MLX has an equity interest in NC1 which is flying. It has no such equity interest in CYM. Their interest in CYM is limited to options and a convertible note - convertible at MLX’s discretion so there is little lost here other than the options likely expiring out of the money (worthless).
I don’t believe the convertible is broken down into 4 tranches.. I read it as the whole $36m due in 2025.. will get some interest due here soon though.
MLX Price at posting:
66.0¢ Sentiment: Buy Disclosure: Held
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