There's an added complication that some of the stock is class-C non-voting stock (which is less valuable) but they plan to make it voting stock at some stage after the transaction.

Also, Unity stock holders end up holding 55% of the merged company.

And Unity is a loss making company, with only $297.0 Q2 revenue. https://www.marketscreener.com/quote/stock/UNITY-SOFTWARE-IN...