Maybe Even $9 IPOThey are going by an estimated $9 IPO, but the real issue will be what it trades at after it's shares are listed on the Nasdaq.
No history, no payor contract in place, and potentially more dilution in the future. Need to give the market better guidance if the price is to move above $10. I will wait and see what happens. This is interesting, but very long term and high risk.
We have granted a 45-day option to the underwriters to purchase up to an additional 416,666 common shares from us on the same terms as set forth above solely to cover over-allotments, if any. If the underwriters exercise their right to purchase all of such additional common shares, we estimate that we will receive gross proceeds of approximately US$28,749,996 from the sale of common shares being offered and net proceeds, before expenses, of approximately US$26,487,496 after deducting approximately US$2,262,500 for underwriting discounts and commissions, based on an initial public offering price of $9.00 per common share, the midpoint of the range shown above. The shares issuable upon exercise of the underwriter’s over-allotment option are identical to those offered by this prospectus and have been registered under the registration statement of which this prospectus forms a part.