RE:RE:RE:Bid/AskThat is a non-sensical way of looking at it.
At no point could a SDE shareholder ever get $2.30 of value from Logan. Every other analyst used a diluted value metric converted to pre-distribution pricing. Using a 173 O/S only makes sense if SDE shareholders owned 100% of LGN, they don't and the difference is the dilution I was harping about earlier on the financing. The most SDE shareholders can get is 2/3 LGN, the other 1/3 is owned by those who provided the $100M financing.