RE:RE:RE:Putting Sundial in it’s Placecreaton - (1/22/2021 9:38:27 AM)
RE:RE:Putting Sundial in it’s Place I would read it as 7.55% plus prime 3.25. Percent today not to exceed 10 %
Sundial's managment is as incompetent and sleazy as Zena's, regardless they have $100 million in the bank and no debt, so don't be too smug about Zena owing $100 million (plus the current liabilities of $60 million).
That said - who gives a phk about Sundial.
I agree that the deal says either prime plus 7.55 OR 10% - prime I think is 2.45 so really it's 10% either right now
-what posters are missing is that on top of that there are fianncing fees - and those wer $3.5 million last March, so probably half that today.
-Zena will pay 2.40% on any unsed balance - which would be roughly $5 million(?) right now
-Zena will issue 6 million shares (roughly $600,000) today.
So - no, not a great deal overall between the original 14% and the above details, but obviously they're desperate to be rid of Sundial for a reason - likley merger - and this at least accomplishes that.