If everyone exercises their warrants ….
That’s another 32 million shares added to the O/S, on top of the 48 million added, to the existing 17 million, to total (and cap) at 97 million shares if everything gets filled and exercised in this offer.
But in terms of funding:
They’d be bringing in $9.6 million in funding for the 48 million shares (at an average of $0.20 per share, from units at $0.60 average, as each unit is 3 shares).
And they would be bringing in another $8 million in funding from the 32 million shares added (if all warrants are exercised), since those are purchased at exactly $0.25 per share as an option to the ones investing in this offering. $0.25 per share * 32 million shares = another $8 million in funding.
Total funding being brought in is $17.6 million for the 80 million total shares (48 mil + 32 mil) being added to the existing O/S.
End result: 97 million total O/S (after 80 million shares added), and the company gets over $17 million total funding to help grow and expand.
They obviously aspire to be a $500 million (annual) company one day. It’s why they went public. They were doing $87 million audited revenue (year 2021 audited) as a private company. They went public to aspire to scale their business to several hundred million revenue per year. The trade-off is a higher O/S for shareholders, but 90+ million total O/S is still very small overall for a company who is attempting to grow and bring in $500 million in revenue (per year) down the road. They brought in $40 million last quarter, and we know Q3 and Q4 are even better than Q2 in the trucking industry.
