The Intermedia Group is laughing all the way to the bank.
Consideration for the sale to BIG of its Hospitality Vertical includes:
$1.6m cash + 2.67m shares issued at $0.90.
Paper profit on the shares is $534,000 [2,670,000 x ($1.10-$0.90)] where the market price of BIG now is $1.10.
The Intermedia Group is laughing all the way to the bank....
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