Tuesday, November 01, 2016 5:09:53 PM
They will also need to increase the OS to ensure sufficient capitalization and a market cap reflective of their cash/ assets / intellectual property / etc.
A registration statement should be forthcoming shortly as it looks like they intent to move this through the pipelines quickly. Constructing the float like that is probably to ensure the shorts don't try anything stupid...though the OS increase will gradually add to the float after the RS. There are / will be restrictions on shares being made available. I don't know what those details are, however.
Lastly, keep in mind that this will be a different company....not the one that went from $8 to 35-cents.
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