Sep. 27 at 8:20 AM
$VOR to the shorts waiting for dilution: Do you guys understand the "dilution blocker" of the warrants? Here AI about the Venrock filing:
"Despite holding warrants for nearly 5 million shares, the Beneficial Ownership Blocker limits the Reporting Persons from exercising them beyond a threshold:
Ownership cap: 9.99% of the Issuer’s outstanding common stock.
Current exercise limit: 760,699 shares total across all entities.
This means they can only exercise a portion of their warrants to stay under the 9.99% cap, regardless of how many they technically hold."
No one can convert the warrants without the other holders because the share of the company would be quickly above 9.99%. Until they all convert together: low float and possible transformative news on the horizon.
Be careful.