Bookrunner flexibility could raise conversion price, Richard Byworth notes

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12 hours ago

Bookrunner flexibility could raise conversion price, Richard Byworth notes — Conversion price and mNAV in focus

Richard Byworth, former CEO at Diginex/Eqonex, said he would like to see the conversion price set clearly above a 1x minimum net asset value (mNAV) when reviewing transaction terms.

He noted that the language in the document specifies an mNAV at 1 or above. Byworth also suggested that any flexibility left in the terms appears intended to allow adjustments based on market demand, enabling the bookrunner to potentially set a higher conversion price if warranted.

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Byworth has previously scrutinized transaction costs, including his analysis of a 12 percent fee on bitcoin purchases via a CryptoNow card from the Swiss Post Office. He was also a subject of criticism after predicting a new crypto all-time high this year. These prior comments reflect his ongoing attention to transparency and valuation in crypto-related offerings.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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