RE:RE:RE:RE:Definitive agreement reached That's not correct.
Scenario one (the incorrect one): 28.5% equity ownership = 28.5% x $250M of EBITDA = $71M of EBITDA allocated to PE partner
Scenario two (the correct one): 14% equity x $250M of EBITDA = $35M of EBITDA + $10.8M dividend payment (14.4% x $75M investment) = $46M allocated to PE partner
There's a very big difference between $71M and $46M. At a 10x valuation multiple to ReGen, $25M of EBITDA = $250M of EV value = more than it's entire market cap today.