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Fresh Tracks Therapeutics Inc V.BBI


Primary Symbol: FRTX

Fresh Tracks Therapeutics, Inc. is not engaged in any business activities. The Company is in the process of dissolution.


GREY:FRTX - Post by User

Post by mrmomoon Sep 15, 2023 4:01pm
213 Views
Post# 35638967

Wow.....What a turn of events!

Wow.....What a turn of events!I usually call it a day around this time, especially on Fridays right before the week-end, BUT HELL this was just to good to pass up not to comment before Monday. I just daw the news drop a few mintues ago so this indeed quite an "unexpected" development. I'm going to kkep this breif and do a more indepth commentary next week but.....i just say the following.....quickly...

I don't what went behind closed doors at Pipestone, Riverstone, GMT AND StrathCona HQ.....but something did indeed BLOW UP and didn't go as planned.........Both Riverstone & GMT have stayed quiet since the offer/acquisition not stating one word or one peep from them on how they felt or were leaning. BUT it  seemed logical (strategically!) as well as for insurance purposes that Strath-Waterous would NOT have made such a move without first securing the NEEDED votes. Meaning both those of Riverstone & GMT, to make sure there was NO DISSENT, as things moved as smoothly as possible WITHOUT any hiccups....

So for me it seems REALLY out of place, somewhat strange & suspect, for GMT to suddenly come out AFTER almost two months since the offer......AND OPPOSE the deal with StrathCona....which for me means basically....what??????.......doesn't really compute......UNLESS there was some kind a falling through between the individual groups.........which could be possible.....if enough LONG TERM......LONGTIME investors/clients of GMT voiced their disgust or some other issue between them.....

BUt Wow......What a setback for StrathCona/Waterous......They DESPERATELY needed GMT's precious 20% backing for this to pass........smoothly..... Now that's up in the air & in doubt. With the other minority institutional holders opposing and probably the majority of retail as well. Strath only has Riverstone & Pipestone mgmt/bod backing them......Which is insufficient in my book and by my calculations for this to be "securely" passed! From the looks of it, it seems that SrathCona probably has about just a little over 50%....maybe 60%....and that's defintely NOT enough.

So what happens now? Look for a "sweetened" offer by StrathCona/Waterous soon..... by increasing the ratio offered IF they cannot convince GMT to get onboard with several "urgent" private board meetings over the week-end by all  the parties involved............

Wish i was a fly on the wall for that.............

Maybe i didn't "underestimate" GMT's neutrality that much.... after alll...........8)


GLTA



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