4walls, i have no idea what the 'market' rate for this sort of capital is .... I have done plenty of senior, sub and mezz debt, I've even provided some seed myself. What I do know is that a fee for underwriting is usually reflective of the risk in getting it away ...... What exactly does Max Capital have to do to get it away? Zilch, nothing, nada, zip. One phone call to one investor (who happens to be a major holder and major holder of unlisted oppies) - that is all. They should be doing it for nothing or at the very least, BPO should bypass MAX altogether and just go to the investor/s. They know who they are for god's sake!!
Do they think everyone is completely stupid? the writing was on the wall ages ago. I said a few times, buy the heads but stay away from the oppies. I called it as I saw it and got it right. :)
it stinks and people have been shafted due to the greed of a limited few.
so how much is MAX Capital getting in potential dollar value? How valuable are those unlisted oppies going to be? Who stood to be diluted if the oppies got exercised with the heads legitimately in the money?
BPO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
