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Thought about waiting to top up but it can turn really quickly and then you end up chasing it higher

Looking cheap now, topped up at 17.25

And directors at a small discount to the SP at the time and

That said, it was oversubscribed by institutions and directors at a small discount to the SP at the time and

Apologies posting problems -That said, it was oversubscribed by institutions and directors at a small discount to the SP at the time and

......That said, it was oversubscribed by institutions and directors at a small discount to the SP at the time and

The SP is down 50% from October with the drop obviously triggered by the surprise cash raise. The cash raise was for good reasons, to accelerate the rollout in the US which is essential to gain economies of scale, and to bring Leakbot Edge to market which opens up a much wider US market and also Australia. The main issue was that the raise was unexpected and the communication handled badly, it should have be manged as a positive. That said, it was oversubscribed by institutions and directors at a small discount to the SP at the time and

Lab grown leather or Citymix or lab grown meat or Corneas. Unique IP and any one could bring in big revenues.

Seems like a positive move with benefits, maximise shareholder value would be good

"Ultimately, the appointment of Singer Capital Markets as a joint broker is a strategic move designed to secure growth capital and maximize shareholder value"

Changes ahead?

Retail investors following the herd

Ticking up again, something must be happening behind the scenes

Ondo, nationwide and whiskerlabs are transforming the US home insurance industry to a prevention rather than claim model. This is a huge opportunity with huge rewards for these companies but it will obviously not be straightforward. Journeys like this have bumps in the road.

Patience will be rewarded.

Had time to reflect on ONDO over the holiday period. One thing that occurred to me was that the appointment of the two new senior directors in august suggests that ONDO are expecting some kind of corporate activity and bolstered the executive team to deal with it. RNS 4/8/2025.

IMO the most likely event is for Nationwide to acquire ONDO as strategically it would be good for both companies, alternatively Private Equity could try and pick up ONDO on the cheap. In any event Craig will not let the company that he has spent years building go for peanuts. I believe that ONDO will be a very different company by the end of 2026 either by rapid organic growth in the US, a US listing or through an acquisition.

Have been tempted to trade the dips and peaks but have held and topped up over the last few years for fear of missing out on the real big gains, which will come.

GLA

Happy Christmas to all ONDO holders and hoping for a prosperous new year.

Upthemost, yes the Nationwide takeover is an interesting angle, if they were to take a large stake or the whole thing then they could roll it out really quickly and get ahead of their competitors. And they have the cash to do it.

Lawrence - do you have a conclusion on the cash situation?

Sentiment has obviously been hit by the surprise nature of the cash raise however -

The cash was raised proactively and for positive reasons, to accelerate the rollout in the US and complete the development of Leakbot Edge which in turn will open up a wider market

The subscription price was at a small discount to the then market price (30p), only a 10% dilution and was oversubscribed by institutions and Directors

If they had warned us of this advance the SP would probably have risen!

The SP drop from 30p to 20p is a complete emotional overreaction by the market and IMO will be quickly reversed once the positive new flow continues in the new year (new contracts, contract expansions, rollout acceleration, implementation of Autoship etc etc)

Patience will pay off.

Very thorough, here is the conclusion:

"Conclusion

Whichever the reason behind it, the cash breakeven is music to my ears.

ONDO is just a £31.5m market cap (down about 35%-40% from recent prices) for a rapidly expanding business where there are growing recurring incomes.

With its existing proven product, and its new Edge product - unique in the world - and significant and growing orders from insurers I am rather excited by the prospects from ONDO."

Kapitalforeningens increase in holding was obviously part of the cash raise and clearly they were willing to double down at 25p. Good to have the confidence of institutional investors.