Aug. 4 at 5:36 PM
$LSTA PR today is in line w/ expectations of companies next steps. Proceed w/ litigation as discussed in previous filing, put pressure on Kuva (who is still actively working on funding) while proceeding w/ a secondary strategic alternative process likely looking for merger candidates.
Option A).
Kuva returns with FULLY FUNDED tender offer in 2.50-3.50/share range upfront --> LSTA accepts--> Stock pops--> Lawsuit dropped.
Option B).
Kuva does not return with offer, or returns with sub-par offer that LSTA rejects (i.e.
$1/share range). --> Lawsuit proceeds --> LSTA finds RM candidate (5m in net cash + 5-7m in NASDAQ shell value puts deal value at
$1.10/share MIN, w/ no value given to legacy assets).
CFO is employed through Dec31 2026 so any deal will likely come months before then. Win-win solution either way imo.
