RE:Undervalued - Yes - can people get it cheaper - YesA prospectus or issuance document would not be filed until a filing is acutally announced (except in the case of a shelf filing). So thats why you don't see a prospectus. There is a wealth of information about Zenabis in the original RTO management information circular that ran 400+ pages. Management took care to be very informative and transparent with this document.
Also, I don't think it is accurate to say that management "set up" the company to have a small float as a purpose in and of itself ; rather, this was simply a function of the prior ownership strcuture of the two merging companies (Bevo and Sunpharm). Both companies were majority owned by their founders. In the case of SunPharm, the 3 founding principals put up their own capital do start the business, with a small group of outside capital providers. In the case of Bevo, the family maintained a majority ownership in their public entity for its almost 20 year history as a public company. Combining two closely held companies and you get the low float dynamic that you see today. Nothing wrong with this, and could be actually quite positive; it shows that current management was bringing something real to the table. This dynamic is quite rare in the cannabis space; to have had founder capital be the majority of the paid in capital of the company. In many cases management owership has come from low cost options or bonus shares, with the majority of the capital coming from public investors on IPO. Which situation would you rather be aligned with?