RE: New filing - Issuance of 8.4m shares at $11.50 for warrant holders31 Oct 2023 10:06
Thanks for this. Very confusing. Seems like they are just repeating the same information as in the original filings?
Why file this info again now?
Anyone please let me know if I'm missing something.
• 8,433,231 warrants at $11.5, those won’t be exercised at this low SP
• 8,623,081 IPO shares purchased at $10, won’t be sold now at a huge loss
• 880,000 founder shares bought at $0.004, these are the only ones that can be sold now for profit (if they can even sell now?)
The table on page 7 which contains these figures is confusing. I assume the figures in brackets are a potential loss (ie negative figures). So the worrying sounding text saying SP will go down if many holders sell seems overstated as practically anyone listed if they sell would do so at a huge loss currently.
Please correct me if I mis-understood anything.