Dec. 29 at 11:54 PM
$TTOO idk why we’re making this so difficult
CRG is still owed ~
$10 million on top of their equity stake
So common shareholders get whatever value is left over after
$10MM goes to CRG 1st
So if T2 is sold for
$100MM, common shareholders would realize
$90MM in valuation divided by total outstanding shares (~20MM)… which in this example would be about
$5/share
CRG’s equity cost basis was last reported to be around
$3-5/share after their back-to-back debt for equity swaps