Stem Inc (STEM)

[hmmauto]

Here is the reality of the dilution.$1.43
Dilution per share to new investors $ 1.43.
It's right there in the filing..good luck, Michael

DILUTION

If you invest in our common stock, you will experience dilution to the extent of the difference between the price per share you pay in this offering and the net tangible book value per share of our common stock immediately after this offering.

Our net tangible book value as of March 31, 2014 was approximately $3.7 million, or $0.07 per share of common stock. Net tangible book value per share is equal to our total tangible assets minus total liabilities, all divided by the number of shares of common stock outstanding as of March 31, 2014. Assuming we sell 11,299,435 shares of common stock at an offering price of $1.77 per share, and after deducting our estimated offering expenses payable by us, our as adjusted net tangible book value would have been approximately $22.3 million, or approximately $0.34 per share of common stock, as of March 31, 2014. This represents an immediate increase in net tangible book value of approximately $0.27 per share to existing stockholders and an immediate dilution of approximately $1.43 per share to new investors. The following table illustrates this calculation on a per share basis:





Offering price for one share of common stock
$ 1.77

Net tangible book value per share as of March 31, 2014
0.07

Increase per share attributable to the offering
0.27






As adjusted net tangible book value per share after this offering
0.34






Dilution per share to new investors
$ 1.43