Acquilini AcquisitionThe official documentation for Acquilini's acquisition of FTG preferred shares has been posted on SEDAR. Acquilini paid $1,000,000 cash for 1,775,000 FTG preferred shares representing an indicated common share value of 56 per share at a 1:1 conversion.
FTG is currently trading at 30. Acquilini's $1,000,000 investment is either very inopportune or very smart. Big money is usually pretty smart money so it is likely a smart move. Smart in that it's a clever way to acquire 1,775,000 shares (10% of the outstanding shares) in a company that is obviously being currently undervalued by the market. With FTG as illiquid as it is Acqilini would never have been able to acquire a position of this size without moving the share price well above 56. Very, very smart move.
Watch FTG. Interesting developments ahead.