this climate, which would leave a fair bit to go around for shareholders.

A40 Price at posting: 8.2¢ Sentiment: None Disclosure: Held
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