Second Wave Petroleum Inc SCSZF

RE: RE: Jump in or not to jump in

[heraclitus]

If I understand the overview there are two major components to this offer. First is the debenture financing.  It is convertible at $0.25 per share so Brookfiield can exercise that option and further dilute shareholding by some 65% at a future date.  Second there is the takeover/going private offer at $0.30.  It seems also that in circumstances such as this non-tendering shareholders have a right to have the courts assess the fair market value of their shares at the time of the offer.  That is a long term issue and seems likely to give some premium but with solvency questions it might not be great.  All in all, I a not sure whether to sell or not at the moment