SeaChange International, Inc. (SEAC)

SeaChange International Chairman Robert Pons Resigns
07/15/2022 04:29PM • MT Newswires
04:29 PM EDT, 07/15/2022 (MT Newswires) -- SeaChange International (SEAC) said Friday that Robert Pons resigned as chairman of the board, effective Tuesday.
The company has appointed Chief Executive Peter Aquino to also serve as chairman of the board.
Pons' departure did not stem from any disagreement with the company

Even though the deal termination was "mutually" agreed, I have not yet seen any confirmation that there will be no transfer of termination fees between the two parties. There was very little for SEAC to do for their part of the deal; rather, I think Triller stood no chance of obtaining the financing they needed for their part - quite simply, they grossly overvalued themselves and very few knowledgeable people accepted their value proposition. What we learned is that SEAC was/is worth $2.35 a share and management believed that to be a fair valuation. Arguably, the company is in a better condition today than it was at the back end of last year. The "collapse" of the Triller deal essentially puts the company "in play" with the message that $2.00 to $2.50 a share, at the minimum, will close the deal. For many of us, this would be a somewhat disappointing end to a company with an extraordinary history and excellent prospects in a red-hot technology segment. But then, it's also time to move on so I will welcome a more traditional deal in the coming months.