Aug. 31 at 5:44 PM
FYI -- Purportedly, a few weeks ago Papaya offered
$310M (approx 43%) to FIRY to settle the
$719M award ... however, FIRY is looking for a minimum of
$500M. Both Parties walked away and Papaya filed with the Israeli Court to convene a Creditors' Meeting to get guidance on creditor payments. The Court denied Papaya's Request and established an 'Arrangement Manager' who will actively pursue Papaya directly for the transfer of
$ASSETS to FIRY. Very good news for FIRY knowing that Papaya has the wherewithal (offered) to give FIRY shareholders a settlement worth
$19.87/share! Another minimum of
$20/settlement monies (fully tax shielded via carry-forwards) + current cash balance bring liquid
$CASH to over
$30/share. Yet, current share price at
$9.75? We're obviously arbitraging this "imbalance" !!!