I get the impression that you rely heavily on luck for your "investment" returns. Sure we all benefit from some lucky breaks at times, such as Animoca's decision to pivot into blockchain games. At the time this was a very bold move, because it was before this niche sector began to take-off, but a calculated move all the same. i.e. It wasn't just a throw of the dice.
"i get a lot of u here are annoyed that we do not have any financial to see what exactly is going on, but at the end of the day it doesn't really matter."
You seem to be advocating that because they pivoted before the herd and are now able to raise funds from some highly respected institutional investors, then we should place blind faith in a delisted company that has been unable to produce audited accounts for the past two years, provides the AFR and others with more financial information than they provide to retail shareholders, and publishes no meaningful performance information necessary to track business health and outlook.
If financial information "doesn't really matter" to an investor like you, then what does matter? How do you make buying and selling decisions without any idea of "what exactly is going on"?
There was no need to "cement the company as a proper unicorn company", as you put it, as this was already successfully achieved on 13 May with backing from some big fish. Animoca have since branded the US$50m raise as the "second and final tranche". We'll never know whether this was planned all along (e.g. to maximise publicity), or whether these new big fish investors came knocking after the unicorn raise had concluded. I suspect it was the latter, as Animoca are superb at crafting a compelling story to make any decision appear positive (e.g. getting kicked-off the ASX).
Whether planned or not, I view this latest raise as a good outcome, because Animoca have demonstrated an exemplary track-record of putting funds to extremely good use. The ROI of their acquisitions and investments appears to be exceptional, so I am of the view that this raise will create value for all shareholders and am not overly concerned about dilution.
Much less pleasing is the fact that this raise was at the same valuation as the unicorn raise. It has already been discussed on these threads how successful growth companies can raise at increasingly higher valuations in quick succession. Therefore, from my vantage the optics are not great, because the fact is that Animoca was not able to raise at a higher valuation. There is always a barrage of big fish knocking on the door of successful growth companies willing to hand over their money for a piece of the pie. Yet, when there is genuine high demand, you are able to say "yes, we're happy to take your money, but you'll have to pay what we're now worth". This could be $1.20, $1.50, $2+.
"Mum and Dad shareholders/small retail investors are no longer important to this company as it is playing in the big league now"
I'm not even sure where to start with a response to this view. Assuming you're a retail holder, why would you put your blind faith in a company that has no regard for protecting your interests? Is it common for globally successful companies to treat shareholders (big or small) with such disdain? If you're correct, then how do you expect Animoca to eventually list on an exchange? Will they seek an exchange for sophisticated investors only?
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