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mick

11/24/21 1:51 PM

#236825 RE: mick #236824

courtesy of $payo Payoneer has a $450 million cash balance placing the enterprise value at only $3.15 billion. The stock trades at an EV/S multiple of 5.6x.

The warrants won't change the EV equation due to the cash portion of the warrant exercise. Any further share dilution doesn't occur until the stock tops $15.