Member Info for Okehurst1

Mouldy nicks over £700M off them which is used to grow the business, the company issue the shares, him and his new besty then carve up Softtouch bank and gobble the lot up at a fraction of the cost

You have to admire the deal making skill of these dual transactions

That doesn’t include FX losses of over $6B in the Qtr

Eye watering losses, $17B Q2 2022 - that’s just 1 qtr

M/man

This may help understand SoftBank a wee bit, desperate for cash, good for Qatar and Mouldy though

https://www.livemint.com/news/world/softbank-pledges-sweeping-cost-cuts-after-23-4-billion-loss-11660020880599.html

Bad timing on their part

Yup same guys KKR made a nice turn at IPO back in the game

Contd

‘With share prices plunging, private equity groups are aggressively circling newly public companies as potential buyout targets, several Wall Street executives said. And some corporate boards have been receptive.

“When you think about the amount of private capital that has been raised that hasn’t been deployed, then look at how public equity valuations have re-rated, it feels like it’s going to be a natural pairing up,” said David Bauer, who runs equity capital markets at KKR, the investment group known for its private equity business’

Paywall
Interesting article in FT today

https://on.ft.com/3eIhWQ7

‘Three-quarters of large US companies that went public during the pandemic bull market are trading below their offering price, forcing some once-promising names back into private hands at fire-sale valuations.

Of more than 400 listings where companies raised at least $100mn between 2019 and 2021, 76 per cent are below the price at their initial public offering, a Financial Times analysis of Dealogic data shows. The group’s median return since their respective IPO dates is negative 44 per cent’

The laggards include such-hyped stocks as Robinhood Markets, Lyft and DoorDash, all of which went public during a market boom that ended in late 2021. The Nasdaq Composite index that contains many growth companies has fallen 32 per cent this year.

Fair comment on market fundamentals, we are in play

Suggest this is where THG shares sit today

Nice debate

Let’s hope it is £2 that would be amazing

Either way this is a one way bet for us PI’s, sit tight as the Shorts trade their way out and push the price higher

Think we all knew Mouldy as the experienced deal maker he is would pull a rabbit out of the hat

When will the 4% disclosed shorts bottle out?

They have be looking at this now and thinking the risk / reward is against them

IG knew the score before we did, they can see the other side of the trade.

The short squeeze will be brutal

Moulding would just say ‘ conditions have changed ‘

Think we get a bagger plus from here and I would love £1.80 but him and his partners have no need to pay us more than they can get away with

Either way it’s good news for us PI’s, one way ticket from here

Think we can say with some confidence a bid is being lined up to take us private

No idea what the final price will be but it’s a bagger plus from here

Hi Timster

Why not wait until after Ava results? Then raise ?
Use that cash for therapeutics.

Not borrow £52M via convertible to enter diagnostics market

Personally I would have preferred to focus on Therapeutics

Get Ava6000 over the line next month, raise if required on the good news, work on Ava3996

That makes sense to me

Why make this transaction now ?
Add £50M plus of convertible debt to go back into Covid Testing

Just focus on what we want them to focus on … therapeutics

‘The Convertible Bonds will be issued at 95 per cent. of their principal amount, have a coupon of 6.5 per cent. per annum and amortise quarterly at 5 per cent. of the initial principal amount, payable quarterly in cash or new Ordinary Shares at the Company's option. The initial conversion price for the Convertible Bonds will be set at a 25 per cent. premium to the Offer Price (the "Initial Conversion Price"). The Initial Conversion Price will be subject to customary adjustment provisions, and will be subject to one reset on the date falling 18 months after the Issue Date (to a price no lower than the Offer Price (as adjusted pro rata for any subsequent adjustment made to the Initial Conversion Price)). Following any downward reset, the conversion price may reset back upwards to the previous conversion price if the daily VWAP on each of at least 20 trading days in any period of 30 consecutive trading days in the nine month period following the reset date is greater than 130 per cent. of the Initial Conversion Price.

A summary of the principal terms of the Convertible Bonds is set out in Appendix II to this Announcement’

Citedal and Marshall messed up big time extending their short on the 14th October, their margin call must have hurt

Almost known 4% need to close, plus unknowns on top

The inner circle including Iain Mc who knew about the trade would have closed their synthetic shorts through their varies entities, as such IG / others saw the move and pulled out the market for new positions

‘None ‘pals of Mouldy - plenty of them - who have shorts must now be worried they are going to get squeezed

Guess they will be waiting to see if we get a pull back to close out, but the writing is on the wall for them.