Nov. 22 at 3:03 AM
$ELEMF today’s filings: the
$EMX board exercised all their options, as expected. Based on my back of napkin math, with the fully diluted pre-merger share count of 121m EMX (including all warrants & options) the 933MM deal valued EMX shares at
$3.77 (x .2822 multiplier would be
$13.37 for ELEMF) because remember EMX took 49%, Elemental took 51%…
(Bear in mind, Tether bought 31.2% at ~
$13.33)
This is now trading at a DISCOUNT to the Tether dilution. Huge arbitrage opportunity, imo…
I think there’s just no buy-side volume to prop this up due to us trading OTC until the SEC approves the merger listing (due to delays from the GOV’T shudtown…)
I’m currently funding an IBKR account in order to buy OTC and take advantage of this arbitrage opportunity!!!
@ARMRreport I know I suggested this to you once before but I will do again one last time because I truly think this is a gem during this RISK MONITOR RED environment!!!