Monday, May 13, 2019 6:51:35 AM
My point was that the M&A pipeline is likely quite real and there are other opportunities for GS Capital to put money to work. They had to do due diligence on Verus and wouldn't commit manpower and resources if this were just a one-off $600k note. Not worth their time.
My hypothesis also lends credence as to why they accepted a way out of the money embedded option as part of the convert. Growth will lead to a much higher valuation.
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