I wouldn't read too much into it. Best case - it is additional funds to bridge the time period between now and when the spinout occurs.

GC said that they would announce the signing of definitive agreements around JPM. But the deal may not close immediately. There could be a period of time between signing the definitive agreements and closing.

And they have to keep the lights on.

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I don't know what to make from this further funding and dilution. Is it someone wanting to get more shares or is this an act of a company that failed to get substantial funding or a deal that fell through at the last minute? We will see how the week unfolds.

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