RE:RE:RE:RE:SoldGood question. This isn’t a takeover of the public shell, just the operating company. Brisio (now namesilo) will sell the operating company (namesilo llc) and get $15mm now less the portion not owned and the other $15mm over the next 3 years I believe the press release read.
Youd still own all your shares just in a public shell with no operating company. They’d just have the investments in IPA etc. My guess is one of the below two scenarios would play out.
1. Take the $15mm plus what they raised recently and go acquire another company and do the arbitrage private to public acquisition again.
2. Pay a small special dividend to current shareholders and go acquire another company (likely in tech) and do it all over again.
id venture to guess the reason the offering was oversubscribed was due to investors being privy to a potential sale and plans for future acquisitions but this is just a guess. They’d have to go “over the wall” and wouldn’t be allowed to trade on that info. Could explain the oversubscription. I don’t think Paul wants to simply pay off shareholders and be done with this vehicle but we will see