NYSEAM:SEB - Post by User
Post by
LOOKINGOODon Oct 30, 2019 5:12pm
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Post# 30288833
some overhang to chew thru (fin out today)
some overhang to chew thru (fin out today)On July 3, 2019, the Company divested the operating assets of Paradigm to a Limited Partnership of which the combination of Golden Opportunities Fund Inc. ("Golden") and Paradigm's senior management own 75% and the Company owns 25%. The purchase price included a cash amount of $4.5M, cancellation of $3.0M of Paradigm preferred shares owned by Golden, which were convertible into SEB common shares, and a working capital and pre-closing earnings adjustment. In exchange for Golden relinquishing the convertibility and earnings bonus features of the preferred shares, the Company issued to Golden 1,000,000 warrants to acquire SEB shares at an exercise price of $0.30 per share for a period of four years following close of the transactio