Only problem is that the new options have a 5 year duration, not a few months - so potential for them to annoy us for a while. Options can be a bit of a drag. On the flipside, there is less likely to be a mass dump of shares from exercised options in the near term. I could plausibly see them dribbled out over a period.
I still think it's too generous, but I'm not dying in a ditch over it.
Debt and equity deal, page-7
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