BCE only needs a dilution of around 120k to cover the NBT development funds. If BKS was to be valued at say $6.5 before the event, then now it should be a bit more than $5.8, with a dilution of about 20k BKS.
It still hits but it’s not like the fundamentals are more at question than before. Also there’s a chance Nu will bleed enough NSR to save the funds; BCE should be prioritized as it gives a better chance for Nu to be solvent.
If this is a feasible middle ground, BCE and Nu can even strike a deal that NSR holders will be given a little extra BKS after the development funds is returned, which could mean less dilution and less actual bleeding by Nu.
I mean Elon Musk moxied his way out of getting Tesla bankrupt; if the fundamentals are still believable there’s a way out. I know at least I’m willing to offer part-time development support in exchange for BKS (not that JL will take me).