Egan will be left with just a little bit more than 22 Million shares after the closing.
It is unlikely that the shares will go to $20 as that would imply his ownership in a shell was just as valuable as his successful business.
If he gets $0.20 that would mean he gets roughly $4.5 Million which is decent.
$0.02 and we would get $450,000
Let's be honest, it's not likely that Delfin would gift 25-30% of a billion $ company to random people. 1-3% is more reasonable.
I say, A reverse split and stock issuance valuing shares on a pre-split basis at a high of $0.20 is possible with $0.02 on the lower end.
Anything more is ludicrous.
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