Valuations start @ 0.85/shareRecent financing sold shares at 0.85, before opening trading on the general market to insiders and exempt investors (HNW, institutions, etc..) who were eligible.
Today's trading marks the beginning of the catch-up to value for the market, and this will take time. There are surely long-suffering LND shareholders who just want to get out today and this week, and that will keep a lid on the price for a short while, I expect.
But the
volume today also speaks to significant buying interest.
Over 3.4 Million shares as of writing.
For buyers of these shares, the expectation of company renewal and growth, based on the information released by the management team, is clear.
Some highlights from today:
- Cap Table and Concurrent Financing: SGMD has approximately 63.8 million shares (on a partially diluted basis)** upon commencement of trading, with over 30 million shares either restricted or held by management or advisors.
- Shares were sold in the Company's December 2020 concurrent financing (post-consolidation) at as high as $0.85 per share.
- M&A Capacity: Salona Global has a deep and full pipeline of private firms that are discussing a potential acquisition by Salona Global -- all medical device companies with between $5M - $20M in revenues with positive cash flow.
- The Salona Global team believes it has the capacity to close 1-2 acquisitions per quarter starting Q2 2021.