I say Mangrove a bluffing. I had a look at their website and they seem a bit amateurish.
I'm not sure if they are willing to risk being stuck in Biota Pharma if they lose, or if they win, potentially having to wait 3 years for their money (yes they disagree on this point but there's a lot of uncertainty).
Post dutch auction one would think there'd be more strong holders than weak holders... so less likelihood Mangrove would win.
Is the risk worth it for not fantastic rewards?
BTA Price at posting:
66.0¢ Sentiment: Buy Disclosure: Held
