OK, so a few things I have found
Based on the below table, your ASX equivalent shares are worth 47c on listing
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| SOI | Offer Price | Market Cap USD | Market Cap AUD | ASX SOI | ASX Per share |
|---|
| 1 | ASX Shares | 49,246,592 | 6 | $295,479,552 | $416,168,383 | 886,438,656 | $0.47 |
|---|
| 2 | Nasdaq Shares | 5,000,000 | 6 | $30,000,000 | $42,253,521 |
|
|
|---|
| 3 | Total | 54,246,592 | 6 | $325,479,552 | $458,421,904 |
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|---|
Negatives
No mention of Meditel in Italy, Livecare, All Country Home Care, the University Hospitals or patient numbers.
3 month lock up. Will be hard to find buyers for 23m shares as directors are locked up for 12 months. I am assuming that most of the 23m shares would be happy to sell at the offer price of $6 or 47c AUD. This is probably the biggest risk IMO. Going to need some serious news and big hitting investors to soak this up.
Surprises
Page 6 - Signed a marketing deal in Sept 2020 with Guthy Renker - IMO this is a big deal. These guys are big and can move product
Page 77 - Sold 100 prizmas to Dongtai Hospital in China to use in nursing homes
Page 95 - Director nominee Chana Epstein - looks like a good get IMO
Page 106 - Service agreement with Brendan - lucky for some and I am assuming he is earning his keep and I'm happy for him to be compensated for results
Page 127 - Underwriting agreement - IMO the whole $30m will be underwritten
Overall
Many maybe underwhelmed with the prospectus. But IMO its a very detailed document. The US IPO market is very different to what we are used too in Australia. The company has left the door open for many significant positive announcements in the short term. IMO NMPA will come this year. The other kicker will come once the company reports December qtr numbers, revenue and patient numbers.
I'm not 100% sure, but the company can't list for a min of 25 days after lodging this prospectus. This lines up well for the EGM later this month. And thus I anticipate a Nasdaq listing early November.
If all goes to plan according to the prospectus, we will all be in a much better position than where we were on the ASX. The company and BOD continue to push ahead and create value for shareholders.
