Replies to post #490 on Hut 8 Corporation (HUT)

[chestnut42]

I think it's because of the dilution. Someone needs to sell about 23 million shares. The warrants too. I think the pain is gonna last until the new shares are gobbled up. Soooo we might have a long wait.

"the Company issued an aggregate of 23,000,000 units of the Company (the "Units") at a price of C$5.00 per Unit for gross proceeds to the Company of C$115,000,000.00 (the "Offering"), which includes 3,000,000 Units issued with the full exercise of the over-allotment option granted to the Underwriters (as defined below)."

http://crweworld.com/article/news-provided-by-pr-newswire/2032160/hut-8-mining-announces-closing-of-previously-announced-bought-deal-public-offering-and-listing-of-common-shares-on-nasdaq