Copied from buywell advfn - warrant/ipo explanation17 Aug 2022 08:34
It would seem that most people do NOT understand the relevance of the Warrants TEK held LUCYD at a book value of US$ 27M prior to the IPO of Innovative Eyewear on Nasdaq ( LUCY ) The IPO of LUCY consisted of 1 common stock (share) PLUS 2 Warrants ( Now traded as LUCYW again on Nasdaq ) ---------------------------------------- AFTER the IPO Tekcapital own 100% of LUCYD and approximately 71% of Innovative Eyewear ( Nasdaq LUCY ) which is 5.19 million shares Those 5.19 Million shares are all --- 1 common stock (LUCY) + 2 Warrants ( LUCYW) Series A ---------------------------------------- Thus in order to ascertain the present value of Tekcapital holding of Innovative Eyewear the value of the Warrants MUST be included in the calculation ( see Tekcapital Twitter in buywell last post ) At close today on Nasdaq: LUCY COMMON STOCK ended at $5.54 htTps://www.nasdaq.com/market-activity/stocks/lucy The Series A Warrant at close Innovative Eyewear, Inc. Series A Warrants (LUCYW) ended at $0.89 htTps://www.nasdaq.com/market-activity/stocks/lucyw So the TEK holding of Innovative Eyewear is calculated as: 5.19M X $5.54 + 2 x ( 5.19M x $0.89 ) $28,752,600 + 2 x ( $4,619,100 ) $28,752,600 + $9,238,200 = $37,990,800 TEK at present has LUCYD valued on its books at $27,000,000 The IPO of Innovative Eyewear as of today Nasdaq close --- has added $10,990,800 to that book value Which is 9,083,896.20 Pound Sterling at todays rate Which represents a NAV uplift of 9,083,896 ÷ 149,590,000 = 6.0735 pence a share dyor -------------------------------------- To: Flagstaff/TEK Whilst the city and the MM's are fully aware of what warrants mean and how they add value Most PI's do not It is the opine of buywell that TEK needs to explain this ASAP Otherwise many are going to focus on the LUCY Share price and not take account of the LUCYW warrants This IMO is why the TEK price has fallen
Sign In
Follow the stocks
