AI
Friday, June 09, 2023 12:34:20 PM
With all due respect Z, replying to ur msg.
ANEW merger with LEAS was ANEW shares converting into LEAS preferred B shares, which in the merger agreement between LEAS and ANEW, would automatically convert after the proposed RS to common shares to pay for the merger. There has been a hangup with FINRA about name change and reverse split being granted.
In my opinion, you will see a name change and RS shortly here. The reason they gave this a $60m valuation was all of the RS, and conversion of preferred already baked in. @ current PPS, .005 x 2500 would be $500 million cap here with preferred converting. So they hamstrung this @ $60m valuation so regardless if market cap is higher, current LEAS shareholders would only receive $60 m valuation. I am sure they are propping this up so they can wash who they want out first.
ANEW merger with LEAS was ANEW shares converting into LEAS preferred B shares, which in the merger agreement between LEAS and ANEW, would automatically convert after the proposed RS to common shares to pay for the merger. There has been a hangup with FINRA about name change and reverse split being granted.
In my opinion, you will see a name change and RS shortly here. The reason they gave this a $60m valuation was all of the RS, and conversion of preferred already baked in. @ current PPS, .005 x 2500 would be $500 million cap here with preferred converting. So they hamstrung this @ $60m valuation so regardless if market cap is higher, current LEAS shareholders would only receive $60 m valuation. I am sure they are propping this up so they can wash who they want out first.
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