Well I said this was a zero or 10x. Right now it’s looking like the former.
This is a kitchen sink financing, a solid 40% below yesterday’s closing price and well below the 20 day average price. They’re raising $60m to stem the burn and they simply do not care about the stock price right now.
Shares are off by 35%.
Helios & Matheson prices 8,261,539 units (w/ each unit consisting of one common stock, one Series A warrant, and series B warrants) at $6.50/unit
Co announced the pricing of a best efforts underwritten public offering of an aggregate of 8,261,539 Series A units, with each Series A Unit consisting of (i) one share of the Company’s common stock, par value $0.01 per share, and (ii) one Series A Warrant to purchase one share of Common Stock; and (B) 969,230 Series B units , with each Series B Unit consisting of (i) one pre-funded Series B Warrant to purchase one share of Common Stock and (ii) one Series A Warrant, with anticipated gross proceeds of ~$60 mln, before deducting underwriting discounts and commissions and estimated offering expenses payable by HMNY
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