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Description:
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Ian Bezek from Ian's Insider Corner discusses the most interesting event thesis I've seen this year: buying RenRen (RENN) into their legal battle over the OPI assets.
Ian's original RenRen write up: https://seekingalpha.com/article/4406707-renren-shareholders-claim-huge-sofi-stake-via-little-noticed-legal-fight
Ian's Twitter: https://twitter.com/irbezek
Chapters
0:00 Intro
1:05 RenRen Overview
2:25 How Ian discovered RenRen
3:50 OPI transaction background
6:40 Discussing OPI's valuation
8:15 Oasis (the lead plaintiff) and the attempt to reclaim value
9:45 Laying out the event path
11:45 Who would pay if Oasis / minority shareholders win?
16:05 What is the legal precedent here?
18:35 Quantifying the upside
21:50 If we win, what happens to RENN minority shareholders?
23:55 How SoFi getting adding as defendant changes the lawsuit
29:05 Does Chamath's history at CLOV impact the timing here?
32:00 Could RENN go into bankruptcy to void the lawsuits?
34:10 Valuing RENN's other assets
36:15 Closing thoughts |
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