Dec. 29 at 4:30 PM
$PONGF I have not heard from others, but I am going to stick to my guns Wade takes Atari to the USA.
A US IPO is less expensive and more lucrative. He would enter a US IPO with a clean balance sheet, an accounting team ready to do quarterly reports and meet all SEC requirements, and with tailwinds of positive PR behind him and the company to fuel initial investment interest.
Going private means he needs to buy another 273M shares and even at .19 cents per share, he is out another 50M...and if Atari does not make a profit fast, he (IRATA LLC) is out a lot of dough. US markets love tech companies and Americans love a comeback story. Wade could sell off some of the stock, make his money back, keep the balance sheet in the black, and still retain majority control.
So, despite the uncertainty, I am going to side with business logic and remain bullish on Atari for 2026-27. Given that he did not offer PONGF the friendly tender offer, I believe we will be able to transfer shares