Direxion Daily Small Cap Bull 3X Shares V.TNA

Primary Symbol: TNA

The Fund seeks daily investment results before fees and expenses of 300% of the inverse or opposite of the daily performance of the Index. The Fund does not seek to achieve its stated investment objective for a period of time different than a trading day. The fund invests at least 80% of its net assets in financial instruments, such as swap agreements, and securities of the index, ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index. The index measures the performance of approximately 2,000 small-capitalization companies in the Russell 3000 Index, based on a combination of their market capitalization and current index membership. The fund is non-diversified.

ARCA:TNA - Post by User

Direxion Daily Small Cap Bull 3X Shares > Would shareholders be upset with $0.70 buyout?

<< Previous

Bullboard Posts

Next >>

Comment by snajemon Sep 08, 2022 6:56pm

80 Views

Post# 34950835

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Would shareholders be upset with $0.70 buyout?

Not a done deal. Another suitor can submit a superior bid and Maverick would have the right to match. If Maverick can't match then they get a $2.5MM termination fee, and other suitor can pursue the transaction with the superior offer. Good news is that we now have a floor at $0.72 and the company is now widely broadcasted to be in play.

the maverick bid implies a TTM EBITDA multiple of 2.5x, which is way too low. You can get acquisition financing at 3x... so a competitor can basically launch a superior bid for zero cash equity.

<< Previous

Bullboard Posts

Next >>

Consumer advocacy law firm investigates Microsoft over X-Box data concerns