I am assuming insiders are not restricted from trading at this point.
in looking at the Twitter post the conclusion states "further development warranted"
I cannot find the article from the Twitter post online elsewhere.
Have I missed it at the VSTM website or elsewhere?
The announcement of the retention of a financial advisor was not until Jul 29th. Assuming this was not a delayed announcement, it has been less than 30 days. I would expect the advisor to take 60-90 days. IMO special committee was somewhat slow to hire advisor.
Good to see the 7.8 million termination fee was not waived.
Why was payment of the fee deferred until October? Many on this board seem to suggest the company will soon need to raise capital. Could not the capital raise be postponed if the fee was paid now? Sillerman recently has provided capital in a way that spooked markets - why not pay the fee promptly and avoid/defer any capital raise..
Is Sillerman going to try to negotiate the fee as part of a deal? Or is he going to try to get out of paying it completely?
The Board lets Sillerman out of the Merger Agreement without a termination fee? Is this based on a material adverse clause or simply market fears that Sillerman could not get funding? Who's side is the Board on - Sillerman's? Are there any legal experts who can opine on whether the Board should have pressed for a termination fee?
So they could try to put a deal together over the weekend and announce it Monday and not violate any filing regulations? On July 27 the company indicated it had interested buyers for parts of the company. The July 30 press release mentioned the deal would close unless an alternate transaction was proposed. Are they working on dividing up the company or I am I being too optimistic?
Cash was credited to my account March 23. My broker was accumulating shares and submitting a batch every couple of weeks to reduce the fees they had to pay.
When did you submit your info? Was it though a broker?
The July date was the date you had to submit by to get paid. If you did not submit in time there is a different process to get paid.