At the sixth time of asking since the first takeover bid from Soprano came through, Whispir has confirmed that further substantive discussions with other parties have ceased, and the board is now unanimously recommending that shareholders accept the Soprano offer. Mr. Jeromy Wells has also changed his stance and will accept the offer on the table.

Overall, a pretty pedestrian outcome for ordinary shareholders, but it's better than languishing at the bottom I guess.

Happy New Year to all the Straw people, and hope you are enjoying your holidays so far. I'm back to work unfortunately.

There's been a fair bit of activity here during what is supposed to be a quiet period.

Soprano has since tabled multiple revised offers, first at 52c and then at 55c. The latter has actually gotten a recommendation from the Whispir board, so that's interesting because Pendula has also upped its offer price to 60c - the board is clearly not looking at the conditions attached to the Pendula offer favourably.

For any holders or interested watchers, what would you do? The market price is hovering just above the revised Soprano offer (which seems final, finally!), like it did when Soprano initially came in with their 48c offer.

P.S. Founder and major shareholder Jeromy Wells is not recommending the offer as it stands, as he is not part of the IBC which is evaluating the offer.

Weak second hand played by Soprano.

Knowing that there is another bidder who is prepared to pay a premium, they have not changed their $0.48 offer in making it unconditional today. They are also trying to sell it via an early (T+5) settlement for the early bid accepters.

NGMI :D

Quite an eventful day for Whispir.

First up, an announcement was released by the board rejecting Soprano's bid. As part of that, the indepdent valuers have placed the value of the company at $0.4859 to $0.5649 (the precision to the fourth decimal is in itself some sort of "flag"!).

Then, a "letter of intent" was filed indicating that another party, "Pendula" (trading under Zip Cloud Pty Ltd) intends to lob a bit that is at a premium to the current $0.48 bid from Soprano.

Good to see another party emerge out of the woodwork - existing holders can hope for a bidding war to squeeze as much out of this particular lemon as possible.

TLDR - Muted operating performance, but the decision to fold up in the US will accelerate the push towards profitability - also a good move given their track record there and the inherent difficulties breaking into that market.

If management can hit their longer-term targets (>20% revenue growth, gross margins > 65% and EBITDA margins > 20%), there is value here - but that comes with a large degree of uncertainty.