Why is it you guys believe the bank would lose money on a 25M loan to SSN in the event of a default?
Current valuation means anyone who buys this stock is paying around 50M for the company.
The bank, in the event of default, gets 100% of SSN's assets for 25M - if the loan is fully drawn.
So if you think SSN is worth 50M and will go up from here, how would the bank lose money if it acquires SSN for 25M?
Either SSN is not worth 25M, so the bank would lose money, or SSN is worth more than 50M and the bank would make money in a default.