Sep. 10 at 7:19 PM
$ASBP Lakewood is important
This is something I would absolutely factor into the ASBP valuation.
Lakewood gets 15% of Dura.
The agreement says that Lakewood’s put valuation is based on Dura EBITDA, adjusted for debt, and its put can be exercised at a 15% discount to the implied equity value.
So ASBP common shareholders don’t economically own 100% of Dura.
They own approximately 85%.
And they won’t tell us the actual debt they received
