RE:RE:RE:QuestionVENman,
The line you have highlighted, from the NR, is the If/Then statement for the scenario where the market value for 4.52586207 ACB shares is above $24 (the cap price). In such a scenario, you are correct, the 4.52586207 multiplier will indeed be adjusted so that the consideration payable is $24.
There is no corresponding If/Then statement explicitly stated for the scenario where ACB SP drops and the market value for 4.52586207 ACB shares correspondingly is less than $24.
There is no If/Then statement in the NR for this scenario because they state that an adjustment to the 4.52586207 multiplier is only made if the market value is above the cap price.
So...if the SP of ACB falls to a level where the consideration payable is less than $24, there will be no adjustment to the 4.52586207 multiplier.
VENMan wrote: Less than $24?
Today ACB said:
The Offer will provide holders of CanniMed Shares with 4.52586207 Aurora Shares for each CanniMed Share, subject to a maximum of $24.00 per CanniMed Share (the "Cap Price"). If the market value for 4.52586207 Aurora Shares is more than the Cap Price (based on the 20-day VWAP of Aurora Shares on the earlier of the expiry date for the Offer and the date on which the conditions to the Offer have been satisfied), then Aurora will adjust the number of Aurora Shares offered as consideration in the Offer, such that the consideration payable for each CanniMed Share is equal to the Cap Price.
The way I read this is if ACB has a 20 day VWAP of $6 CMED shareholders would get 4 shares of ACB ($6 X 4 = $24) and if ACB has a 20 day VWAP of $4 CMED shareholders het 6 shares of ACB ( $4 X 6 =$24) so it's $24 per ACB shares of what ever the 20 day VWAP turns out to be. ALL IMO!! DYODD!