RE:key quoteWhat do you think the odds of the deal falling apart or being renegotiated are prior to closing? If you look at the terms, PYD is well below the floor price of $0.18 a share and has been for some time. The stock consideration in the deal includes:
"USD$5.5 million of equity consideration payable in common shares of PGFC valued at the volume-weighted average price of PGFC’s common shares on the Exchange for the 60 trading days immediately preceding the Closing Date, subject to a minimum price per common share of CAD$0.18 and a maximum price per common share of CAD$0.40; "
If I was the seller I would definately try and terminate the merger agreement or seek other terms as with current prices the deal represents $2.5 M less then agreed upon.
Thinking of picking up a few shares but think the deal might be at risk at these price levels or we are going to see a lot more dilution to make up for the depressed share price.