(Total Views: 345)
Posted On: 07/08/2020 10:14:47 AM
Post# of 36564
Question: Why did you feel the need to have 400MM shares initially issued for NGIO? For immediate NASDAQ listing, this appears to force an implied valuation for NGIO of $1.6-2.0B. With so much relying on the successful NSADAQ listing, why not have 300MM shares or even 200MM shares, allowing a lower ultimate implied valuation of $800MM-$1.5B with a minimum listing SP of $4 or $5?
With a lower share count, it would seem the listing hurdle would have been lower, and the SP could simply have been higher/safer for listing if the valuation came thru in the range implied by the 400MM shares ($2.0B valuation and 200MM shares trading on day one @ $10/shares looks great!).
Was it deemed necessary to issue the additional 100s of millions of shares and take the risk on the valuation/listing because bankers advised the market would need that added liquidity? Was the number of shares issued to GNBT shareholders thru the dividend too high of a percentage ownership with a lower initial float of 200-300MM shares?
With a lower share count, it would seem the listing hurdle would have been lower, and the SP could simply have been higher/safer for listing if the valuation came thru in the range implied by the 400MM shares ($2.0B valuation and 200MM shares trading on day one @ $10/shares looks great!).
Was it deemed necessary to issue the additional 100s of millions of shares and take the risk on the valuation/listing because bankers advised the market would need that added liquidity? Was the number of shares issued to GNBT shareholders thru the dividend too high of a percentage ownership with a lower initial float of 200-300MM shares?
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