I disagree with your first part. Cash infusion by a third party (partner) would be construed as a massive endorsement of ABL and the BoM2. Thus the SPP could easily climb to $5. And depending on who the third-party would be, the SPP could easily mount a lot higher. 

On to your second part, HL would not be getting a 39% discount on any price tag seeing that they have already bought and paid for that equity interest in the company. 

IMO ... Koo