TSXV:BTI.H - Post by User
Post by
JDavenporton Dec 13, 2022 7:49pm
313 Views
Post# 35169839
Here's the bottom line.
Here's the bottom line.Bioasis, with a market cap tonight of CDN $11.5 million, is being bought by a company that goes to bed tonight with a market cap of only about CDN $6 million, and Bioasis shareholders end up with less than 10% of the resulting company.
Together, current Midatech and Bioasis shareholders will end up with less than 50% of the resulting company, meaning that control of the resulting company goes, it appears, to investors brought to the table by Ladenburg Thalmann.
The resulting company can do anything it wants without a single vote from current Midatech and Bioasis shareholders, including selling the company to private concerns, or selling xB3 to private concerns and running the Midatech/Bioasis combination on Cresence EGF stuff.
It looks to me like the current Midatech shareholders are just about as exposed as Bioasis shareholders are.
jd