" #$%$ "? The spac unit was priced at 10. Common and warrants are worth about 18 1/2. I wouldn't call it a #$%$
I don't think it was a secret they'd raise money at some point. Raising 165 mil at a price of 14.25 is pretty impressive. And they didn't "distribute" the ownership - It was paid for with real cash.
So far these guys are superstars.
If you own 1000 common you own 1000 rights. You can sell the rights. If you sell at a nickel for instance, that's $50 minus the commission. Or you can call your broker and exercise. You'll buy 250 at 5.
Ok who knows what limelight's appeal means in dollars? Is this the 45 million that was that was overturned?
What would a win mean for limelight?