I already answered this question in an earlier post. But I've re-posted it again for your review. (See below)
The bottom line is that LTBR is selling shares on the open market to raise much needed capital. This new cash infusion (I estimate it to be around 10 million shares sold) gives LTBR the ability to fund their portion of the JV with Areva.
So, if LTBR sold an additional 10 Million shares, that means the next 10-Q should so the float to be around 21 million shares. 10 Million shares x an average of $1.50 = $15 million
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On July 12, 2017, Lightbridge Corporation (the “Company”) entered into an at-the-market issuance sales agreement (the “sales agreement”) with FBR Capital Markets & Co. and MLV & Co. LLC (together, the “Distribution Agents”), pursuant to which the Company may issue and sell shares of its common stock from time to time through the Distribution Agents as the Company’s sales agents. Sales of the Company’s common stock through the Distribution Agents, if any, will be made by any method that is deemed to be an “at-the-market” equity offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, pursuant to the Company’s effective shelf registration statement on Form S-3 (File No. 333-204889) filed on June 11, 2015 with the Securities and Exchange Commission (“SEC”), the base prospectus filed as part of such registration statement and the prospectus supplement dated July 12, 2017.
Each time the Company wishes to issue and sell common stock under the sales agreement, the Company will provide a placement notice to a Distribution Agent containing the parameters in accordance with which shares are to be sold, including, but not limited to, the number of shares to be issued and the dates on which such sales are requested to be made, subject to the terms and conditions of the sales agreement. Subject to the terms and conditions of the sales agreement, the Distribution Agents will use commercially reasonable efforts consistent with their normal trading and sales practices to sell the Company’s common stock from time to time, based upon the Company’s instructions (including any price, time or size limits the Company may impose pursuant to the terms of the sales agreement). The Company is not obligated to make any sales of common stock under the sales agreement and may terminate the sales agreement at any time upon written notice. The Company will pay the Distribution Agents a commission of up to 4.5% of the gross proceeds from each sale. The Company has provided the Distribution Agents with customary indemnification rights.
