Electra Battery Materials Corp. V.ELBM

First Cobalt Announces $10.0 Million ATM Financing, Warrant

[AwareInvestor]

First Cobalt Corp late last night announced that it will be undertaking an at the market offering, as well as accelerating the expiry of certain warrants. The financing itself will see the company raise up to $10.0 million in gross proceeds.

https://thedeepdive.ca/first-cobalt-announces-10-0-million-atm-financing-warrant-acceleration/

[londonsate]

Diluting again ??????????????

[Miner81]

Back to .30 c.

[andre20]

not sure why an aproximatly $.02 per share dilution would bring back the price to $.30 chance is are, it will close around .39...

[Miner81]

Nothing would surprise me to see it go to .30 again, the way stocks are manipulated these days, no matter how good they are. It should be much higher.

[andre20]

for sure, in the vulture market anythig can happen and go south in a hurry, espessially with those  juniors and many manipulation does happen. but My point here, this news should not cause the price to drop to .30...

[NatureBoy]

Excellent point, andre20...and thank you for your post.  Interesting that some members here are so freely willing to make blanket, bold proclamations such as..."back to .30 c" without any rationalization, timeframe for reference or further support; then, callously change tone and direction by posting, "nothing would surprise me to see us go to .30 again". .. only AFTER

[londonsate]

Did TM say NO DILUTION recently? Is his promise BS ? 

[Mathematiks]

I believe what he said was that he didn't WANT to dilute shareholders further. This was during an interview he had recently (I forget which one but it was very recent.) He didn't promise anything, but my rationale for this news is that they are having trouble closing the debt portion of their financing with the banks, and the banks may only be willing to extend them a line of credit if

[BarnFind]

The timeline of the refinery buildout is tight, so if the bank money requires more capital it is well worth the dilution to get the debt financing closed and keep the project on track. Just my opinion. I expect news of financing deal shortly which should push SP back up.

[Mathematiks]

Absolutely. As soon as Trent comes out and says that they have secured the loan it's game on.  We should also be expecting soon (hopefully) an announcement for a supply agreement with an OEM. I've seen lots of speculation from people here and on Reddit but nothing concrete yet from FCC. Fingers crossed!