Researcher and JadelI thought that the PIF LLA debt was $70...

Researcher and Jadel

I thought that the PIF LLA debt was $70 million.

The Artic deal was a $10 million 2 year no interest note plus
shares plus option to take more shares
plus cash

They never came out and said what cash they were paying but getting shares implied not getting 100 cents in the dollar as if PIF was getting 63 million cash the shortfall is only 7 million so why is there a 10 million note and the shares as PIF would then be getting more than full value.

IMO PIF will be taking a haircut to get cash in for bank