Dave does the sums...1 Oct 2023 18:22
"It is much better value to buy the actual shares!
At 4SEK per BTU you are actually paying 2 SEK for each warrant but then have to pay an additional 14.24SEK for T04 take up and another 16.61SEK for T05 take up as opposed to 8SEK/share!"
Someone else needs to check Dave's sums and my, more than likely, interpretation of them.
Now previously I got the impression that in order to bale out Wyld from their cash shortfall. I am calling it that. In my mind there was a major back order disruption when they linked up with SpaceX because, again my view, they had to re-roll their product prior to shunting it out of the door.
Mr Swann, our mysterious benefactor, and the other two got a sweet deal in order to pony up the initial cash to bankroll that one. 4SEK per share on the present share price of about 8SEK according to Dave's sums. However, and they may be playing Catholics given they have the opportunity pull out, when it comes to the warrants, again according to Dave's sums if they do take them then they get backended at 30SEK for a total of 34SEK per share.
Now, obviously.
Mr Swann, and the other two are going to be insiders so they will know more than us proles and as suggested if they do not proceed with the warrants they will still possibly end up with 'free' money so, for them, why not take a punt?
I would like to think that despite it being a dog eat dog World if you pull a stunt like this your reputation would be permanently flushed down the toilet.
Now we know Mr Swann has had previous with Tern. During the end of 2022 he ended up with 5% of the company. We also saw the SP rise during and just after that time. Then, because this is Tern, it dribbled back down to the doldrums. Now, either Mr Swann is a smart investor with a lot of spare cash or.... something else.
We get the same with his latest punt, CHLL, Chill Brands. Mr Swann snaffles 10% of the company mid April this year. The SP takes a rise and then goes silly before dribbling back down into the doldrums. Again Mr Swann is a smart investor with a lot of spare cash or.... something else.
BTW this is all my opinion but based on the above I would be inclined to take a view that Mr Swann is not really that smart. He just has a lot of spare cash. Let's hope Mr Williamson cares more about his own reputation.