Deal hold up12 May 2026 14:17
Read this on a different board from early April, helps explain the lack of progress for the deal.
The 14% of Falcon shares belonging to the sanctioned Russian citizen amount to approx 156M shares. They apparently were not included in calculating the value of each Falcon share based on the cash that TBN was putting out. The court approved the deal but in essence told the parties figure out how the 156 M shares are addressed. The expectation is that one day the sanctions come off and the guy/company get back their shares.