Haven't done a deep dive into SPA and their competitive advantage, revenue generation potential, etc. The following thoughts are only applicable under the assumption that the project is worth absorbing, and would likely mirror my sentiment for any tender offer:
- A fairly long vesting schedule. A year+ would not be inappropriate.
- Get rid of the $500k dev incentive. Buying SPA at a premium should already carry that benefit for them.
Sounds like it's time for a live AMA with both sides…