There is a Chairman's List that is around $50 Mil Plus ( people easily got on it I was offered what I want too I said no ) so the management company can get the brokerage fees. There was nearly $ 30 Mil raised at 30c in Pre IPO and none of those shares have escrow on them.
Even if this gets up and lists can you imagine the potential secondary market where there is no control on any selling etc on roughly $80 Mil worth of stock.Successful floats have a Chairman's List of limited amount to only the people they know like family etc not nearly half of the entire float. When you have nearly a third of the float given at nearly 20% discount which was 30C, in this market those guys would love to get even 10% and dump them. Underwriters control the secondary market and this is not even underwritten. I am not in this IPO and I most likely won't be in Costa either as they couldn't get a trade sale for many months so decided to go the IPO way. Even at the bottom end of the range Costa is expensive for sure. This is entirely my opinion and not a recommendation. Time will tell whether my gut feeling is right or not. No comparison to MGC as that is dam cheap at $2.10
