Member Info for Blubay

because that's not how it works, you don't set a price arbitrarily. The prospectus provided an indication of what the share had been traded at and the brokers then negotiated with potential buyers to see what they were interested in paying and to build an order book. The pricing is a result of that process.

But if you want to sell me all your x10 shares for $15 I’ll buy them :)

sorry, my typos

112m
now

I’m pleased if they’ve already raised more than $122m to build Texas, debt free, yes. Also pleased if they’ve sold all of the 7.5m ADS receipts, which appears to be the case from the headline numbers. IPO is a brokered book building process. I’ve no doubt many of those shares will no be traded on the market for profit (they’re not going to sell them again for the $15 they paid, that’s for sure.

And on cue the shorters arrive :)

You would need to have a buy order in for your price really and hope it fills rather than trying to spot buy at 8am

The company isn’t run for you, it’s run to grow the value of the business and to maximise profit in the wider general interest of shareholders. Your shares will go up if Texas can be built and machines can be run efficiently. The IPO should raise the capital to do that.

As Chuz says, the buying opportunity is more likely on the London market this morning before the launch in the USA

yes, this might help
https://www.nasdaq.com/articles/new-ipos%3A-why-dont-they-start-trading-immediately-after-the-market-opens-2021-09-16

So last Monday BTC was $45k and ARB was 131p, since then BTC has gone down about 5% and the SP has gone up about 20%, and you don’t see anything ‘exciting’?

The IPO price is not automatically the LSE closing price but the MMS may align tomorrow’s LSE opening price/spread with the announcement.

ARB is massively up against BTC this week, and relatively more than other miners because of the IPO anticipation. Day before the IPO you’d expect to see a bit of selling and the closing trade was not representative of the day.

We had the price movement early, which is a good sign. In case you missed it, the SP went up 30-40p in the past 7-10 days! Today’s closing price is also a big of an anomaly triggered by the final trade of the day.

NASDAQ brings the shares to a new and very large market of investors, both private and funds, who generally don't or can't buy shares on LSE/OTC. Hopefully, that new demand raises a large amount of initial capital to realise our growth plans in Texas without a dilution price effect on the existing shares. It should bring much higher liquidity but also more stability over time, and hopefully less scope for market manipulation too. More shares and liquidity might send the price up or down in the first couple of days but if it does raise sufficient funds to complete Texas and buy mining machines then those things becomes real 'news' rather a plan, and that news will raise the share price. One step at a time.

The market will have priced in its collective expectations about the initial pricing, some will have bought and others will have sold on that basis depending on their strategies

It'll probably shoot up after the options expiry on Friday morning

that number seems to have gone down in the amended submission

"Upon completion of this offering, we will have 456,832,335 ordinary shares outstanding, approximately 5,631,197 of which will be subject to 90-day lock-up agreements entered into by our directors and officers and certain of our shareholders..."

Not as far as we know, apart from the so far declared 12m shares by directors and close associates which are locked for 90 days.

It really depends if you want to invest in an established miner that is focused on blockchain technologies (like ARB) or a company in a different business sector that also plans to mine BTC (like ANY). If you're looking for a BTC miner then ARB is obviously worth looking at, if only for time critical price point around the IPO and anticipated news developments.

Lots of aspirations but early days. Grypon only founded in 2021 have just mined their first Bitcoin, Sphere haven't (mining isn't even mentioned in their company activity or mission, but Gryphon's CEO was CFO for RIOT). The merger is not yet completed. Probably it will happen. As far as I can Sphere is simply acquiring Gryphon's mining business as an add on and financing its rapid expansion. There may be complementarities with their core cloud software businesses but they haven't yet been explicit what those plans are, or whether it's just as a money spinner.

My takeaway is that it's perfectly possible to set up a big BTC mining operation quickly if you can buy the expertise and raise enough capital, and you can make green mission statement for doing so if you want to. ARB will need to deliver, quickly or distinctively, to keep up.