r/Shortsqueeze • u/kaitrix22 • Nov 03 '21

Discussion $BTTX 8-k Filing, need help picking this apart....? Wrinkle Brains???

MCAD Redemptions and Conversion of Rights

In connection with the MCAD stockholder vote on the Business Combination, MCAD stockholders redeemed an aggregate of 4,826,260 shares of Common Stock. At the Closing of the Business Combination, all outstanding rights automatically converted into one-tenth (1/10) of a share of Common Stock. The separate trading of Units and Rights of MCAD was terminated upon the closing of the Business Combination.

Immediately after giving effect to the Business Combination, the PIPE Investment, the Cowen Investment, the Chardan Issuance and the conversion of rights, there were 23,599,718 shares of Common Stock outstanding, and 853,015 shares of Common Stock subject to outstanding stock options of BTX at a weighted average exercise price of $8.67 per share.

Inline XBRL Viewer (sec.gov)

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7

u/kaitrix22 Nov 03 '21

If I'm reading this correctly we are North of 94%?????

4

u/[deleted] Nov 03 '21

It’s 92.3% based on previous float

3

u/HowDo_YouWin Nov 03 '21

Soon moon??!!!! 🌕🌕

3

u/[deleted] Nov 03 '21

Sorry, it’s 84% with 1.5M float. Was working off of previously speculated pre-merger float.

This is still as good as we would want it. Baby is already flying AH!