Aegis is an underwriter. An underwriter buys the entire offering and immediately sells to their clients. They are the first step in how the stock gets to the market.
And that stock ONLY enters the market when it is sold at a discount to the underwriter…otherwise why would someone buy into the offering if they can get the stock in the market at the same price.
Now there is one sweetener that will help and that is the warrants which can be immediately separated and will be publicly traded. That does offset the pricing risk a little.
We will get a sense of the potential discount when the RS occurs. Because the offering will have to be done at at least $3.00 in order to meet the initial listing requirements of Nasdaq. So if they RS to say $6, and assuming it holds at that price post RS…the discount could be up to but no more than 50%.
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