Wave has found a willing shareholder base and they are accomplishing a retail PIPE through the ATM which if done in a considered fashion effectively allows the loyal base to own the dilution.
But its Lee. That would be too decent. I can't see it. And yes, there needs may well exceed that which the loyal base can support at the retail level.
The cynical interpretation is that long cheerleaders are currently selling share to Mig et al knowing that they have a PIPE with warrants to buy with the money they got selling stale shares to Mig.
What I don't understand is why weren't bonuses $2m?, $3m?, or the likely $10m? awk thinks is about right or the $40m? that barge seems to support?
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