W Capital, the independent financial advisor to the privatisation offer of Ossia International said on June 18 that the offer is “not fair” but “reasonable”, as the fair value ranges between 24.6 cents to 28.8 cents per share.
Even then, on balance, W Capital has advised minorities to accept the 16 cents per share offer, a premium of 41.59% over Ossia’s last traded price.
On July 8, the brothers extended the closing date after receiving only 87.32% of valid acceptances of the offer. The final closing date is now Aug 1.
Shares in Ossia International closed 0.1 cent higher or 0.613% up at 16.4 cents on July 16.
