GREY:PGDIF - Post by User
Comment by
ekimon Jul 12, 2017 11:53am
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Post# 26460170
RE:RE:Ownership percentage
RE:RE:Ownership percentage
Yeah Kid is pretty spot on. They have about 46% and will have that after as well.
There is one caveat.
You have likes of Eric and Rike Rule who say that rights offerings are fairest and non-dilutive and then you have the likes of JK who says they are dilutionary.
Whatever side you are on...I really couldn't care...the point is both sides can absolutely agree that the right offerings are 100% dilutive to Eric's options that he owns.
That is around 12 million options that will stay 12 million options after the rights offerings.
I don't believe Robert can really do any over subscribing even though his name is listed.
Eric on the other hand must consider his full % inclusive of if the options get exercised...and that is hovering around 19.8 to 19.9% right now...so not a lot of room to over subscribe.
With the dilution on those options...he will have a bit of wiggle room to over subscribe as a backstop for a small amount of shares.
Sprott is doing the absolute heavy lifting with the backstop agreement.
LONG...PGD
EKIM