Tuesday, June 28, 2022 12:08:37 AM
To buy warrants!
Here is the math.
Held 23,408,240 then sold, 5,000,000
=18,408,240
Then exercises 911,760 warrants bringing his total back up to 19,320,000 shares. Why that number?
The warrant agreement will not allow him to exercise the warrants if it causes him to own more than 9.8% of HYMC upon exercising.
After selling the 5 million shares, 911,760 was basically the most he can exercise right now without being over 9.8% again.
Sounds complicated but here is the stipulation.
"Based on a Schedule 13D/A filed March 28, 2022, this includes 23,408,240 shares of Common Stock and 23,408,240 shares of Common Stock issuable upon exercise of a warrant held by 2176423 Ontario Ltd (?2176423 Ontario?), Eric Sprott controls 2176423 Ontario and has the power to direct the voting and disposition of Common Stock held by the entity through his ownership interests in 2176423 Ontario. The foregoing figure for beneficial ownership excludes 23,408,240 shares of Common Stock underlying warrants held by 2176423 Ontario that are not presently exercisable due to the effect of a beneficial ownership limitation blocker. "
So Eric Sprott is signalling his intent to exercise the warrants. But, in order to do that at this point, the company would have to have 427 million shares outstanding. That is what is meant by the ownership limitation blocker.
If all of the warrants are exercised, guess how many shares Hycroft has?
422,680,018
9.8% of that total is 41,422,641.764
41422641.764-23,408,240 = 18,014,401.764 or basically close as it gets to that 18,408,240 number he had before he started exercising the warrants here.
Recent HYMC News
- Hycroft To Be Added To the Solactive Global Silver Miners Total Returns Index • PR Newswire (US) • 04/25/2024 02:00:00 PM
- Hycroft Exploration Program Defines High-Grade Mineralization Controls • PR Newswire (US) • 04/03/2024 12:00:00 PM
- Hycroft Announces Year End 2023 Operating and Financial Results • PR Newswire (US) • 03/14/2024 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/13/2024 01:00:17 PM
- Hycroft Announces Start of 2024 Drill Program Targeting High-Grade Silver Discoveries • PR Newswire (US) • 02/13/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/09/2024 09:05:44 PM
- Hycroft Delivers More High-Grade - Expands New Silver System at Brimstone • PR Newswire (US) • 01/09/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/05/2023 01:00:31 PM
- Hycroft Regains Compliance with Nasdaq Listing Requirements • PR Newswire (US) • 12/05/2023 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/28/2023 01:36:28 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/16/2023 01:05:34 PM
- Hycroft Drills Best Hole Ever - Discovers New High-Grade Silver System • PR Newswire (US) • 11/16/2023 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/09/2023 10:21:04 PM
- Hycroft Mining Announces 1-For-10 Reverse Stock Split • PR Newswire (US) • 11/09/2023 09:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/31/2023 09:12:13 PM
- Hycroft Mining Announces Third Quarter 2023 Results • PR Newswire (US) • 10/31/2023 08:30:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 10/31/2023 08:15:11 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/26/2023 12:30:37 PM
- Hycroft Mining Announces Reverse Stock Split • PR Newswire (US) • 10/26/2023 12:00:00 PM
- Hycroft Mining Finds Elevated Silver Across the Hycroft System in Phase 2 Drilling • PR Newswire (US) • 10/23/2023 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/06/2023 08:34:50 PM
- Hycroft Mining Provides Update on Nasdaq Listing • PR Newswire (US) • 10/04/2023 11:30:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/25/2023 08:05:40 PM
- Hycroft Mining Provides Update Regarding Nasdaq Listing • PR Newswire (US) • 09/25/2023 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/12/2023 09:25:09 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
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Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM