"One key variable everyone should be watching here is the trust redemption rate. The ~$420M trust assumption is effectively priced under a “zero redemption” scenario. But reality matters: Higher redemptions = less capital transferred to Agility. Lower redemptions = stronger balance sheet + more runway. This becomes a direct read on investor conviction. It’s not just a financing detail-it’s a confidence signal. How the trust behaves will heavily shape Agility’s post-deal strength."