Hey all ✋ just came across BTH & reading a lot of conflicting...

Hey all ✋ just came across BTH & reading a lot of conflicting info. Trying to get to things clear in my head.

From my research BTH looks like a SaaS business with reasonable product-market fit & growing ARR revenues. But it’s really beaten down from a share price perspective which is why Investcorp has launched its action.

Does it feel like BTH is turning the corner & likely to grow as a SaaS business from here if the special resolution vote doesn’t get passed? Or is the sp likely to go down further?

On the one hand the arb opp looks attractive for new shareholders who buy in now (Investcorp implied sp value of 50c vs current 17.5c) yet buyers seem unwilling to close the gap? What’s going on & why is this happening?

Obviously it’s a bad deal for existing shareholders who bought in at higher levels (that’s why Investcorp did it) but how much of a bad deal is it for new shareholders buying in at current levels?

Thanks for all your thoughts everyone!