Dec. 29 at 1:10 PM
$RKDA live short interest 2.84% , been on a nosedive towards 2.50 critical support
Shares: 1.37M OS / 1.36M float
Market Cap: ~
$3.6M
Cash: ~
$4.6M (est.)
Outstanding Warrants (active / relevant):
• 666,334 @
$9.00 (Mar 2023 Series A)
• 118,063 @
$9.00 (Aug 2022)
• 666,334 @
$9.00 (Mar 2023 Series B — expired Sept 2024)
• 65,466 @
$9.00 (Dec 2020)
• 18,133 @
$9.00 (Sept 2019)
Total meaningful warrants near current zone:
~868,000 warrants @
$9.00 strike
High-strike legacy warrants (functionally irrelevant at current prices):
• 98,460 @
$125.20
• 34,808 @
$191.00
• 16,035 @
$154.00
• 12,757 @
$200.00
• additional 2018–2020 issues above
$400
Completed:
(1)January 2021 RDO
• Method: Registered Direct Offering (S-3)
• Shares Issued: 7,876,784 @
$3.19
• Warrants: 3,938,392 (1:2 coverage)
• Gross Proceeds:
$25,146,633
• Banker: HC Wainwright
• Buyer Base: 3i, Alpha Capital Anstalt, Alto, Anson, BPY, Boothbay, Brio, CVI, Cavalry, Empery, FiveT, Hamilton Stuart, Intracoastal, Iroquois, Kingsbrook, Lind Global, MMCAP, Nomis Bay, Sabby
• Comment: foundational dilution event, reset the float and embedded years of overhang
(2) December 2020 RDO
• Method: Registered Direct (S-3)
• Shares Issued: 2,618,658 @
$3.06
• Warrants: 2,618,658 (full coverage)
• Gross:
$8,000,000
• Banker: HC Wainwright
• Buyer Base: Alpha Capital Anstalt, Armistice, Bigger Capital, Brio, Cavalry, District 2, FiveT, Intracoastal, Iroquois, L1
• Comment: dilution stack continuation, sets stage for further resets
(3) September 2019 RDO
• Method: Registered Direct (S-3)
• Shares Issued: 1,489,575 @
$4.91
• Warrants: 1,489,575
• Gross:
$7,313,813
• Banker: HC Wainwright
• Buyer Base: Anson, Armistice, CVI, Hudson Bay, Intracoastal, Sabby
• Comment: start of the multi-year recycle of the same investor cohort
(4) August 2022 RDO
• Method: Registered Direct (S-3)
• Shares Issued: 4,722,506 @
$1.06
• Warrants: 4,722,506
• Gross:
$5,005,856
• Banker: HC Wainwright
• Buyer Base: Armistice
• Comment: aggressive pricing reset; cost basis anchor for Armistice
(5) March 2023 “Private Placement”
• Method: PIPE (not ATM / not public book)
• Shares: 666,334 @
$9.00
• Warrants: 1,332,668 (200% coverage)
• Gross:
$5,997,006
• Banker: HC Wainwright
• Buyer Base: Armistice (concentrated)
• Comment: primary reference price for today’s
$9.00 warrant grid
(6) IPO — November 2021 (context, not driving current structure)
• Shares: 2,160,000 @
$10.00
• Warrants: 4,320,000
• Gross:
$21,600,000
• Bankers: Dawson James, I-Bankers
• Comment: initial capital raise but legacy now irrelevant for price context
