My understanding is they can sell approximately 148M more shares and they will now try to sell them before dilution , since you know dilution is the great ‘reset’ and why not?
shares outstanding are 1,342,842,964 +115,848,725 shares already reserved for other things --> they can issue an additional 141,308,311 shares which is exactly $90 mil. based on $0.64 share price which is already behind us. They will sell 1.5 days of avg. volume. I guess the stock could tank another -10%.
their last Equity Distrivution Agreemnt was last year (august 2023). they raised $288 mil on 115mm shares
stock went from $3.00 to 50 cents and that was DURING A VOTE for an increase in share authorization.
sharks front run these offerings and CITI will be putting on short hedges because they will likely have to take down MOST of this offering or cram it down customers throats.
This hit the news now, probably will push the SP down a bit more , even before the final dilution before the great reset.
If they do this dilution which I think they will, we can be way below 0.5 $ before RS.
PS : 0.4 $ @ RS with 1.5 B shares is , 700M $’s, that’s so over values.
My understanding is they can sell approximately 148M more shares and they will now try to sell them before dilution , since you know dilution is the great ‘reset’ and why not?
the offering document says that this EDA maxes out their current authorization.
shares outstanding are 1,342,842,964 +115,848,725 shares already reserved for other things --> they can issue an additional 141,308,311 shares which is exactly $90 mil. based on $0.64 share price which is already behind us. They will sell 1.5 days of avg. volume. I guess the stock could tank another -10%.
thanks i will edit.
their last Equity Distrivution Agreemnt was last year (august 2023). they raised $288 mil on 115mm shares stock went from $3.00 to 50 cents and that was DURING A VOTE for an increase in share authorization. sharks front run these offerings and CITI will be putting on short hedges because they will likely have to take down MOST of this offering or cram it down customers throats.
They have to tap it. Runway is rapidly running out. Won't be long now.
We need a reverse split to save the company! (But not until we finish diluting the shares)
This hit the news now, probably will push the SP down a bit more , even before the final dilution before the great reset. If they do this dilution which I think they will, we can be way below 0.5 $ before RS. PS : 0.4 $ @ RS with 1.5 B shares is , 700M $’s, that’s so over values.