Jan. 20 at 3:34 PM
$ASTC live short interest 2.77%, wainwright has their teeth in this company
OS: 1.76M
Float: 1.60M
Market Cap:
$6.4M
• Convertible Preferred (Legacy, Non-Toxic Structure)
– Apr 2019 Series D Pref:
$1.0M @
$106.80 conv, remaining 9,363 sh possible; “customary anti-dilution,” held by CEO.
– Apr 2019 Series C Pref: Same terms, fully converted.
Interpretation: This is not variable-rate or ratchet paper. It’s legacy upper-stack insider financing, economically irrelevant unless stock ever trades >
$100. Mostly a cap table artifact, not a dilution engine.
• ATMs & Shelf
– Multiple historical ATMs (Wainwright, B. Riley) now terminated or zero capacity.
– March 2021 S-3 Shelf:
$250M capacity but baby shelf restricted — only ~
$2.24M raisable due to tiny float.
– Company has effectively no functional ATM capacity today and no fast-twitch raise mechanism without re-filing.
• Structurally Relevant Notes
– No convertible notes, equity lines, or ratchet warrants present.
– Historically raised via ATMs + RDOs, but baby-shelf + micro-float removes that playbook.
