Could you please write to me and I will look into your situation ([email protected])? HC doesn’t like me commenting on individual's situations here.
There is no way to do a scale back of the magnitude we had to without some people being unhappy. We applied the principles we set out at the start of the SPP of allocating more to those that we believed would be long term holders over traders. We used a range of factors including eligibility, buying and selling over the last 12 months, buying and selling during the SPP period, size of holding, and time of application. This was applied algorithmically. The end result was less than 4% got a full allocation and the majority (~70%) got an allocation in the 80% range. Around 10% got zero allocation.
I have nothing against traders (it is tough) and they do provide liquidity, but in my opinion the timelines of biotech are better suited to patient long term capital that understands what we are trying to do than traders with a focus on the charts. I am sure our SPP would not have been a success if our registry was dominated by traders - I know from speaking to many of you over the years that the reason you are invested in RAC is you understand and support what we are trying to do. I want more shareholders like you
RAC Price at posting:
$3.24 Sentiment: Buy Disclosure: Held
(20min delay)