RE:RE:The good, bad and uglyWTF is so bad about this deal kid ?
This is a standard practice among micro cap start-ups.....you realize this right?
AIR will end up getting about 15M shares, give or take. Not bad at all. The market will easily be able to absorb that....especially come Q3 and beyond.
Snickel
kidl2 wrote: This will make the AIR deal (much) more expensive in terms of share dilution.
From the NR:
Pursuant to the terms of the LOI, and subject to the execution of a definitive share exchange agreement, Global UAV will purchase all of the outstanding and issued common and preferred shares of AIR for the sum of $2.4-million, which will be paid as $600,000 in cash (a portion of which will be used to eliminate all of AIR's outstanding liabilities) and the issuance of common shares of Global UAV equal to a total of $1.8-million based upon a deemed issuance price, calculated at the closing date, and based upon the volume-weighted average price (VWAP) over the 20 days preceding the closing date.