Why would they roll it back? When the merger is done TRDY shares become "new Futech" shares the way I read it. But having said that, I do have the feeling that rollback may be the way to think of it.
378MM TRDY out. The purchase price is:
$3.0 million in "new Futech" shares (400,000 shares if I am reading the S4A correctly meaning these new shares are initially valued at $7.50 each)
$456,000 in cash
$800,000 + accrued interest in loans paid back
So would not the total purchase price be around $4.3 million for TRDY?
So with 378MM o/s the cash deal seems to me to be about .0113/share.
" Each share of outstanding stock of any of the merging companies immediately prior to the mergers, other than dissenting shares, will be converted into the right to receive a combination of cash, shares of New Futech stock and promissory notes of New Futech or New Sub"
The stupid Free Edgar link doesn't want to work here so I'll just type out the TRDY part of the chart from the S-4/A. Go to Free Edgar and type in Futech for the company name and you can get all the filings.
TRDY aggregate consideration is $456,330 cash, 0 NOTES, 400,000 COMMON SHARES, which is 7.1% of the total "new Futech" shares. Per share consideration is .0012 CASH, 0 notes, and .0011 common shares.
It all adds up for the five companies to $768,000 cash, $7.1MM in NOTES, and 5,598,000 common shares, of whatever.
Bottom line, I'd don't know, this document is like 87 pages long plus attachments.
So for the moment, I'm going with, TRDY is worth whatever the heck the current bid is. |
