RE: Still time to Tender! I would suggest that if Luxor gets the 50% they take up and pay for those shares and then at some point after this the share price tanks. Remember that this latest circular by management made it clear that Luxor's "speculation" was correct, the Croc needs more cash injected! So when investors finally figure that out, when the news release hits, the frustration selling will be BIG and there could be a good opportunity to buy back at a nice discount! Why "hold & hope?"
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Right now, IMHO, a vote to tender shares is a "no confidence vote" on the present management. Hold your shares and it would appear as though one is voting to keep the existing "team" with all of their "related party" fees and golden parachutes. Tendering shares and giving Luxor its 50% is the only way to dump these geniuses.
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Problem is that Luxor only has lock up agreements to get them to get them to 26.25% of the shares OS. They need another 24% of OS shares in order to take up the deal. If Luxor does not get enough shares to take it over the 50% level, the deal fails and we are stuck with the present management!
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Don't let this deal fail! Tender your shares!
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Shoot if you have to, buy additional (replacement shares) tomorrow at 58 cents or lower and tender your shares to the deal! 6.8% return on a week's worth of hold time? No brainer.
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Unless someone has found text that says otherwise, I think Luxor has to pick up any and all shares tendered until they get to the stated objective 85% OS. So if 100% of shares are tendered, then the least amount of "fill" one would get would be 85%. I could be reading it wrong, but I think 85% is the lowest fill rate. So tender and lock in those 'sure thing' rewards now.
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Still time to tender! Call that broker tomorrow AM! Don't know about yours, but mine has imposed and "early" deadline of 1 PM EST to make the tender election. ACT NOW! <g>
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All fwiw, imho, do your own DD, consult your own broker & tax advisor, think for yourself....