I was wondering when you would bite SB. Peculiar that you chose that particular point at which to respond to and not the other 15 points I raised before it, I was rather enjoying debunking the mistruths you were publishing in your novels before I cleared up how an ATM facility works.
To clarify, Sayona does not have to pay costs or fees to Acuity to manage the facility i.e. to sell shares at market on behalf of Sayona, leads to the elephant in the room doesn't it ?
I mean If you don't pay someone a fee, if they don't take a cut or percentage, how do they actually get paid
I'll give you a clue mate, they are issued a holding deposit (at no cost to acuity) at which point they begin selling on your behalf (when directed to on your terms and conditions that you advise them to), they also day trade with the remainder and back themselves in to make a profit to make it worth while. These shares are held in Acuity's name and they have to hand them back when the facility ends.
An experienced trader like yourself should know how an ATM facility works. An experienced trader like yourself should also know that a Top20 List of a Share Register is not taken live during a trading session, but taken at the end of a trading session
I would reiterate my earlier point. I Actually think an At-The-Market Capital Raise for a stock that has high liquidity and strong news flow on the way is actually a very smart thing to do for all the reasons I have mentioned this morning. Sayona has high liquidity and Sayona has news flow on the way, setting up the ATM facility now, so that Acuity can begin selling shares on market by drip feeding it when newsflow drops is a wise move by Brett and Co.
SYA Price at posting:
21.0¢ Sentiment: Buy Disclosure: Not Held
(20min delay)