Nov. 23 at 11:28 PM
$VRAR What’s the Limit Under Rule I.B.6?
If your float is under
$75M, you can only sell up to one-third of it via shelf registration in any 12-month period.
So:
1/3 of
$32,368,950 =
$10,789,650 = your total 12-month limit.
💸 What Have They Already Sold?
They’ve already raised
$7,286,740 using this rule in the last 12 months.
🧮 What’s Left?
$10,789,650 (max allowed) −
$7,286,740 (already sold) =
➡️
$3,502,910 remaining they can legally raise under this S-3 rule.
📢 Why It Matters for You:
They can’t tap the whole
$100M shelf unless their public float grows above
$75M.
They’ll likely use the ATM (at-the-market) facility carefully to raise this ~
$3.5M slowly, avoiding big price hits.
It also tells you how aggressive they’ve already been—over
$7M raised recently.
