Anyone curious how Biocept was able to raise $16 million dollars on March 2nd and Marck 6th.
Biocept did a raise in December 2019 and then reduced warrants that were issued in previous financings from $1.5 to .32 in January 2020.
Biocept was losing money hand over fist.
As stock markets were crashing and Biocept's business looking to suffer even more due to the beginning of the pandemic something miraculous happened;
Then, on Febuary 28th the stock price mysteriously shot up almost 300% from .30 to .78. - and the next day they announced a financing.
Sabby, a previous investor only bought financings with warrants. Sabby owned less than 500,000 shares as of feburay 28th
Sabby participates in Biocepts offering at .40 (the stock crashed from .78 to .40 the minute the financing was announced)
According to a March 2nd filing Sabby's position increses to 9,000,000 shares.
The March 2nd financing was so oversold that Biocept did another finacing on March 6th because the first financing was so oversubscribed!
Anyone curious why institutions like Sabby would buy so many shares of Biocept, without getting a warrant, a small cap Company in the liquid biopsy space that was losing $6 million dollars a quarter which was going to get worse as the stock markets were crashing at the beginning of the pandemic?
Did CEO Nall perhaps leak some beneficial non public information to select institutions?
Stay tuned! Nall is a scammer that committed multiple frauds on investors which ultimately screwed shareholders, crashed the stock price where he then issued himself about 250,000 options at $4.50 strike price.
