Lets not be paranoid about dilution or someone "stealing the company". They (RSP)all have their big nickel in like the rest of us, and unless there is something Richard was hiding from the market place it is worth about 98 cents per share. You can fill your boots at that price, and it does not appear it will go much lower if at all. So, buy now, it will likely be less than the next PP, which won't be for quite a while. If you think they will force it down to 25 cents for example, just wait, fill your boots and share the ride up. Since they have the latest and greatest money in the ring already, it seems to me their main concern will be to maximize value to a potential strategic buyer, then SELL. Sounds really good to me, and I hope they are able to get all their money out eventually times ten.
The last time I felt really shafted on a deal was a small popular restaurant chain that was taken private at an unrealistically low price . The family really jerked everyone around with the help of a couple of institutions. But I cannot find any parallel in NOT , mostly because none of our major shareholders could have any motivation to take this private. Totally not in the cards. So, "their" best course and exit looks exactly like "ours", that is develop it with available funding sources to the maximum/point of value inflection then sell. If that meant carving off Windfall, or spinning it out, great, do whatever will maximize total value with relative minimal risk that is balance risk and reward to maximize return through a sale. Pinetree for example will not allow the opportunity to escape or be squandered, and this deal hopefully will be the flagship they need to get their own stock back on the rails. We have all been victimized by the credit crisis, and new strategies going forward will require a broad perspective.
