I know why because I’m with the same problem. My company was going public and my investment bank aegis capital failed because they were not able to raise money that’s why! EF Hutton got the book oversubscribed in 2 months.
With the right investment bank they can uplist and raise capital. Aegis, Spartan weak players. They don’t have enough liquidity to close the IPO or uplisting deal. Why? Because all recent ipo and follow on offering are at 80-90% lower from the ipo or offering price. They lost all shareholder trust. That’s why! Look SBFM - stock is killed with aegis capital raise - investors lost almost all money and SBMF raise 30M
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