Elah Holdings Inc fka RELYQ (ELLH)

[EM]

Is that just a coincidence?

1. 210/Goldman Sachs will buy 49% of new issued shares for $17,5mm.
The shares of New Common Stock that shall constitute 49% of the New Common Stock issued and outstanding as of the Effective Date (on a fully diluted basis), to be issued by the Reorganized Debtor and purchased by the SPA Investors pursuant to the SPA in exchange for the SPA Purchase Consideration. 49% of the shares of Common Stock issued and outstanding as of the Effective Date (on a fully diluted basis) is expected to be 725,812 or 907,265 shares, depending on whether Class 5 votes to accept or reject the plan, respectively.
So based on new O/S of 1,481,250 (or 1,851,563) and $17,5mm price paid by 210/GS:
- if new issued shares will be 725.812: they will pay them $24 per share
- if new issued shares will be 907.265: they will pay them $19 per share

2. https://www.sec.gov/Archives/edgar/data/38984/000155837018002665/ex-99d2.htm pag. 2 " preliminary interest" they state "Class 5 Allowed Common Interests will receive an estimate recovery of $0.19-0.24/share. The high range recovery estimate is based upon Class 5 voting to accept the Plan, thereby retaining 20% of New Common Stock, valued at $7.1 million based on a current total share count of 29.8 million. In the event that Class 5 does not vote in favor of the Plan, Class 4 will retain 35% of New Common Stock valued at $12.5 million; Class 5 will retain 16% of the equity in reorganized equity valued at $5.7 million. Class 6 Allowed Warrant/Option Interests are not estimated to receive any recovery under the Plan".

So $0,19 to $0,24 recovery for us class 5 shareholders based on current O/S of 29,8mm and $19 to $24 for 210/GS based on new O/S 1,481,250 (or 1,851,563).

Thoughts appreciated.