Just to remind everyone, the last benchmark company valuation that was "market tested" was the CR completed last April, when mostly institutional investors (and some retail) bought a total of 12 million shares at $5.00 for a total investment of $60m. There would be no doubt whatsoever that the institution investors would have done a substantial amount of due diligence on the company, and its future prospects, before deciding to buy in at $5 per share. Nothing has changed on the company side since then, except that they now have an extra $60m in the bank to fund commercialisation, removing the need for any further cap raise for the next couple of years. I find it mindboggling that a large player has decided lately to sell large numbers of shares at a big discount to the CR. At least in hindsight, WBT made a spectacularly good decision to raise a good chunck of cash at $5.00. That decision leaves no room for the downrampers to claim that further cap raises will be needed anytime soon.
"24 April 2023
Weebit Nano raises $15 million via upsized and scaled-back SPP Highlights
• Weebit Nano has successfully completed an upsized and scaled-back Share Purchase Plan to existing shareholders, raising approx. $15 million
• SPP brings total funds raised to approx. $60 million, comprising approx. $15 million from the SPP and $45 million from the recently completed underwritten institutional placement
• Funds raised will be used to accelerate the commercial roll-out and development of Weebit Nano’s ReRAM technology"
All IMHO, DYOR
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$2.09 |
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Mkt cap ! $394.8M |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
1 | 4253 | $2.09 |
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1 | 10000 | 2.050 |
1 | 4893 | 2.040 |
2 | 542 | 2.030 |
3 | 6173 | 2.020 |
Price($) | Vol. | No. |
---|---|---|
2.110 | 9706 | 1 |
2.140 | 785 | 1 |
2.150 | 7000 | 1 |
2.160 | 8369 | 4 |
2.170 | 2000 | 1 |
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