$PSTH as many said it’s 3-1 so here’s to help you breakdown your original 20 mag: 14.75 is your ipo price to UMG. If market believes valuation is say double what we secured (40b usd), the value here is 29.50. 5.25 is your remaining nav for PSTH which if like before, trades at a 20% premium, is 5.3 Free rights to the future entity. This got to have some valid. Note, rights and warrants are both tradable on exchanges. I don’t know what value this will be. So, I think we are good.
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