Swift Energy fka SFYWQ

[liverless]

Look again. There are 44.6mm shares outstanding, so at $0.2 that is $9mm value, which at 4% of equity implies market is giving the entire new equity a market cap of $225mm

EV is $225mm + $324mm of bank debt so $550mm

For that $550mm they had Q3 EBITDA of $23mm, so 5x EBITDA, and 16,000 per flowing boe

These aren't unreasonable metrics.

The kicker is the existing common gets warrants for 30% of total equity which is a lot, but I do not see any info about what that will be priced at.