Replies to post #550 on Bergamo Acquisition Corp. (BGMO)

[Modern_Rock]

Who is the financier/lender then? Where is the $1.5B coming from then?

"The financing is for a term of seven years at 2.5% per annum and with an up-front cost of 8% which is payable upon delivery of the funds into a Certificate of Deposit in the designated Pakistani bank into the account for the lender."

There is an up front cost of 8% that needs to be deposited. Crazy to say that the 8% fee will be from the $1,5B financing. That's like getting a 0% down payment mortgage with fees added to the mortgage. No way.

This is only a term sheet they got and not the credit line approved. I think you misread this. Yes the pr is super ambiguous and confusing. BGMO needs to come up with a significant amount of cash first. No one just gives you $1.5B if you have no collateral. Just try walking into your local bank and asking for just a $1M business loan and see what they say...

[Rawnoc]

"Once Bergamo Acquisition Corp. accepts and signs off on the funding, the deal will be closed and will fund within 30 days as required in the Agreement."

Looking good!

Of course the up-front costs payable UPON closing are the.....closing costs, which come out of the $1.5 billion. So the financing amount left is $1.38 billion which is still pretty big!