Post by
neosceptic on Sep 09, 2022 8:38am
LPI trading resumed
Not the news I hoped, raising capital, 25M at .6. This will likely to affect % of consolidated company BRZ shareholders will get. Instead of 15.5%, we will get around 14.3%.
It is dilution, but new company need $ to opearate and so do divested companies.
With 25M cash on hand, we can weather the storm, if economy get more shaky. In any case, engineering activity is costly and we won't have to wait for appropriate financing arrives.
The delay is also explained in the news letter. So, approximate new time of merging is around Oct. 15 (my guess).