Bullboard - Stock Discussion Forum Electra Battery Materials Corp V.ELBM

Alternate Symbol(s): ELBM

Metals & Mining Industrial Metals & Minerals

Electra Battery Materials Corporation is a Canada-based processor of low-carbon, ethically sourced battery materials. The Company is focused on building a supply of cobalt, nickel and recycled battery materials. It is engaged in the business of battery materials refining, including refining material from mining operations and from the recycling of battery scrap and end of life batteries. It... see more

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TSXV:ELBM - Post Discussion

Electra Battery Materials Corp > Share offering priced at CAD 0.25

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Post by Capitalista on Aug 24, 2021 10:32am

Share offering priced at CAD 0.25

The new shares will be offered at CAD 0.25. Not only dilutive, but a slap in the face to existing shareholders. I'm not happy about this. We may not get the bounce we expected, if many of those insiders decide to unload early for a quick profit.

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Comment by Capitalista on Aug 24, 2021 10:33am

https://ceo.ca/@newswire/first-cobalt-prices-us75-million-overnight-marketed

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Comment by Bluebron on Aug 24, 2021 10:38am

Can someone elaborate on this for me did we just get great news just to get screwed or is this normal?

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Comment by Capitalista on Aug 24, 2021 10:59am

You have reason to be blue, bron. C9.5 million in shares at 0.25 is 38 million shares. FCC typically trades less than a million shares/day. A certain percentage of those new shareholders will simply flip them (as we saw in the first minute of trading today). A further number will unload them at a higher price if that occurs - depends on their investment horizon. I ...more

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Comment by William260 on Aug 24, 2021 11:08am

Don't for get the in the money option on the convertible bond. Not impressed.

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Comment by Bluebron on Aug 24, 2021 11:13am

This Is some straight up bullshit to be honest I was holding this until financing in hopes it would propel or fail as I was leery prior to financing and I can honestly say they just made up my mind time to break even and back out of this ship. i had faith in Trent Mell but it seems he is just another business owner gain for company not shareholders

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Comment by Spankie on Aug 24, 2021 11:13am

Original Poster is saying CAD. Thats not what I read. Perhaps I dont know the difference but there is a heck of a difference between CAD and US The initial conversion rate of the Notes will be 4,058.2400 shares per US$1,000, (equivalent to an initial conversion price of approximately US$0.25 per share)

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Comment by WernerD on Aug 24, 2021 11:34am

My friend, start reading... convertible senior secured notes due December 1, 2026

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Comment by ustocks on Aug 24, 2021 11:14am

this deal might have been secured recently when FCC.V stood at 28 cents with a 10% discount you get to 25 cents what happened to the CIBC negotiations they went nowhere? I got a chunk of the offering this morning , so, I am back in.

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