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Sunday, September 08, 2019 8:27:58 PM
The % ownership is based on 'Total Value', and not per share value. Which means, if CHI is values at $1Bil., then LLBO will be worth $350M. Dividing $350M by the OS (1.7Bil shares) will give us a pps of $0.20.
CHI could be values at $1.0 Bil at $10 pps = 100M OS. That does not mean, with LLBO OS of 1.7Bil shares, we wil be given $3.50 per share. We will be given $350M for all of our 1.7Bil OS, which, in this example, becomes app. $0.2 pps.
The only way we would get $3.5 pps is if CHI also has 1.7Bil OS and has a valuation of $17 Bil., which would give a CHI pps of $10.00.
Hope this helps.
In any case, Long & Strong LLBO.
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