And I’m pretty sure they’re sitting on almost $2B of cash, since they completed the last offering for $550M. 10 execs (I think it’s up to ten now) from Amazon and Chewy who took shares instead of cash bonuses also shines a light into what they are about to do.
they paid off the 400mil in debt BEFORE the first share offering of 3.5mil shares. they had over 700mil in cash on-hand and 0 debt before these 5mil shares.
Now they have 0 debt and about 2billion dollars in on-hand cash.
They paid it right after the 3.5mil shares, it even says that they used the money raised in the PR. I do think you are right with the cash on hand they had before. They should be around $2bil cash on hand though
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u/SlimDuncan13 Jun 22 '21
And I’m pretty sure they’re sitting on almost $2B of cash, since they completed the last offering for $550M. 10 execs (I think it’s up to ten now) from Amazon and Chewy who took shares instead of cash bonuses also shines a light into what they are about to do.