It's An Okay Offer - But Not A Great OneI've been in this thing since the very beginning, when it got listed, and I would argue that this is an okay offer but not a great one.
Before Abramovich got involved with his shares, the major shareholders were looking for a $2-3 per share to sell. That means a current post consolidation price of $8-12/share. That would be a great offer. We are getting $5/share so it's a bit short.
However, what makes this an acceptable offer is the fact that there are many other companies to redeploy capital at a very good price. I think I'll accept the offer because of that.
But I'm wondering if someone else takes a stab at them and maybe pushes the share price into the $8 - 12 range. The technology is clearly being validated by this offer, which means others may take a more serious look at it now.
I certainly wouldn't be selling just quite yet.