Are Bamm shares excessively discounted2.4 x $1.29=$3.09 not to mention the general feeling that tgif is likely to appreciate if , and by the time, the deal closes and the conversion occurs.
I can only only surmise that the market believes the deal will not close or that there will be a significant dimunition in the exchange ratio to say say 1Bamm share=1.5 TGIF shares so as not to make the gamble worthwhile.
And yet the concensus is that that LOI is good for both and that it will close.
Puzzled????