Hycroft Mining Holding Corp (HYMC)

[LouisDesyjr]

Total number of shares

I did make an assumption of Newco shares being equal to existing number of shares to show the calculations; but only to determine if the trade is profitable or not. The number of shares in Newco does not matter for that.

If you look at the calculations, the important part that does change the profit/loss on the trade, is the 'Adjusted Equity Value' and the percentage the warrants have in the Newco.

The ratio of number of Newco Shares to existing common shares, only changes the amount needed to do the calculation so one can compare the cost today with what they can expect at the end.

If Newco is more shares than 126 million, then the strike price of the warrants will be lower, if less then the strike price of the warrants will be higher; but no matter what this ratio is the profit/loss on the trade will stay the same.

Louis J. Desy Jr.