Meta Materials Inc (MMAT)

[JamesE_]

MMTLP is Meta's Series A Preferred Stock.
MMAT owns Next Bridge Hydrocarbons, an oil and natural gas "emerging growth company."
Meta will do a 1-for-1 exchange of MMTLP for shares of Next Bridge. In other words, Meta is issuing shares of a non-public oil/gas company as a dividend to its preferred stock shareholders, then canceling its preferred stock. There are 165.5M shares of MMTLP, about half of the outstanding shares of MMAT.

The MMTLP squeeze seems inevitable because shorts and FTDs *must* be closed out over the next 2 weeks. MMAT has been trading at 20% of MMTLP; It could lag even further behind because MMAT is on the big board and subject to halts and other monkey business. However, it'll look like an even bigger bargain to those flush with new cash. I believe as the MMTLP squeeze comes to an end, MMAT could be just getting started...

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