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Tom

Research Analyst at MFF

Tom is an Analyst at MFF, specializing in equity research with a focus on key sectors such as technology and consumer goods. He covers major companies including Apple, Microsoft, and Tesla, maintaining a strong performance record with a success rate exceeding 65% and consistently generating positive returns recognized on platforms like TipRanks. Tom began his finance career in 2016 at JPMorgan before joining MFF as an Analyst in 2019, where he rapidly advanced due to his analytical rigor and market insight. He holds FINRA Series 7 and Series 63 licenses, underlining his professional credentials and commitment to industry standards.

Tom's questions to LGL GROUP (LGL) leadership

Question · Q4 2020

Tom of MFF asked for clarification on The LGL Group's investment in its sponsored SPAC, initially believing it was only in warrants. He also sought to confirm his valuation framework, which combined the company's cash balance with the estimated $15 million value of the SPAC investment at $10 per share.

Answer

CFO James Tivy explained that The LGL Group invested in the SPAC sponsor entity, which holds both B shares and warrants, thereby taking on the full risk capital for a commensurate reward. Tivy affirmed the valuation approach, confirming the value includes the $24 million cash balance plus the ~$15 million gross value from the IronNet SPAC deal, and also pointed to additional value from NOLs and the future SPAC franchise.

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