"new" Strathcona share priceIt is confusing, so try looking at it from a different angle
They used a PIPE share price of $2.72 to come up with a market cap of $8.6 billion.
So at a PIPE share price of, say $2.30, the market cap would be $7.27 billion.
The "new" Strathcona will have 214.2 million shares outstanding, so the share price should be $7.27 billion divided by 214,2 million shares, or about $34 per share.
Hope that helps.