Mar. 31 at 11:43 PM
$UBXG "This scam stock only pushed its closing price above
$3.32 to facilitate a
$50 million capital increase. This move was a deliberate attempt to bypass the 'Baby Shelf Rule' and secure the full offering amount."
The Rule: SEC Form F-3, Instruction I.B.5 (The "Baby Shelf Rule")
The One-Third Cap:
Companies with a public float of less than
$75 million are subject to the 'Baby Shelf Rule' under Instruction I.B.5 of Form F-3 (or S-3). This rule restricts the amount a company can raise through a shelf registration to no more than one-third (1/3) of its total public float in any 12-month period.
Calculation for UBXG:
Public Float: 22,635,108 shares.
Threshold Price: To exceed the
$75M public float requirement and lift the 1/3 cap, the stock price must be at least
$3.32 (
$75,000,000 ÷ 22,635,108 shares).
