2 Comments
May 21Liked by Left

My back of the napkin math is that full exercise will result in ~38% dilution, but I doubt all warrants will get exercised, so maybe ~30%?

While the stock could in theory be manipulated lower to get a better post-dilution price, I think there's a floor. It can only drop so far before it makes sense to buy even knowing one will be diluted a few days later, because recovery should be swift given sales trends. I'm about half allocated, watching and waiting.

Expand full comment
May 21Liked by Left

Alternate Title: Unwarranted Warrants

Expand full comment