Number of IAN shares MPX shareholders will get I just watched again the Midas Letter interview of Scott Boyes (CEO of MPX) regarding the IAN / MPX merger
Link: https://www.youtube.com/watch?v=yWWWJMgupRg
Excuse me if it was mentioned somewhere else, but something completely new caught my ears.
At 53:00, James West asked Scott how many shares will MPX end up holding of iAnthus.
Scott mentions the ratio but then conclude by saying "the number of shares will depend on the share price of iAnthus at time of close"
What I conclude from that is they will adjust the # of IAN shares MPX holders will receive to respect the 30.6% premium announced. This way, it protects both companies in the case IAN share price at time of closing would be too low (making MPX sell their company at a lower price) or too high (making IAN buy MPX at an higher price).
Let me know what you think. Before seeing that, I always felt something was wrong about that deal due to the fact that the SP can fluctuate so much by January 2019.
Please correct me if I am wrong and let me know what you think of this and what should be the best strategy to play until the deal closes.