If say the 30-day VWAP is 33c, LDA will get 10% discount so they will pay around 30c (29.7c to be precise).
They have a right to purchase a further 25mil shares, so total 50mil shares at 30c each. That would give HIO a total of $15mil cash.
It is not a good deal for HIO but Bryan team will have to take it as a lesson and move on and never turn back to LDA i hope.
Price and Chart HIO, page-4691
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