CDH, there's only been a $0.04 swing in GXII share price this week after the announcement of the EXIM L.o.I., so I am not sure there were heavy positions of arbitrageurs in this one to start with... which should bode well for the redemption rate following the vote next week! GLTAL AR.
I checked my broker and I believe the redemption election has been extended until 3/16 after the merger vote on 3/15. JMO from the information I found. Please do your own due diligence as my dates may be off.
I don’t believe that redemptions will be an issue. Even if 25-30% of the GX shareholders redeem, NioCorp gets $200+ million. And 25-30% redemptions also means that NioCorp gets 25-30% less dilution. Also the founders and their board want this deal to happen and they control a lot of stock.
As long as the GX shareholders vote a majority (50% of the votes cast + 1 vote) to accept the deal, then NioCorp gets:
- Lots of cash. - Listing on Nasdaq. - Institutional Investors. - Additional proceeds from the exercised warrants. When they are in the money that should bring an additional $100+ million. - NioCorp gets to start construction.
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