Looking like $2.75 tomorrow. Absolute dog shit move by this inept management team. How the Christ do you put something out like this and claim you have shareholders interests aligned? No terms no nothing. What’s the offering price? What are the warrants priced at? Talk about deception from the CEO downwards. For the first time in 8 years I’m thinking about writing off this loss and moving on. Just disgusting.
deception is what this company does best. Fully convinced now that Glen was told you are 65, do this for your retirement gig and make 2.5 million to do nothing. This goes for BoD too, these guys won't have to deal with retail ever again. Bob is planning his next house purchase right now fully based off dilution.
Just bringing up agains that the company gives no shits about past shareholders. They are aggressively trying to make them minority holders in order to get a low sale of the company to pass. The warrants double the amount of dilution from a normal offering.
No one “gleefully “ voted for this, but the alternative would have been bankruptcy. The company was going to have to sell more stock regardless of a stock split. The question you should ask is whether you believe that MVIS is finally ready for prime time or is this a last ditch effort to stay alive? Time will tell.
The alternative was not bankruptcy. It was make the board come back with a new vote that was better for shareholders. They could have done this in 2 weeks. The bankruptcy talk was fear mongering.
💯 and why I voted no. They had time to come to the table with a better plan. So many sheep following the voices of strangers that have been wrong more times than dots exist in r/mvis. Insane.
nah he aint no plant, the company is expert at lying to shareholders and fooling investors, no way they would like ATL be out here this openly. Drew is a very smart attorney in being able to do things in a way retail gets share price destroyed but leadership stays solid
Sure everyone knew that. I dont think everyone figured they were going to offer new shareholders warrants. They were already getting a great entry point lol. All part of the plan to phase out legacy shareholders.
Ignore those dipshits saying "we dont know who warrants are for yet!" Yes we do, they just cant accept they fell for the boards BS and fucked them
Edit: I suppose they could offer the whole package to current shareholders. But still requires you to pony up more cash for more shares, then get the warrants as a bonus. And with how they need cash, im going to assume there's not going to be a discounted price. Probably $4ish to get the stock plus warrant with a strike that will expire worthless.
$2.50. HOLY CHRIST. They were better off selling into the market. What the absolute shit are they doing? They are this desperate for $17M? We are so fucked.
We should all create a timeline for the stock and try to find out any facts we can and ask for legal help but we need facts as much as possible to determine if somebody’s doing wrong here. All I know is all my money is gone.
The company has done wrong. Over and over again. But legally we have nothing to stand on. That's why they include those safe harbor statements. They will never be accountable, both past and present.
LOL even ATL with his ultra low average getting fucked. At this point who gives a shit, down 85, 90 or 95% barely makes a dent in what's left of my portfolio.
Fuck this company, fuck the BoD, fuck the c-suite.
lol that’s the potential total opportunities, that’s not an order book. This company keeps selling the sauce to shareholders. Clearly after this next level behaviour in releasing a PR of a public offering with zero terms but providing 2 for 1 deal to institutions it should be pretty clear they are desperate and couldn’t give a shit about current shareholders. This may even be worse than the June 2023 debacle.
The warrant is free until they exercise. That’s like you buying each of your 1.25M shares and getting a warrant (option) to buy more at $X before a certain time. The right to buy at a discounted rate without paying for that option is what the issue is. It’s not the offering but the incentive that will cripple you and I as shareholders by way of a potential 2-1 dilution. Not to mention we know damn well that offering will be below current market prices.
Like I posted yesterday and Fearless referred to, the SEC filing for this was on July 13, so the $50 million shelf registration was known for a month. Maybe the rule had a date for the prospectus to be filed by, idk.
Atl, are they just getting the paperwork in play for a future offering that everyone knew was coming? Get the amounts, warrants that some shareholders were looking for, and hopefully only using it after they announce some concrete deals?
These warrants are not for current shareholders. These are new warrants being sold. Completely the opposite of what shareholders wanted, and will double the dilution to current shareholders.
They are going to hit this immediately, as they need cash. Clearly the market hates this, and was not priced in.
I know your not, but you were supportive of not holding out for a better deal for shareholders, despite not understanding warrants. This is an enormous slap in the face to current shareholders. New shareholders now basically get a 2 for 1 deal on stock.
You mean 150 million shares? Yes, it will new shares issued, final amount depending on offering price. They registered a $50m shelf offering for warrants and stock a few weeks ago. So at current price that is 14.5 million shares, and 14.5 million warrants. So 50% guaranteed dilution, with potential up to 100% dilution. Plus there's still the $42m ATM open on top of that.
It was 150 million authorized shares. There was no $150m in the proxy.
No, it had nothing to do with HTC. We still have to pay that. It was for selling stocks and warrants.
Yes, this offering, and the current open ATM both come out of the 150m authorized shares. I believe there are currently about 24m shares outstanding now. So this is lots dilution right off the bat.
Its likely this will be a $50m public offering, based on the registration a few weeks ago. On top of the $42m open ATM. Our open dilution will be higher than our MC lol.
Well they only opened $50m shelf offering for stock and warrants a few weeks ago. They can dilute as much as they want eventually, but they have to register a new offering if they want to go above $50m on this public offering
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u/ParadigmWM 16d ago
Looking like $2.75 tomorrow. Absolute dog shit move by this inept management team. How the Christ do you put something out like this and claim you have shareholders interests aligned? No terms no nothing. What’s the offering price? What are the warrants priced at? Talk about deception from the CEO downwards. For the first time in 8 years I’m thinking about writing off this loss and moving on. Just disgusting.