Harder to finance Candiac#2 now that issuing shares at these levels might not be practical at all. Sure issuing shares at ~$3.50 might have made some sense (even if it would have meant significant dilution to our Nano shares). But now ~$3.50 is light years away and even with a major rally, those levels might not be seen again for years to come.
So all Nano can now do is take on debt and pray for more government support. I hope between the federal and provincial governments Nano can raise $75 MM USD in new grant money. However that is probably wishful thinking to say the least.
Which means Nano is likely about to take on near $150MM USD debt (with no rate cuts in sight). That's basically almost the equivalent of their entire market cap.
Any upcoming positive news releases from Nano One will be tempered very quickly once Nano One releases their plan to finance Candiac#2.
Or alternatively, perhaps we start hearing language from the Nano One team that begins to hint at mothballing Candiac#2. Likely a wise move if they go that route but the Nano team would know best.
There is no floor for the Nano One share price since they have no business yet for the markets to evaluate their share price against. Nano One are just a team of very popular egg heads with $40MM CAD in the bank.
Hopefully one of their good friends in the supply chain throws them a bone very soon. Or else they'll be needing someone else (possibly not a friend) to throw them a life preserver...