Well let’s take Oceanside as an example. They have two SEC filings in total. One is a 13G from 2018 for VERB when they were a >5% holder. They have not filed any 13F’s...and have no other ownership filing for Verb since early 2018. They provided convertible debt.
Post split and post offering, they are likely no longer a 5% holder. And that lack of 13F’s suggest they are not “institutional”. There is no evidence they participated in the offering.
Once the dust settles this week we should have a fuller sense of the “institutional” holders Rory so actively pushed during the pre-offering hype.
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