Jul. 31 at 7:04 PM
$SNAL 🚨 Snapshot
Market Cap:
$41.7M
Enterprise Value (EV):
$3.98B
Float: 8.09M shares
Outstanding Shares: 37.21M
🧾 Warrants (Outstanding Only)
– 323K Aug 2023 Note warrants @
$1.89
🛡 Customary anti-dilution protection
🧾 Convertibles (Outstanding Only)
– 660K shares from Feb 2025 note @
$5.00 (variable rate)
↳ Conversion price = lesser of
$5.00 or 92% of 5-day low VWAP
🛡 Variable rate with downside protection
📦 Shelf (Sept 2024)
– Raisable:
$4.44M
– Total Shelf:
$50M
– Baby Shelf: ✅ Yes
– IB6 Float Value:
$13.32M
– 60-Day High Close:
$1.57
– Price to lift cap:
$8.84
🔍 Key Takeaways
– Small active convertible + modest warrant stack
– Baby shelf limits raise flexibility; price must rise >
$8.84 for unrestricted access
– Company is cashflow positive but still equity-dependent in a low-float setup
– ~
$5M equity line (Alumni) still untapped
