Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Not too bad DJ.
As we saw with Belluscura, the lock in promotes good initial growth which can only be good. The warrants have a lock in of 180 days too so. I think it's about as much as we could hope for although LUCYD has surprised me every step of the way so I'm probably not very rose tinted with them ! :)
In summary : 6month lock-in (180days) for the majority of the existing shares held by curent Lucyd (large) shareholders
In detail : from prospectus
Based on the number of shares outstanding as of the date of this prospectus, upon the closing of this offering, approximately 8,970,362 shares of common stock will be outstanding, assuming an initial public offering price of $5.25 per Unit (the mid-point of the price range set forth on the cover page of this prospectus), no exercise of the Warrants included in the Units offered hereby and further assuming no exercise of the underwriters’ over-allotment option. Of the shares to be outstanding immediately after completion of the offering, all 2,857,142 shares sold in this offering will be freely tradable unless held by an affiliate of ours. Of the remaining 6,113,220 shares of common stock outstanding after this offering, 381,469 shares are, or will be, freely tradable without restriction immediately after the consummation of this offering, approximately 755,706 of these shares, representing shares not held by our “affiliates,” generally may be resold under SEC Rule 144 beginning 90 days from the effectiveness of the registration statement of which this prospectus forms a part, subject to any lock-up agreements entered into between such stockholders and Maxim Group LLC, and 4,976,045 of these shares may be resold under SEC Rule 144 beginning 180 days from the effectiveness of the registration statement of which this prospectus forms a part, subject to any lock-up agreements entered into between such stockholders and Maxim Group LLC and subject in certain circumstances to the volume, manner of sale and other limitations under Rule 144.
Thanks all. TEK’s value certainly going up and up. My £1 initial target still looks good.
Onwards and upwards
Morning Folks
Good input from everyone here. Thanks. I skim read the prospectus yesterday but aim to have a better read today. Just by off chance did anyone come across the relevant details regarding any sort of Lock ins. I wouldn't expect LUCY to get away with that but if they did that would be a bit of coup in my opinion.
Use of Net Proceeds ($) -----------$ ------------ %
Inventory ---------------------- 3,902,128 ------- 30
Sales & Marketing------------ 3,902,128 ------- 30
Product Development------- 2,601,419 ------- 20
Working Capital -------------- 1,951,064 ------- 15
Capital Expenditures -------- 650,355 ---------- 5
Total ----------------------------- 13,007,094 ----- 100
Net proceeds from the IPO will be around £9.5 million ($13,000,000) based on the assumed offer price of $5.25.
Use of Net Proceeds ($) $ %
Inventory 3,902,128 30
Sales & Marketing 3,902,128 30
Product Development 2,601,419 20
Working Capital 1,951,064 15
Capital Expenditures 650,355 5
Total 13,007,094 100
The document is actually a great read, if i had a US $ account i would buy some!
At the mid price of $5.25 ( offer range $4.25-$6.25) the value of LUCY will be a smidgeon under $50m (and have a cash balance of $13m!) so Innovation eyeware's 55% value (at $5.25 per share) is $27m of which TEK owns 81% so gives TEK a holding worth c$22m. That's my reading at least.
$45M-$50M overall - TEK‘s allocation would be worth around $29M. Looking good for a successful IPO for LUCY.
Combine BELL and LUCY would match the current mcap! Re-rate is coming.
Looks like this values Lucyd at around $20 million. Anyone concur?
Similar to Belluscura. Let's hope it performs as well after IPO
9 Million I think Gheko - 6 million with LUCYD now before the raise/IPO etc
Have I read the prospectus right that the offer price will be around $5.25 per share? Any idea how many shares in issue that we own to give an initial value of TEK's stake?