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This showed up in my Schwab newsfeed about an hour ago.
Dow Jones - July 1, 2024 2:35 pm
Vitro Biopharma to Offer 1 Million Shares in Initial Public Offering
The regenerative medicine and cellular therapy company expects to price its offering between $5 a share and $6 a share, according to a securities filing. It expects net proceeds around $4.7 million based on a public offering priced at the midpoint of its guidance. Vitro intends to use the net proceeds to advance the continued development of its AlloRx Stem Cell therapy candidate, among other efforts. Vitro said its common stock has been approved for listing on the New York Stock Exchange American under the ticker VTRO.
Write to Denny Jacob at denny.jacob@wsj.com
Do you know how many shares outstanding there will be?
Even though a lockup period usually pertains to insiders, i assume it applies to us as well?
From Benzinga. Showed up in Schwab Thinkorswim news:
Vitro Biopharma, Inc (NASDAQ:VTRO) becomes publicly listed starting on Sept. 13, 2023. The company has a price range set between $5.00 and $6.00 with a 180-day lockup period. Vitro Biopharma, Inc will be offering 1,818,000 shares at a per-share value of $5.50.
VTRO is now in my Schwab account. No bid, offer or value.
The correct number of shares, post-split, are showing up in my TD accounts under the delisting number.
Thank you very much, Tom. Potentially excellent news, indeed.
I know I'm stating the obvious-- their potential pipelines will mean nothing to us if our shares remain valueless. Are you thinking that if these pipelines are truly viable it makes it more likely that we will be duly compensated for our shares? Thanks, as always, Tom.
No need to donate your shares to lawyers. They will get a cut of the settlement whether out of court or determined by a judge. This is happening now to one of my stocks (different story in that they did offer shareholders so many dollars per share when they went private). However, there was a class action lawsuit because they "somehow" under calculated how many dollars per share was due to shareholders. We're now getting another $2.92 per share of which up to 25% goes to attorney fees. The lawsuit was settled out of court.
Tom, Appreciate all the due diligence, as always. "And now, having strategically allowed the SEC to do the dirty work for them, they apparently think that they can just ignore those interests." My first thought was to file a complaint with the SEC. From what you wrote, are you saying that the SEC is enabling the company to ignore legacy shareholders?
How can a stock with such great earnings generate so little interest on the Street and at such a low PE?
If our shares become worth something it will be found money. I'm not counting on it but remain hopeful.
Thanks. I was looking for outstanding as opposed to the float, so 46M from what you said with the possibility of another 12M. I wonder what their legal responsibility is to legacy shareholders.
Do you know how many shares were out prior to delisting?
You're indeed a good storyteller, Tom! Appreciate your honest optimism. Time will tell. The silence from the company to date is dismaying. The good news is that if we don't get our shares resurrected it won't affect my P&L given the current value of those shares in my account.
Thank you for your thoughtful and comprehensive reply.
Tom, Do you think we'll be made whole, i.e., one-for-one for each of our old shares?
I appreciate it, too. Thanks, Tom.
Hope it holds. The stock is so thinly traded that it doesn't take much to move it up or down a fairly significant percent. Although, a lot of shares traded today. Someone (or more than one) really wanted in.
Thanks, Tom, as always, for your due diligence.
Just too painful. I sold the last of my shares yesterday. GLTA
It's hard to believe I was once making a lot of money in this stock.
https://finance.yahoo.com/news/mcloud-announces-12-6-million-001200427.html
Authorized, not issued. If issued it's dilutive. They would increase the number of issued shares to raise capital, hopefully for good purpose.
Thank you!
My stockbroker friend said there was VODG news yesterday (3/09/21). Does anyone have a link to it? Thanks.
I added more shares, too, today, I hope it doesn't get down to 2.01!
You can ignore my question. I just listened to the conference call. They should do well in 2021. I think the price action of the stock today is people reacting to earnings at face rather than having an understanding of what impacted those earnings during the fourth quarter and during the year. The stock is being hit for no valid reason, IMHO.
What makes you say that?
I don't know if I'm a "significant shareholder" but I do have a very significant amount of money invested in the company. I would never sell a few of my shares to buy it back at a lower price unless I thought the stock was over valued. What if people step in to buy after I sell and the price goes higher? I'll never get in at that hoped for lower price. For the shares in my taxable account I would get killed in capital gains taxes. And given the hundreds of thousands of shares traded each day it would take a lot of shares to move this stock down to the point where the risk and tax cost of selling would be worth that risk. If I coordinated my sales with others we would all face the same risk/tax consequences. What if their new skin care products are put up for sale the day we sell some of our shares? What if they announce an expansion of their tele-medicine efforts that day? What if an ETF announces that they intend to include the company in their holdings? Maybe some people would do that but it doesn't seem worth it to me. I'm happy to watch the stock go to $100.
Is it clear to anyone what is meant by a "Teaming Agreement" and how that impacts the $85M allocated for Phase 1 with regard to EKCS?
I bought my first shares of EKCS in February 2012! Forgot I owned it. And I read all these posts on StockTwits where people view a long-term hold as anything more than a month, certainly not to be held for more than a year.
How do they do that?
Less fun was .47 to .185.
Thanks for the update.
I added 75K shares at .21 to average down. Down 60% in one day? Ridiculous. A total buying opportunity. Way over done.
Perhaps it's that they look like they will survive long enough to turn a profit.
And if it goes down a little from here will your sentiments once again flip 180 degrees? That's not the way to invest, although it's a good way not to make money in the stock market.
I hope so. Musick has always been a straight shooter and I trust him, although we know that as is true for many biotechs and software companies the founders of these orgs don't necessarily have the requisite business skills. We'll see what the new year brings. Have a great holiday and better 2021!
I bought 5000 more shares today only a little below where I sold 5000 shares a couple of months ago. I figure perhaps they are getting things together. I made sure to buy the shares in my taxable account, just in case, in a true display of my certainty.
It's quite the dichotomy. Either sell my remaining shares so I don't lose all my money or buy more because it's at a great price and 2021 will begin a long sought-after turnaround!
Hopefully, the company's stock will indeed be relisted. It will be interesting to see the price of the new shares.