No, I don't think POW! tried to get the best price.The offer looks like a simple 5/5.5 times revenue, offer. I don't think the (Stan Lee generated) IP was fairly valued or I also don't think the offer fairly values potential revenue from movies that might be made.
Camsing's offer is designed to look like a premium over the market value of POW!. I think the market value of POW! has been depressed by the way Gill and Stan have run the company; high salaries and over staffed little support for POW! projects that make it to market, and especially no lines of shareholder communication.
With good lines of shareholder communications, I think POW!'s share price would have averaged closer to 19 cents a share during the Disney first look deal.
Since POW! did not go through a public auction for its sale, it's hard to know if Camsing offered the best price for POW!, or if they just offered the best deal for Stan Lee and Gill Champion.
Edit
I'm not sure if Gill and Stan talked to Disney about being acquired. I doubt Disney would make what would seem like a hostile bid and break up the deal POW! already made.
Edit
I think I worked through numbes showing Camsing's deal to be worth between 6 and 7.5 cents, plus or minus. I was thinking revenue would be good this year, plus money is owed to POW!, for the Power concert deal.
Revenue from two seasons of Asia international broadcast rights for "Stan Lee's Lucky Man", plus "Zodiac Legacy" book sales, pending revenue from the animated series "The Reflection), and "Chakra: The Invincible" movie is in pre-production. It could be a $2+ million year for POW!, with better prospects for movies starting.
AI
