RE:RE:RE:RE:RE:RE:RE:NEWS !feebleoldman wrote: The float count will double after the offering if I am reading into this correctly.
Doesn't that mean we will need 2x the price based on shares outstanding after the offering is complete to maintain today's market cap?
If so they need to make something happen within the next 5 weeks for the offering to even be worth it at 0.06CAD.
Please correct me if I am wrong.
The Corporation will be offering rights to holders of its common shares at the close of business on the record date of March 1, 2017 (the "Record Date"), on the basis of one right for each common share held. Each right will entitle the holder to subscribe for one common share of Intermap upon payment of the subscription price of C$0.06 or US$0.05 per common share. There are currently 101,344,582 common shares of the Corporation outstanding. If all of the rights issued under the rights offering are validly exercised, the Rights Offering will raise gross proceeds of approximately US$5 million, assuming all rights are subscribed and paid for in US dollars. From what i have been reading the right are usually granted to a common share owner to purchase a share at a specific prise (think of a call option). This would allow a share owner to buy a share of IMP at the set .06 price.
But then they put in that phrase:
The rights will trade on the Toronto Stock Exchange under the symbol "IMP.RT" Wierd that you can trade a right no? So is it even more similar to a call option as we can just trade the call option wihout ever having ot exercise it?