Apr. 30 at 5:23 PM
$NEUP Email from from CEO 3 weeks ago (April 9) and my prediction for likely outcomes in order below:
"We have moved beyond the initial scouting phase and are now actively engaging with a shortlist of potential candidates. While we remain bound by confidentiality, I can confirm that substantive discussions are underway and we expect to have more clarity in the coming months.
Best,
Spyros"
1). Reverse merger w/ CVRs --> CEO email indicates multiple parties are involved which likely means negotiations for RM taking place. Potential PPS range is dependent on robustness and terms of the deal but I see it as anywhere from
$3 (shell+cash only) to
$15/share range, more likely to be in the mid of this range.
$3 is unlikely but still possible if terms of deal are not great. Downside limited.
2). Buyout . Lynx offered 4.75/share. Merck data due in Dec they may want to buy outright, or someone else. Range
$10-
$20/share if full buyout.
3). Individual asset sales and RM -->
$10-
$15/share
