RE:conspiracy theoryChemdog wrote: just throwing it out there....
a sudden push up in the share price...then a warrant bought deal??
not saying its a coincidence, but it kinda seems that way
hey i like this company, but only 4 weeks public and playing the usual games...just a bit weird
that's all
No coincidence at all, and not all that weird. An unexplainable increase in share price will often be followed by a placement of shares, in my experience. It provides the underwriter(s) a better vantage point from which to sell the shares, in this case 'special warrants', they bought from the company to their clients. It is my understanding that the underwriters found a home for the 2,754,821 special warrants in a couple of hours. Given that the underwriters have the option to purchase up to 15% of the placement (413,223) the maximum number of special warrants issued in this placement will be 3,168,044. These will be converted immediately to shares. In addition, there will be a maximum same number of half warrants issued, which upon conversion plus $4.75, may result in 1,584,022 additional shares with the resulting $7.524 million going into the coffers. It may take a while for these warrant to be exercised, obviously. Depending on the perspective, this may turn out to be a pretty good move.