Member Info for Blubay

The company is not ‘finished’, it’s well funded to continue the drilling next season and it makes sense at this point to maximise the amount of data that can be gained this year for analysis. Drilling new territory is always a risky business but the funding for it is a big plus. There might of course also be a takeover interest.

https://www.nasdaq.com/market-activity/ipos/overview?dealId=1144401-98970

“Lockup Period (days) 180”

I believe the SEC prohibits ‘abusive’ naked short selling but the practice is not illegal per se, so it needs to be risk assessed in the filing document. The lock up for advance discount buyers is 180 days.

it's not bickering at all, just look at the chart. BTC is on an absolute bull charge to much higher levels but as t climbs it needs to consolidate at each step as people sell and others buy in on the dips. Today's little dip is far less so far than last week's 17 August dip, or 12 or 2 August for that matter. It's really of no concern to the trend and actually helps underpin the upward movement. The only annoyance is the temporary effect it has on nervous hands in terms of the SP.

where is this supposed 'drop'? Honestly... https://www.tradingview.com/x/NvVWEErh/

it hasn't fallen, it's hardly moved, there's really no point in monitoring it hourly, the daily and weekly charts along with the on chain data are all you need to indicate where it's going over the next weeks and months

"More Than 80% of Bitcoin is Held by Long Term HODLers..." not quite the same statistic

they might have conveniently 'come on line' after filing the SEC Form

"What will change this share is when we get Texas up and running and if BTC gets excepted and not just a pie in the sky currency."

We know Texas won't be 'up and running' until next year, and if you think BTC is 'pie in the sky' why did you invest at that kind of entry price? If it's any consolation I do think NASDAQ will make a difference and probably you'll get more news on investment and productivity before then.

@Tiger - "Does anyone know how long it will be before we are launched on The Nasdaq, and what The Sp will open at ?"

The number of shares and the price is not yet public knowledge but I believe the intention is to complete the launch within this Quarter (i.e. before end September) and presumably after the EGM, 6 September, which happens to be scheduled on a Monday morning at 5am New York time, before NASDAQ opens (read into that what you will).

The new ARBK ticker was listed on NASDAQ in pre-IPO mode today, so the prospectus is probably being hawked around potential advance buyers this week or next. They'll be offered a discount for their risk (which is not much of a risk) and for not selling during the 180 days lock-in period.

Some have speculated that the proposed price won't be too far above the channel in which it's been sitting recently but no-one knows whether it will be oversubscribed or how the market price might respond on listing day.

$2 would be roughly equivalent to 145p, so maybe in the region of 7 million ADRs of x5 shares each @ $10 ?

All good, no surprises, great to see the ARBK ticker up and running already on NASDAQ :)

52 week average on LSE is 5.83m/day

Recent OTC volumes for ARBKF

Aug-20 547,958
Aug-19 308,928
Aug-18 344,415
Aug-17 603,602
Aug-16 369,779
Aug-13 409,187
Aug-12 331,779
Aug-11 515,711
Aug-10 840,887
Aug-09 1,907,469
Aug-06 1,001,454
Aug-05 820,420
Aug-04 451,178
Aug-03 226,982
Aug-02 354,423
Jul-30 346,881
Jul-29 231,194
Jul-28 358,357
Jul-27 599,999
Jul-26 1,125,906

recently, less than 1m shares volume in a day, very low, often much lower. It's not uncommon to see 10m on LSE even recently in the quiet patch (obviously back in the big boom that was well over 50m)

"Broker will borrow shares and sell them into the market knowing that they'll get all those shares back on the day the placing shares hit the market. "

There are a lot of assumptions here.

Yes, no doubt some have been loading up on cheap London shares to sell on at profit in run-up or at the IPO (and probably the targeted shorting campaign was connected to that).

How does the broker retain their profit if they have to then buy all shares back at the higher price (or worse higher)? Borrowing shares makes sense if the price is going to drop, which would be a risky assumption for this IPO.

This is not a placing of additional shares on an existing listing, it's an initial offering of new shares in a new market. The shares are 'deposited' (with JPM) who package them up as ADRs for sale. But yes, it wouldn't be surprising if JPM had accumulated cheap shares from other markets in advance against this prospect.

There are not 75m shares. The maximum raise indicated on Form 1 is $75m, which at $2 per share would be 37.5m shares (hypothetically).

There is no $2 NASDAQ requirement for this share but yes it might make sense to pitch the ADR components above that for various reasons but could be a lot higher.

2021-08-23T08:47:57.197 GBX 140.26 30000 £42,078 Off-Book XLON
2021-08-23T08:09:22.500 GBX 140.60 30000 £42,180 Off-Book XLON
2021-08-23T08:07:34.960 GBX 140.61 30000 £42,183 Off-Book XLON
2021-08-23T08:00:49.953 GBX 140.71 30000 £42,213 Off-Book XLON

Selling this early in the day after going through all the recent pain seems surprising but good luck!

2021-08-23T07:52:42.957 GBX 140.11 30000 £42,033 Off-Book XLON
2021-08-23T07:51:33.600 GBX 140.88 30000 £42,263 Off-Book XLON
2021-08-23T07:48:35.383 GBX 140.56 30000 £42,168 Off-Book XLON
2021-08-23T07:20:55.933 GBX 139.78 30000 £41,933 Off-Book XLON
2021-08-23T07:17:22.467 GBX 139.51 30000 £41,853 Off-Book XLON
2021-08-23T07:10:07.427 GBX 140.85 30000 £42,255 Off-Book XLON
2021-08-23T07:09:30.943 GBX 141.22 30000 £42,367 Off-Book XLON
2021-08-23T07:02:07.290 GBX 143.75 30000 £43,125 Off-Book XLON
2021-08-23T07:02:02.157 GBX 143.66 30000 £43,098 Off-Book XLON

There really has been no volume at all on OTC to account for that. There may be some accumulation going on in anticipation of the NASDAQ IPO but, to be fair, the MMs have several times tried to lift the price at opening and there has not been the buying demand to sustain it. Obviously lots of background buying from funds but little from PIs who have in the past made up most of the investor base. Probably they've all been buying Bitcoin instead. It will recover in time for sure.