kgromax, while the Lightwave price appreciation has been powerful from standard runs on new IPO tech companies. Lightwave (from what I understand, buying my first shares in early June 2021), had fallen on a much longer than anticipated development schedule (stability of polymer and frankly the internet market had to reach bottlenecks with existing silicon photonics/materials maxed out first) before reaching they could initiate pending foundry deals. The long term folks know this history intimately, and it is now show-me time. And there will be quite a light show imho.
For comparisons, I just look at the SPAC Quantumscape (innovative solid state EV battery developer) which went public Nov 2020...at $47, hit high of $132 Dec 2020 during the EV euphoria, and it now at $24 bucks (~10B market cap). Their technology is very complex in terms of scaling it up for EV size battery production; uncertainty in final costs to produce this battery "if" they can scale it up successfully, large capital costs to build their EV battery plants is large, and last but not least, the EV battery technology competition is still HUGE and present!)
Lightwave can make their Perkinamine polymers at a very reasonably cost "in house" according to Dr. Lebby, it is patent protected, it is extremely unique and there are no known close competitors, and they have ZERO debt unlike QS who did a good size private placement in the $40s which was initiated when the stock was in the $60s.. Ouch, that didn't work out so well and a lot of investors got trapped (QS has 1.3B cash still but it has a high burn rate). Lightwave is on the cusp of announcing Foundry deals, as their application into PDKs is simple, according to Dr. Lebby. In fact he said "we do that now" at their company. So think about it, their capital costs are tiny, their application process is simple (by industry standards), they are conforming with Foundry standards, and they have little to no competition. Feels like a disruptive technology that will become "ubiquitous" across all internet applications (modulators, sensors, anywhere at the Electro-Optical interface). The writing in on the wall like I've never seen before in my lifetime. Exciting times ahead, especially those who have been patient and informed along the way.
So as you say "crazy high price" at $2.1B I don't think so at all. They could pass QS current $10B within the next 12 months once these deals are announced. Current shareholders have high confidence in Dr. Lebby, the technology, his BOD and board of elite technical advisors. Very RARE for a small company to have such as elite BOD and technical advisors to steer them correctly through their business plan and execution of a successful launch of their polymer. This elite set-up is in the clouds compared to the grit and grind of less well managed (many hyped) companies.
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