Lockup
posted on
May 17, 2019 09:53AM
I understand that the Canadian buyers will receive free trading shares as the offering is registered there. However it also seemed clear that US and other domiciles are defined as purchasing a PP, which I believe requires as a matter of applicable securities laws a four month lock up ? It will be interesting to learn what percentage will be Canadian buyers; it may be a minority ? With the unit at $4 the market is saying 3.50 for the share and .50 for the warrant ; entirely predictable so Company and BB anticipated this. If the number of units is less than 25% dilution the haircut is mispriced and too high, and both the shares and units are gravely undervalued in my opinion; which is just my opinion.