RE:RE:RE:RE:RE:Management’s Discussion and Analysis March 31, 2024True but not everyone bought both tranches of the CVR, some did not buy either. Everyone knows that Tenor wants to acquire 100% of the asset when there is an award. We are quickly getting there, one more move and the remaining 5% disappears bringing share value to zero.
The 5% cut is the piggy bank to pay bills amounting to somewhere around $35 million US. The CVRs obviously pay nothing. If you hold CVRs you cannot be hurt since your shares are simply the slush fund for bills and CVRs remain intact. Ordinary shareholders simply get fleeced. There was no rationale provided for the 5% cut for shares, doomsday is when the other 5% goes.
i would love to hear if anyone has a better scenario.