Relevant Media, page-1271

it's been four months since the due diligence was completed by the consortium. the announcement on 24 January 2022 stated:

ASM’s Managing Director David Woodall said the completion of due diligence to the satisfaction of the Investing Partnership had taken place in parallel with continued progress on the remaining formal binding terms of the consortium’s investment.

the original announcement of the framework agreement 21 july 2021 noted:
The Investing Partnership will arrange investment into the Consortium Fund which is expected to include strategic investment from major Korean industrial companies.
ASM and the Investing Partnership will now work towards finalising the conditions before completing the Proposed Transaction and Proposed Offtake Agreement by the end of 2021.
The parties have agreed to deal exclusively with each other until the end of Q3 2021 for the purpose of satisfying the First Stage Conditions. If those conditions are satisfied, exclusivity will be extended into Q4 2021 to enable the parties to satisfy the Second Stage Conditions, with exclusivity to expire on 31 December 2021.

from my reading of the quarterly, binding terms aren't even agreed yet, ASM are assessing its options and we are 5 months behind schedule for the actual investment and offtake to have occurred. if "progress on the remaining formal binding terms" were running in parallel since january when the due diligence was completed, that means they have been negotiating for maybe over half a year with no result on whatever is not agreed. hopefully ASM doesn't need to restart the negotiation/due diligence process with a new investor if they can't come to an agreement. people blaming shorters for the price decline are deluded when this is the real risk.