MMATF - Torchlight Energy Resources: SEC Filing Indicates Some More Potential Downside
- Torchlight's SEC filing includes an opinion that its equity would be worth $83.5 million to $161.4 million with the Metamaterial deal.
- This translates into $0.57 to $1.11 per share with 145.3 million shares outstanding.
- The oil and gas asset component of that value may be outdated due to the rise in oil prices since mid-December.
- Adding 60% to the value of the oil and gas asset component to reflect the stronger market would contribute to its estimated value increasing to $0.74 to $1.52 per share.
- This also assumes that Metamaterial can achieve its five-year financial projections after the business combination.
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Torchlight Energy Resources: SEC Filing Indicates Some More Potential Downside