velibior
Sep 18, 12:51 PM
$SRTA 🚨 SRTA: this went almost completely under the radar!
On September 10, Joby issued 2,419,801 shares to Strata following the achievement of the former Blade division’s EBITDA milestones.
And here is the interesting part: based on the VWAP formula in the agreement, that share count corresponds almost exactly to the maximum
$17.5M earn-out!
At JOBY’s September 10 market price, those shares were worth roughly
$15.3M, while contractually they represent approximately
$17.5M of value received.
Strata has not yet shown the settlement in its Q3 results because the event occurred after the Q2 reporting period.
Another piece of the Blade deal turning into real value for SRTA — and almost nobody is talking about it.
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