IPO update, page-4

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Upthefog

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03/06/21

10:56

Post #: 53615666
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Originally posted by mg97788 ↑

ok, just got off the phone this morning with Henry with an update on the company, roadshow and IPO.

Currently, the company is finalising an updated f-1/a to be released including the march quarters revenue numbers which have been audited and some new operational updates. This will likely be released in the next 7-14 days. This is the precursor to the roadshow beginning which will follow subsequently and a lodgement of rule 134 with the SEC stating that the offer is open.

They currently are in blackout and trying to get the f-1/A out so the SEC doesnt impose further restrictions.

The underwriter is in discussions with some potential sub underwriters as there appears to be some interest in the area at the moment and will widen the investor pool.

Pricing currently there is no change to guidance from what we have been given so the $5-$7 range is still expected.

Indications are that the bookbuild for the ¬18mio is covered with 'soft' commitments at the moment.

Dr Geva will be selliing down some equity in the raise and will likely move to a mid 30% ownership.

Stock hold out remains at 12months, but the company and underwriters are concious of a large exit from Australian investors when that window opens so may look at other options (not sure what that is as yet).

I asked in relation to the new investor Rubini who provided 600k of bridging finance in April. He does appear to be a heavy hitter out of Alaska (net worth ¬ 300mio) and that was confirmed.

Pilots in Idaho and China

My read is IPO towards the end of the month, this is priced to list and will be successful

Iron, Janach, 61230305 or whatever - your all on mute, dont need the moaning, take this at face value and will know more in the next 2 weeks or so

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If accurate then Geva selling down to 30% is the best news any shareholder could possibly hope to hear. With luck there will be wider accountability & we will not be at the mercy of an autocratic majority shareholder. A proper functioning & arms length BOD will be very welcome IMO.

GMV Price at posting: 3.9¢ Sentiment: Hold Disclosure: Held
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