"instructing them to cease offers or sales of Placement Shares"
Hey Truist Securities, those shares that we told you to go ahead and sale at this minimum price, stop it now! Changed our minds!
Let's use an example and say Verb gave the order to sell 1M shares at $2. I'm making it up. Could be 1M shares at $4 for all we know
Cease right now! Don't do it! I know you want your 3%, but don't.
Now if Verb wanted to keep the agreement in place, maybe a simple call to say hold your horses buddy, we changed our minds, would work. Or an email. Or a letter.
No, this agreement is canceled.
Which makes me think that this agreement was a barrier to something else.
Kind of like if you wanted to buy another house and you have a lot of credit sitting around like a home equity line. Some banks may want you to close that before you can even get pre-approved, especially if you want to use your home equity as leverage, but talk to your banker first and don't get your mortgage advise off of a message board.
So the next question that comes to mind is...
Was Truist doing some monkey business that caused Verb to kill the agreement?
If you look at the list of clients over many years, I would say no. They ain't no AGP. They seem top tier have worked with some of the leading companies in the world and book runners for some very big IPOs like UBER.
Even did an follow-on offer for Smartsheet the company I mentioned a few times for $645,322,500. That was a year after they IPO's and raised $150M. Imagine that, a company IPOs and a year later does a follow on offer for over 4 times the IPO!
I know, I know...
Oh the dilution!!!
I joke around about that as the stock trolls go nuts when a company raises funds like SMAR, but never really want to talk about how they are now a $8B stock.
Did they raise $8B? No. It's textbook how you grow a company fast, but don't let them know, you know.
Look back years from now and compare what Verb raises to the valuation. Might be even better as most tech companies are not cash flow positive for years and only after a very long time like Salesforce
So if we could rule out monkey business, that leaves me with...
Could be something came along suddenly?
I would guess so
You may be asking, is Truist still involved or not?
I don't think it even matters
Truist likely can connect Verb to some top companies to partner
But then again, companies could reach out to Verb directly
Truist likely can connect Verb to some big institutions
But then again, Verb is already connected to some of the largest institutions in the world. How do I know? Easy, they invested millions into Verb.
I'm leaning towards Truist isn't in the mix because of the urgency of the letter.
I'm also leaning towards there is either one institution that wants a bigger slice of the Verb pie all to themselves or a bigger software company wants a stake.
The latter is fairly common where a Salesforce, Oracle, etc wants a 10% ownership so they can get closer. Put someone on the board, etc. do later decided if they should purchase.
Verb is now at this stage where if some tech firm was going to take a stake, now would be peanuts compared to what you'd could be paying in a year, two, etc.
Yeah, I believe something is going on
No cat ever walks away from a bowl of $18M
Very hard to be nudged away from an ATM
I would guess we don't have long to wait to find out
Hey Truist Securities, those shares that we told you to go ahead and sale at this minimum price, stop it now! Changed our minds!
Let's use an example and say Verb gave the order to sell 1M shares at $2. I'm making it up. Could be 1M shares at $4 for all we know
Cease right now! Don't do it! I know you want your 3%, but don't.
Now if Verb wanted to keep the agreement in place, maybe a simple call to say hold your horses buddy, we changed our minds, would work. Or an email. Or a letter.
No, this agreement is canceled.
Which makes me think that this agreement was a barrier to something else.
Kind of like if you wanted to buy another house and you have a lot of credit sitting around like a home equity line. Some banks may want you to close that before you can even get pre-approved, especially if you want to use your home equity as leverage, but talk to your banker first and don't get your mortgage advise off of a message board.
So the next question that comes to mind is...
Was Truist doing some monkey business that caused Verb to kill the agreement?
If you look at the list of clients over many years, I would say no. They ain't no AGP. They seem top tier have worked with some of the leading companies in the world and book runners for some very big IPOs like UBER.
Even did an follow-on offer for Smartsheet the company I mentioned a few times for $645,322,500. That was a year after they IPO's and raised $150M. Imagine that, a company IPOs and a year later does a follow on offer for over 4 times the IPO!
I know, I know...
Oh the dilution!!!
I joke around about that as the stock trolls go nuts when a company raises funds like SMAR, but never really want to talk about how they are now a $8B stock.
Did they raise $8B? No. It's textbook how you grow a company fast, but don't let them know, you know.
Look back years from now and compare what Verb raises to the valuation. Might be even better as most tech companies are not cash flow positive for years and only after a very long time like Salesforce
So if we could rule out monkey business, that leaves me with...
Could be something came along suddenly?
I would guess so
You may be asking, is Truist still involved or not?
I don't think it even matters
Truist likely can connect Verb to some top companies to partner
But then again, companies could reach out to Verb directly
Truist likely can connect Verb to some big institutions
But then again, Verb is already connected to some of the largest institutions in the world. How do I know? Easy, they invested millions into Verb.
I'm leaning towards Truist isn't in the mix because of the urgency of the letter.
I'm also leaning towards there is either one institution that wants a bigger slice of the Verb pie all to themselves or a bigger software company wants a stake.
The latter is fairly common where a Salesforce, Oracle, etc wants a 10% ownership so they can get closer. Put someone on the board, etc. do later decided if they should purchase.
Verb is now at this stage where if some tech firm was going to take a stake, now would be peanuts compared to what you'd could be paying in a year, two, etc.
Yeah, I believe something is going on
No cat ever walks away from a bowl of $18M
Very hard to be nudged away from an ATM
I would guess we don't have long to wait to find out
15
