There are four components to the loan. The interest rate, the dilution, the conversion strike price, and the cap call cost. That's how one determines the total cost. But if you want to continue to say brilliant, that's up to you. If someone says I will buy your house and refinance your outstanding mortgage for 1.25%, but will pay you $300,000 less than market value, would you say what a brilliant transaction? That's my finance lesson for today.
They indeed needed to finance and expand, and the SP is beaten down because of the sector, so there is a buying opportunity.
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