I asked the question below Friday evening and got no comments. What are your thoughts?
Regarding the merger, I know it's a reach, but I'm wondering if there are some details they couldn't disclose yet to help explain giving up 45% of the company?
Also appreciate if anyone can further explain the $25 mil. part:
The Term Sheet also contemplates that the Company may receive up to a total of $25.0 million in additional equity investments subject to financial covenants and performance-based metrics still to be negotiated and documented in the final definitive agreements.
1) I assume "the company", means the newly merged company?
2) Where is the $25 million coming from and how? Performance based? So if the new company "hits some kind of goal", "someone" will provide up to $25 million and receive a bunch of stock? Maybe from Frost?
3) Are they saying "there's a chance" (dumb & dumber line) for a major investment?
Anyone have an understandable example?
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