The recently announced PointsBet Announces Deferred Bonus Equity Option is a free 1 for 20 right to purchase $10 worth of shares at a 20% discount to VWAP calculated after the exercise date, which the company could announce to coincide with an anticipated price spike, followed by a selloff. Could this possibly coincide with an executive bonus payment?
"The Company has the right, at any time before the Expiry Date, to cancel the outstanding DBEOs" or it could simply never announce an exercise date. The DBEO's are cancelled in the event of a takeover. What is the proper selling price of something that could be cancelled?
PBH takes 12% out of the hide of the average punter each bet. Don't bet against this company or its executives.
PBH Price at posting:
$2.80 Sentiment: None Disclosure: Not Held
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