Can the seller back out of the deal because of the drop in Revenio’s share price? The announcement on April 13 states that €55.7 million of the €250 million purchase price will be paid with 2,485,707 shares. That equals €22.40 per share. Yesterday’s closing price was €14.18 per share, so the purchase price has dropped by over €20 million. The AGM has already been convened and the board is seeking authorization for 2,485,797 shares, so they cannot issue more shares to the seller. Have I understood this correctly? The announcement also mentions a 12-month lock-up for the new shares.
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