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SPID3 vs [IRNM2]

Posted by: KalElFan (a.k.a del_TOM_KalElFan) on May 09, 09:38

So it's a $133.6M opening for [IRNM2].  By my calculations that'll be a $360.72 adjust and a $1,698,500 hit for those of us a full 50K shares long, plus another $61,600 tomorrow if you have 10K of the call option.  Easy come easy go.  Beyond that for IRNM2 including on the Warrant...

SPID3 had a bigger early May opening ($151.6M).  Its delist multiple of that was 2.01, and final box office multiple in August was 2.23.  If IRNM2 has the same multiples it'll be looking at a $268.54M delist and a final total of $297.92M.  I suspect IRNM2 will do better than SPID3 on these multiples, but I'm skeptical that in can do a whole lot better.


Tag(s): IRNM2





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