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.

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

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Comment by malx1on Nov 30, 2022 2:28pm

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Post# 35140592

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

snajem wrote:

malx1 wrote:

malx1 wrote: Might happen. Then they may increase offer to 0.75 or 0.80 in hopes of appeasing shareholders....... The time to sell entertainment assets is during an economic boom, so the timing of a potential takeover here is not ideal as we face looming recession with the consumer maxed out with debt and falling real estate prices. If only a single bidder for business then there is the risk of a bid that undervalues TNA. Insiders own 93mm shares so 32mm in the hands of retail shareholders says there's only $21mm on the table for mom and pop.......... Time will tell. Be ready for a low bid as starting point.

Point out where I was wrong after posting this price target for readers here waaaaay back in early September. Very negative group here now splitting hairs. Second offer sounds shaky. May fall through. Fortune Gaming might have trouble getting financing.

Just to clarify, Fortune's bid cannot be conditional to financing to be considered a "superior bid" per the agreement with Maverick, so that statement is not factual. Maverick has until tomorrow to respond (match or raise bid) so we will see where the dust settles. Fortune can also match whatever revised offer comes from Maverick. The U$0.605 offer implies 3x EBITDA valuation which is still very low. A buyer coupd still fund the whole acquisition with 100% debt, so still a bargain for Maverick or Fortune at these levels.