optiejunky schreef op 24 januari 2022 17:39:
was een dagje wel!;
hier nog een leuke verhaaltje op yahoo;
***Wolt Acquisition DOA***
While I'm at, based upon an analysis of DASH's regulatory SEC S-4 filing, it is highly likely to virtually certain that the Wolt acquisition will not be completed due to the material effect that DASH's drop in share price.
Total consideration of USD $8 billion was calculated @ USD $206 per share requiring approximately 39,000,000 DASH shares to be issued to Wolt.
This is where the math gets interesting.
According to SEC filings, as of November 2021 when an agreement in principle was reached between the parties, DASH only had approximately 30,000,000 shares available to finance the Wolt transaction, leaving a roughly 9,000,000 share shortfall.
But now that DASH is trading around $130 (I'm being generous, so sue me), the value consideration adjustment provisions in the S-4 will now require DASH to tender approximately 61,000,000 shares to Wolt leaving DASH approximately 30,000,000 shares short.
Do the math. The Wolt deal is almost certainly dead which raises a couple of very important questions:
1. what effect will the collapse of the deal have on the future performance of DASH stock;
2. What does the S-4 termination provision verbiage say about DASH's failure to complete the transaction?
With respect to the former, it depends (I'm sorry guys, but I can't be more specific than that.) I can only say that I do not view it as a positive given current market sentiment.
With respect to the latter, that scenario is addressed with specificity and is clearly delineated by verbiage in the S-4 which provides for a termination fee of approximately USD $200 million to be paid by DASH.
You're welcome.