In some sort of mental breakdown, I checked in on how Raketech is doing. The latest quarterly report fell slightly short of expectations, which isn’t the worst thing in the world—except that the company has earn-outs worth over 20 million euros maturing in March 2028.
I couldn’t immediately make the math work on how they plan to pay that with their current earnings power, and my motivation for further digging ended there. An equity issuance (rights issue) is presumably ahead, as it’s hard to believe any assets could be sold at a good price within the next couple of years.
The Japan trip was a downright legendary expensive deal for the company, a real shame.
If anyone is still following this case more deeply, feel free to correct me.