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Not anymore. PBF also halted for a short while after the open when it was up 5%.
Not sure what is going on.
It is NOT in the shareholders best interests, Laxmi, if they have to pay $1.00 for the BIOT shares whereas they only had to pay $0.15 for the Cow Capital shares.
This is getting better by the day. But not really a surprise to me. Because that is what you get if you don't pay attention to what I am saying..
And I see major problems on the horizon for Cow Capital.
The solution is simple. Give them the extra BIOT shares for $1.00 or whatever, as a bonus. While retaining and honouring the original contract !!!
(I have no skin in the game here)
And my question? How is paying $1.00 for the BIOT shares in the shareholders best interests?
Yes, Snow. There is always a chance that you will get your money back when investing in a SPAC.
But... Cow Capital was going to be self-underwritten. And the target already known (Masala Capital).
I think the plan was to raise $600M+ including PIPE money, and acquire Masala for another $648M, resulting in 50% "dilution" of the stock.
I'm not sure what's in it. But it's the wealth management arm. It probably includes most of the assets and revenues that Interups has achieved so far. And it may have very good prospects going forward. That was the idea right? So the shares may very well be worth a lot more than $10 in the long run.
But like I said before, none of this is relevant. The people who subscribed for the Cow Capital shares are already entitled to receive those share, by law, regardless what happens with BIOT.
Irrelevant.
I think the law is pretty clear on this, Snow.
If the agreement states that you are entiled to 600 Cow shares for every $90 invested then... well, you are entitled to 600 Cow shares for every $90 invested. Geez....
As for the value of Cow, YES, I believe there may be a lot more value in Cow than in BIOT. But this is not so relevant. What matters is how many shares will be issued for the acquisition (the "price" paid). Unless of course, IT IS an issue for some of the investors who subscribed for the Cow shares. No judge is going to tell them what they have to accept if the contract is clear on this.
Don't think so Snow. Let the legal department take care of it. My guess is, they will have to send you a new contract which you then have to sign. And the people who refuse, well, they will get the Cow shares.
Your legal counsel probably won't let you issue those BIOT shares.
He's not stupid
You still have a legal issue here
If any shareholder (it just takes one) decides that $10 per share is.... erm.... not good enough and decides to wait for the Cow Capital shares, then you have a problem.
I recommend informing Likhitha/Kautilaya and/or the legal department and take action on this And Venkat may be interested as well.
I think you have a bit of a legal issue here
Are you sure about that? The agreement they signed says something different
ITUP shareholders will basically own a roughly 20% stake in every SPAC. And there will be a stock dividend if you recall. It should be similar for BIOT.
ITUP shareholders will also own a roughly 40% stake in the operating companies that will be merged with the SPAC's. Like Masala Agri Corp (will be huge) and many others, perhaps Masala Capital as well.
That's basically the setup.
The shares that you bought for $0.15 will result in a massive stake in Cow Capital eventually. That's of a different magnitude IMO. But you mentioned you own 9,000 ITUP shares too. So your stake in BIOT will be significant as well. Let's see how it plays out. It depends on a number of factors how that will be valued. But it;s going to be interesting for sure.
I just learned that Masala Capital will not be merged with BIOT. Masala is still planned for Cow Capital and will come later. They are targeting something else for BIOT and are working on that now.
Yes, but FINRA doesn't always do what they say they will do. We have seen many examples of that. It all depends on who is processing the dividend.
Well, here we go again. Two months from now we can all start wondering again what it is that FINRA is doing. And, they didn't give us a pay-date. Best not to get your hopes up.
Some people have too much money.
I will be one of them soon
Jet fuel is at $4.06/gallon today. = $170/barrel.
Crude is at $80/barrel. Less than half.
Seriously, you don't have to be a genius to make money here.
And the Going Concern warning is not even relevant anymore.
https://www.airlines.org/dataset/argus-us-jet-fuel-index/
Wait and see.
My guess is, some of my friends will buy up the entire float, sooner or later. Probably sooner.
I'm basically all-in now, with 20k shares.
We should see a $5 share price soon, followed by $10.
Could be more even.
Says $157/barrel here in North America. Up 28% on the week.
Crude is at $80
https://www.iata.org/en/publications/economics/fuel-monitor/
Btw, have you seen this? As of January 13. Jet fuel rocks in 2023.
https://www.iata.org/en/publications/economics/fuel-monitor/
Hehe. Of course I would take the whole plate.
My gosh, now they are starting with press releases too
They are fleeing like cowards again, when I hit the ask.
On the bid today for 3,000 extra shares.
Keep them coming.
Well, I wouldn't mind parking some of my money in that stock, is what I'm saying. Better than putting it in a bank.
Yes, container rates have come down substantially since the pandemic and prospects are not good near term. That is why the stock is so cheap, trading close to 35% of book value.
That's what I said, but he doesn't listen to me.
Options are cheap too. Don't know if it is the right play though wit the potential dividends. But it could be for the next couple of months until they announce a dividend.
ZIM is pretty cheap. You should like it. I can't see the share price go down from here.
Me too, when the market opens on Tuesday.
The nightmare continues. I told you.