UNQL There is a proposed offering for $37m in funding, conditional upon uplist approval to NASDAQ. In order to fund this MERGE without taking on anymore toxic debt, they intend to raise $37 million with EF Hutton as its investment banker (IPO) in a public offering to accredited and institutional investors.
The purchase price of these shares isn't determined, and could be at a substantial improvement due to the current PPS and ballance statement change.
The first step would be for UNQL to be approved for uplisting to NASDAQ. Keep in mind absolutely NO R/S if our common stock is not approved for listing on Nasdaq. Quote: ” We will not proceed with this offering in the event our Common Stock is not approved for listing on Nasdaq.
If UNQL is approved to the Nasdaq, and if the proposed offering is then approved, there would likely be a r/s to accomplish this. The actual purpose is to increase the price to qualify for market uplistings. The end result would be in favor of stakeholder. None of this is dilutive behavior occurs because it is all conditional upon NASDAQ uplist being approved. There would be an r/s as part of this, but not the scary kind- only to allow minimum pricing for NASDAQ uplisting.
Bottom line I view this is a solid investment opportunity. This is BY FAR one of the most ridiculously undervalued stocks I have ever seen!!!
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