wind up successful - yes, would expect a bounce. NTA is $2.80...

wind up successful - yes, would expect a bounce. NTA is $2.80 (or a little less) and cash will start flowing fairly quickly.

wind up defeated - I do not think the market will reward the current management team. EBB have not necessarily added a lot of value, and the disc to NTA has stayed high. There is a 25% redemption at a 7.5% disc to NTA in 12 months. Based on $2.80 NTA, that is about 65c of value (25%*2.80*0.925). If you enter at $1.20, the 75% remaining will owe you ~55c. So, I actually think the downside will be limited.