Epstein Secrets

rate Fund investors and the General Partner (the "Partners"). The Corporate Value Fund will distribute any "Distributable Cash" generated from each Investment to the Partners to the extent that such Distributable Cash is not reinvested (a "Distribution"); provided that Distributable Cash generated by an I

Fee The proceeds attributable to a given investment in a Corporate Event (a "Corporate Event Investment" or "Investment") may, in the discretion of Hudson Bay Capital, either be reinvested or distributed to Corporate Fund investors and the General Partner (the "Partners"). The Corporate Value Fund will distribute

ble to Acquirors with respect to Appraisal Proceedings not brought in Delaware. The Corporate Value Fund will only use leverage when it acquires an Investment with the consent of the Institutional Investor. However, even if the Corporate Value Fund does not use leverage to acquire an Investment, the Corpo

months to several years (depending, to some extent, on whether the Appraisal Proceeding is resolved in court or by settlement with the Acquiror). Hudson Bay Capital may from time to time negotiate to settle an Appraisal Proceeding before it is finally adjudicated. In certain circumstances, under Delaware Law th

Group Capital unexpected inability to continue to finance leveraged positions. Even if the Corporate Value Fund does not use leverage to acquire an Investment, the Corporate Value Fund will need to have margin accounts in order to facilitate its hedging activities. Hedging The hedging transactions in whi

Expedited Transactions The opportunity for the Corporate Value Fund to participate in any given Corporate Event will typically be short-lived, and Hudson Bay Capital may be forced to make investment decisions on an expedited basis. The risk to the Corporate Value Fund of Hudson Bay Capital making expedited inves