RE:Bne/Obe 2020 sept merger that failedThe point of last post is offering 2 Obe for 1 Bne back in summer of 2020 with market conditions so brutal and share price so low a better option than if "recapitalizing" is only other option?
it could have came down to these two options. Can't raise much equity with a 30 cent stock price.
not hard to see why they made such a nice pitch to Bne. Before the offer in 2020 Obe was a 30m funds flow a q company with 480m in debt...I don't think Obe had a ton of options at the time to wait.