I'd be very surprised if shares haven't already been drawn down from the 15 million shares given to ATM as 'security'.
I imagine their agreement involves a limit on the rate at which GLN can issue stock to ATM, perhaps $1 million a week. This would allow ATM to sell off their stock piece-by-piece. The last thing ATM would want is to get the entire amount in one big batch at 10% discount to the recent stock price. i.e. it would be very hard to sell out at a profit, which is their business model.
I actually hope the process has already started; otherwise, the declines in share price we've seen can only be explained by other stockholders who are selling in anticipation of ATM getting stock from GLN.
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Last
22.5¢ |
Change
-0.010(4.26%) |
Mkt cap ! $106.3M |
Open | High | Low | Value | Volume |
23.5¢ | 23.5¢ | 22.5¢ | $310.9K | 1.369M |
Buyers (Bids)
No. | Vol. | Price($) |
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5 | 531493 | 22.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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23.0¢ | 108604 | 3 |
View Market Depth
No. | Vol. | Price($) |
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5 | 531493 | 0.225 |
14 | 189144 | 0.220 |
13 | 272260 | 0.215 |
24 | 730646 | 0.210 |
13 | 560335 | 0.205 |
Price($) | Vol. | No. |
---|---|---|
0.230 | 70000 | 2 |
0.235 | 144998 | 4 |
0.240 | 328015 | 11 |
0.245 | 424471 | 9 |
0.250 | 389040 | 8 |
Last trade - 16.10pm 30/05/2024 (20 minute delay) ? |
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Last
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Change
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Open | High | Low | Volume | ||
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Last updated 15.59pm 30/05/2024 ? |
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