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SENASTE
Redeye adjusts our near-term forecasts and our valuation following the Q3 report and the recent share issuance. We notice clear signs of transformation with solid cost control, reorganization, new distribution strategy, and encouraging order intake in Q3. Furthermore, we are reassured by the credit facility from the main owners, but we lower our valuation on the possibility of a new set-off issue in early 2023 and on back of the dilution from the latest set-off issue.
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