Post by
bigkagan on Aug 25, 2020 11:40am
How much is residual cash?
it looks like they threw a bone to the retail investors in the form of transferring the closing cash to the RNL so that shares will be worth a few cents IMHO
The consideration offered under the Bid is comprised of the assumption of liabilities by New Nemaska Lithium totalling at least $146,500,000 (including the Orion and the Johnson Matthey Battery Materials Ltd. secured claims), and the transfer to Residual Nemaska Lithium of the Corporation’s cash on hand on closing, subject to certain adjustments (the “Residual Cash”).
Comment by
BudFox198777777 on Aug 25, 2020 11:41am
From the Globe and Mail : Current Nemaska shareholders, largely made up of retail investors, would likely be wiped out under the proposal as the new company emerging from creditor protection is taken private. The transaction still has to receive court approval. Gabrielle Tellier, a spokeswoman for Nemaska, declined to comment.
Comment by
bigkagan on Aug 25, 2020 11:46am
why are they using the word "likely" if it's so certain? Maybe it's still not 100% certain, ha