did you take into account the 20m warrants outstanding that will be exercised by Nov 2023 (they're at $11.50 so not as dilutive as penny warrants but it does impact shares o/s even in net settled)? And what about the 5m additional earnout shares to be paid to Platinum if the stock hits $18 and $20.50?
Seems like it's fairly valued then. $31 price target discounted back at 15% gets you to ~$17. So 5% above current. Good business, but px already reflects it based on your projections
enjoyed this great write up! how do you factor in the SPAC promote in your out year price targets? should it trade for a lower multiple vs. peers since they have to pay out 20% of the gains above $10? Thank you!
did you take into account the 20m warrants outstanding that will be exercised by Nov 2023 (they're at $11.50 so not as dilutive as penny warrants but it does impact shares o/s even in net settled)? And what about the 5m additional earnout shares to be paid to Platinum if the stock hits $18 and $20.50?
Seems like it's fairly valued then. $31 price target discounted back at 15% gets you to ~$17. So 5% above current. Good business, but px already reflects it based on your projections
enjoyed this great write up! how do you factor in the SPAC promote in your out year price targets? should it trade for a lower multiple vs. peers since they have to pay out 20% of the gains above $10? Thank you!