Mar. 3 at 7:20 PM
$NEUP Here are my predicted likely outcomes for the strategic process (in order of likelihood imo):
1). Reverse merger w/ either asset sales or CVRs , or combination of both. This would mimic a similar deal to what
$RLYB just did. However,
$RLYB had a better cash position so the price movement in this option will depend entirely on how good the terms of the RM are.
--> -30% downside risk for a potential 2-3x upside.
2). Buyout. Lynx1 group offered 4.75 for the entire company so there is precedent for it. The BOD rejected this offer because ...
"Simply stated, Lynx1’s non-binding proposal does not present an attractive value, and certainly not one that would compel the Board to consider abandoning its ongoing strategic review process – especially given that the Company has already received a substantial number of competing indications of interest, with nearly a dozen that have already advanced to NDAs and separate process letter proposals. "
--> 2x minimum, 3-4x possible
