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Tech stocks are under huge pressure due to their hope value, I was told last month that half of the Nasdaq stocks had halved this year, due to the flight to safety. But if you look at all the court filings for Cap-XX v Maxwell you can see that Maxwell have been dragging it out in trying to find prior art or any other get out clause. They have clearly failed or the case would be over. and this is with the same judge that Cap-xx won with before. So Maxwell or Tesla are still dragging their feet, which might mean that they are not in agreement and Mr Musk is no fool and either has a clause in his purchase agreement or is saying "your problem".

So Ionic buys Imagine Intelligent Material whose joint founder and VP R&D is/was Phillip Aitchison whose cv on LinkedIn shows he was the ex VP R&D at Cap-XX, tis a small world in carbon and graphene in Australia. Be interesting to know if he is still involved.

I suggest that reading this article, https://www.graphene-info.com/graphene-oxide will help people understand the difference between Graphene and Graphene Oxide.

Oxford Nanopore are apparently targeting a valuation of £4bn up from £2.4bn in May according GEN the online Genetic Engineering & Biotechnology News, I am sure that the investors in the last 18 months will be looking for a similar increase in valuation. I also believe that Exscientia is viewed as a more 'next generation' model and should command a premium and on FIPP's website they still hold 2.4% DYOR Sometimes

Portfolio news - Registration statement filed for proposed initial public offering of Exscientia in the United States

Frontier IP, a specialist in commercialising intellectual property, notes a registration statement on Form F-1 (the "Registration Statement") has been filed for portfolio company Exscientia Limited with the U.S. Securities and Exchange Commission (the "SEC") relating to a proposed initial public offering of Exscientia (the "IPO") in the United States of its Share Securities ("Share Securities").

The Registration Statement relating to the Share Securities has been filed with the SEC but has not yet become effective. The Registration Statement can be accessed at the following link: https://www.sec.gov/Archives/edgar/data/1865408/000110465921114491/tm2119783-5_f1.htm

At this stage there can be no certainty on the IPO proceeding nor the terms or timing of the IPO.

Further announcements will be made by Frontier IP at the appropriate time.

FIPP use last funding event for valuation, so nav will lag either an up round or down round. If Exscientia's last round was done at $1bn valuation (not unreasonable to assume looking at the sums raised) and FIPP have 2% after dilution that will be a massive uplift to their old book value. We will just have to wait for the figures, but that is why they had to make today's statement. I think the last brokers note had £1 either as nav or target price.