Sezzle wanted to raise $7.2 million from their SPP. They ended up getting applications totaling $78.2 million, so massively oversubscribed. They chose not take more than the $7.2 million initially intended and ended up scaling back applications on a pro-rata basis where each applicant ended up receiving new shares of only 7.1% of their initial share holding. Good for existing shareholders and the share price by not diluting share ownership if they accepted the full application. The issue price of the SPP was $5.30. SZL is now trading at $10.96
Spltit wants to raise $10 milliion from their SPP. I wouldn't be surprised if they receive applications totaling $100 million + in this current environment.
If they stick to accepting just $10 million worth of applications, I think the share price will trade in the $2.60 range sooner rather than later.
GLTAH
SPT Price at posting:
$1.66 Sentiment: Buy Disclosure: Held
