Looking at about $15.00 share price this year. Outstanding shares will be approximately 25M .
"Under the terms of the agreement, Wealthbridge will acquire Scienjoy, with Wealthbridge continuing as the listed company on the Nasdaq Capital Market. At the effective time of the share exchange, Scienjoy's shareholders will receive 16.4 million ordinary shares of Wealthbridge, valued at $10.00 per share. In addition, Scienjoy shareholders will be entitled to receive earnout consideration of up to an additional nine million Wealthbridge ordinary shares, subject to Scienjoy exceeding net income before tax targets of $20.9 million or approximately RMB140 million, $28.3 million or approximately RMB190 million, and $35.0 million or approximately RMB235 million, in 2019, 2020, and 2021, respectively, or achieving share price thresholds of $15, $20, and $25 over the next three years as set forth in the agreement. All shares held by existing Scienjoy shareholders will be subject to lock-up agreements for a period of twelve (12) months following closing of the transaction, subject to certain exceptions."
This is sweet Chardan deal. Look on the bottom of one of the articles, Chardan facilitated this SPAC deal, going to run huge tomorrow and all next week. Buy both warrants and the commons the warrants should be price at $1.00 should this reach 10 or 11 dollars but that is not where it is going to stop, with a float of possibly 300,000 no telling where this will end up.
This is what you need to look at and 200 million subscribers. Again no small potatoes.
"The combined company will have a pro forma equity market value of approximately $250 million at closing or approximately 12.6x 2019 Estimated Net Income and 9.2x 2020 Estimated Net Income, assuming no redemptions."
That paragraph right there puts the share price above 30 dollars short term. Remember "upon closing"
On the 11th ticker symbol is going to change to SJ. This is going to at least 30-40 dollars to reach it's appropriate valuation 165 million dollars in the books because of the SPAC deal. Enormous wealth is going to be created here, just to pare up those that are in the same space in China, based on the OS of 7.4 million shares, we need to hit 129 target. This aint no small potatoes. Buy yourself some commons and the warrants forget the units and the rights.
Boom, if we have to pare with those market caps, this stock will be in triple digits in no time.
"achieving share price thresholds of $15, $20, and $25 over the next three years as set forth in the agreement. All shares held by existing Scienjoy shareholders will be subject to lock-up agreements for a period of twelve (12) months following closing of the transaction, subject to certain exceptions."
Name change on the May 11th. This was a sneaky move, it is not even on radars or stock twits, this is the new game in town tomorrow and all next week. Based on market valuation this stock should be trading at 35-40 dollars in short order and possibly within 6 months triple digits, but with a low float like this possibly under 300,000 shares in the float, this could even with enough buying pressure hit triple digit dollar sometime next week.