Aug. 26 at 8:41 AM
$TRIB It seems the
$2.5M is Perceptives final dev stage cash injection.
So, Trib must have visibility of fresh funds - almost certainly in conjunction with a major deal, likely CGM. Directly – funds that come with the deal or indirectly – a cash raise after the shares shoot up in value after such a deal. Likely both. Plus
$4.6M from the Lucid ATM that is still untouched. We could have 3rd party investors lined up to take a stake post deal\share price rerating.
When? Obviously, it was not going to happen in the week or two after the
$2.5M or less would have been required. How long will
$2.5M last? Based on Trib’s run rate cash burn the
$2.5M should last until mid-late October.
But, drop-dead date is Oct 1 so mid-late Sept looks most probable.
Trinity is skint, they had less than
$1M in the bank in each of May, June and July. But they were suddenly confident enough to scrap Yorkville and now make very expensive hires.
Estimate – deal mid-late Sept with a major share re-rating >
$40
