Organovo Holdings, Inc. (ONVO)

[WHP03]

ONVO has raised $74 million of their entitled $190 million SHELF REGISTRATION. That's 39%, leaving 61% ($116MM) to go - not $21.9MM.

Not saying $4 would be the price, but if on avg the remaining $116MM was raised at $4/share (net), that would be an additional 29MM shares added to the outstanding share count. If $3/sh it would be 38.7MM additional shares. If $5, it would be 23.2MM shares.

Here is what I received last year directly from ONVO when I asked about the Shelf Registration:

To be clear, shelf registrations speak to aggregate dollars ($), not shares. Therefore, ONVO's February 2015 shelf registration is for an aggregate $190M. Since this shelf was filed, three transactions have occurred as outlined below:

1) June 2015 equity offering - ~11M shares and $43M
2) F2Q17 ATM draw (announced in our earnings pre-release) - ~1M shares and $4.5M
3) October 2016 equity offering (based on figures in today’s 8-K) – ~10M shares and $26.5M

Taking all this together, the total draw to date (as of Nov 2016 Secondary) against this shelf registration has been ~$74M and 22M shares. All of this information is typically detailed in ONVO's 10-Q and 10-K filings.