Wednesday, December 15, 2021 11:56:43 AM
1. 85M common stock
2. 58M of pre funded warrants in lieu of common stock
3. 142M of warrants with an exercise price of 7 cents, which was reduced to 4.54 cents in the 8-k on 3/8/2021
The Prospectus on 2-22-2021 actually, says "We are also offering pre-funded warrants to purchase up to 57,857,143 shares of common stock to such purchaser, in lieu of shares of common stock that would otherwise result in such purchaser’s beneficial ownership exceeding 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock"
This investor with 10M of liquid cash to invest did not want to be made public and as such took the pre-funded warrants over CS... This investor would have to have 100's of millions if not billions to invest 10M into a company, and must be looking for huge returns... They would have had to sell another stock and pay capital gains inorder to free this cash up to invest... As such, they must expect a huge return once SWARM is up and running.
On another note, today is the last day for them to exercise some of their options "Includes 115,936,073 shares which may be purchased by Mr. Van Noy pursuant to stock options that are exercisable within 60 days of October 19, 2021" (PRE 14C 10-20-2021)... I expect that the price of the stock will increase substantially from now until the end of the year...
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