I would think that is their estimated value. This sets up a per share price which they can then decide what ownership % a new investor gets for their investment.
Currently there are not enough shares in the Class A designation for Liquidity or new ownership. This means they will have to either expand the class A out to at least double or triple what it currently is. That gives them extra stock to sell in order to raise money.
I would guestimate approx 30 million shares total. Would leave the shares at $15/share and allow for new investment of $300 million dollars.
Compare to XNRGI's quoted numbers and we get orders of magnitude in energy storage for half the cost. There appears to be a lot of slop in there for both competitive pricing and profit margins. It will be interesting to see how well XNRGI competes with the existing grid scale storage companies.
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