Aug. 18 at 1:04 PM
$BXBL Full disclosure, I should be the biggest cheerleader for this company bc I bought pre-IPO. There are several factors that have led me to believe that this company is heading for an RS sooner rather than later. Most important factor is lockup timining, the shares held by owners and insiders will unlock if the stock hits
$20. On the other side most of retail has preferred shares which start unlocking in 14 mos and will take 18 mos to fully unlock. TBH, pre-IPO retail has already gone thru 1 R/S when the company went public. Gallerini is going to want to cash-in all his shares way before retail ever gets a chance to unlock shares. But he has a problem and that is BXBL's cash burn which is 59M a year (I think him and his son pay themselves 1M each). BXBL had 29Mish in the bank when it went public, so that means pretty soon, if not already, they are going to be hurting for cash.