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Post by lcd on Jan 18, 2021 13:12:01 GMT
BRIEF-Oblong Inc Files For Mixed Shelf Of Upto $35 Mln- SEC Filing BY Reuters — 4:20 PM ET 01/15/2021 Jan 15 (Reuters) - Oblong Inc ( OBLG ): * OBLONG INC FILES FOR MIXED SHELF OF UPTO $35 MILLION - SEC FILING Source text: bit.ly/2LYIWfG Further company coverage:
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Post by JHam on Jan 18, 2021 14:11:14 GMT
BRIEF-Oblong Inc Files For Mixed Shelf Of Upto $35 Mln- SEC Filing BY Reuters — 4:20 PM ET 01/15/2021 Jan 15 (Reuters) - Oblong Inc ( OBLG ): * OBLONG INC FILES FOR MIXED SHELF OF UPTO $35 MILLION - SEC FILING Source text: bit.ly/2LYIWfG Further company coverage: Oh sorry, yeah the amendment didn’t change the amount. Well damn, at least it’s only a shelf. There was never a doubt that more dilution was coming at some point. Hopefully they time it with some big news. Now it makes sense though why the pps has sputtered over the last few weeks.
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Post by magnus123 on Jan 18, 2021 21:24:05 GMT
They simply used the complete allowed size of the last shelf (only $10m) and therefor filed the new one. Don't think that we will see an offering soon without a much higher share price. OBLG just wants to have it in place to conduct an opportunistic offering, if it's worth.
Edit: In my opinion.
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Post by lcd on Jan 19, 2021 13:51:23 GMT
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Post by vzveteran on Jan 19, 2021 17:20:39 GMT
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Post by JHam on Jan 19, 2021 17:38:46 GMT
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Post by magnus123 on Jan 19, 2021 21:10:07 GMT
Plus 10% even better
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Post by JHam on Jan 25, 2021 15:22:30 GMT
Plus 10% even better Hello $5. Nice to see you again.
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Post by magnus123 on Jan 25, 2021 21:30:03 GMT
Plus 10% even better Hello $5. Nice to see you again. And what a close! $5.07 hod. Are we back on track??
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Post by vzveteran on Feb 1, 2021 14:54:15 GMT
Where is the bottom? I may have to re evaluate my position.
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Post by JHam on Feb 1, 2021 16:34:34 GMT
Where is the bottom? I may have to re evaluate my position. Agreed. I’m starting to get a bit antsy with this one.
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Post by JHam on Feb 2, 2021 5:30:22 GMT
News just out at a very weird time (12:30am EST). Highlighted part is mine: finance.yahoo.com/news/oblong-inc-move-stock-exchange-042000043.htmlOblong, Inc. to Move Stock Exchange Listing to Nasdaq Beginning February 12, 2021Updated Tue, February 2, 2021, 1:20 PM·4 min read
Nasdaq listing positions Oblong alongside other market-leading technology companies with the Company’s Mezzanine™ remote meeting technology platform
Oblong, Inc. (NYSE American: OBLG) ("Oblong" or the "Company"), an award-winning leader in multi-stream collaboration solutions, today announced it will be transferring its stock listing from the NYSE American market to the Nasdaq Capital Market effective February 11, 2021 after market close. Common shares of Oblong are expected to begin trading as a Nasdaq-listed security at market open on Friday, February 12, 2021 and will continue to trade under the ticker symbol "OBLG." In connection with the Nasdaq listing, all of the Company’s preferred shares are being converted to common shares, creating a more simplified capital structure.
With a key strategic partnership with Cisco and a strong portfolio of patents, Oblong’s technology platform serves its Fortune 500 enterprise customers by allowing team members to work together in person and remotely in a unique, multi-share collaborative environment. The Company’s flagship Mezzanine™ product suite allows participants to create a digital workspace where content streams can be simultaneously added, and arranged from any location, while allowing all participants to interact with the same content in its entirety in identical formats.
"We are very excited to list on the Nasdaq, which we believe is best suited for our business focus and investors," said Peter Holst, CEO of Oblong. "In addition to joining other leading companies whose emphasis is on technology and innovation, we believe our evolution to the Nasdaq provides us different tools and services that help us connect with current and future shareholders. Being a transformational provider of collaboration experiences using multiple content streams, our next generation of visual and data collaboration solutions accelerate team decision-making, improve communication and significantly increase productivity. Mezzanine addresses a large and growing market, which has rapidly accelerated during the pandemic with the resulting demand for remote work solutions. As we expand to a hybrid cloud delivery powered by our pending Mezzanine SaaS offering, Oblong’s Nasdaq listing will help us deliver increased long-term value to our shareholders."
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Post by JHam on Feb 2, 2021 5:59:39 GMT
News just out at a very weird time (12:30am EST). Highlighted part is mine: finance.yahoo.com/news/oblong-inc-move-stock-exchange-042000043.htmlOblong, Inc. to Move Stock Exchange Listing to Nasdaq Beginning February 12, 2021Updated Tue, February 2, 2021, 1:20 PM·4 min read
Nasdaq listing positions Oblong alongside other market-leading technology companies with the Company’s Mezzanine™ remote meeting technology platform
Oblong, Inc. (NYSE American: OBLG) ("Oblong" or the "Company"), an award-winning leader in multi-stream collaboration solutions, today announced it will be transferring its stock listing from the NYSE American market to the Nasdaq Capital Market effective February 11, 2021 after market close. Common shares of Oblong are expected to begin trading as a Nasdaq-listed security at market open on Friday, February 12, 2021 and will continue to trade under the ticker symbol "OBLG." In connection with the Nasdaq listing, all of the Company’s preferred shares are being converted to common shares, creating a more simplified capital structure.
With a key strategic partnership with Cisco and a strong portfolio of patents, Oblong’s technology platform serves its Fortune 500 enterprise customers by allowing team members to work together in person and remotely in a unique, multi-share collaborative environment. The Company’s flagship Mezzanine™ product suite allows participants to create a digital workspace where content streams can be simultaneously added, and arranged from any location, while allowing all participants to interact with the same content in its entirety in identical formats.
"We are very excited to list on the Nasdaq, which we believe is best suited for our business focus and investors," said Peter Holst, CEO of Oblong. "In addition to joining other leading companies whose emphasis is on technology and innovation, we believe our evolution to the Nasdaq provides us different tools and services that help us connect with current and future shareholders. Being a transformational provider of collaboration experiences using multiple content streams, our next generation of visual and data collaboration solutions accelerate team decision-making, improve communication and significantly increase productivity. Mezzanine addresses a large and growing market, which has rapidly accelerated during the pandemic with the resulting demand for remote work solutions. As we expand to a hybrid cloud delivery powered by our pending Mezzanine SaaS offering, Oblong’s Nasdaq listing will help us deliver increased long-term value to our shareholders."I'm trying to calculate how many shares will be added to the float come Feb 11th. Am I misreading the recent S-3 or are there some glaring typos? --- Common StockThe holders of our common stock are entitled to one vote per share on all matters to be voted upon by the stockholders. There are no cumulative voting rights, so the holders of a majority of the outstanding shares have the ability to elect all of the directors. Subject to preferences that may be applicable to any outstanding preferred stock, the holders of common stock are entitled to receive ratably any dividends that may be declared from time to time by our board of directors out of funds legally available for that purpose. In the event of our liquidation, dissolution or winding up, the holders of common stock are entitled to share ratably in all assets remaining after payment of liabilities, subject to prior distribution rights of preferred stock then outstanding. The common stock has no preemptive or conversion rights or other subscription rights. There are no redemption or sinking fund provisions applicable to the common stock. All outstanding shares of common stock are fully paid and non-assessable, and shares of common stock to be issued upon the closing of this offering will be fully paid and nonassessable.As of January 13, 2021, of the 150,000,000 shares of common stock currently authorized, there are approximately 7,748,629 shares of common stock issued and outstanding and an aggregate of approximately 22,696,664 additional shares reserved for issuance in connection with (i) awards outstanding to acquire approximately 137,031 shares of common stock, which include (but are not limited to) awards issued under our 2007 Stock Incentive Plan and our 2014 Equity Incentive Plan, (ii) 3,013,500 shares of common stock reserved for issuance in connection with future awards under our 2019 Equity Incentive Plan, (iii) approximately 20,843 <--- different than what they write below shares of common stock issuable upon conversion of our outstanding Series A-2 Preferred Stock (as defined below), (iv) approximately 17,029,000 <--- must be a comma typo (see below) shares of common stock issuable upon conversion of our outstanding Series D Convertible Preferred Stock (as defined below), (v) approximately 34,000 shares of common stock issuable upon vesting and conversion of our restricted shares of Series D Convertible Preferred Stock, (vi) approximately 1,315,790 <--- another comma typo? shares of common stock issuable upon conversion of our outstanding Series E Convertible Preferred Stock (as defined below), and (vii) 1,146,500 shares of common stock issuable upon exercise of issued and outstanding common stock purchase warrants.Because here it says...Currently, we have:
•7,500 shares of Series A-2 Convertible Preferred Stock, par value $0.0001 per share (the “Series A-2 Preferred Stock”), authorized, 45 of which are issued and outstanding;•100 shares of Perpetual Series B Preferred Stock, par value $0.0001 per share (the “Series B Preferred Stock”), authorized, none of which are issued and outstanding;•100 shares of Perpetual Series B-1 Preferred Stock, par value $0.0001 per share (the “Series B-1 Preferred Stock”), authorized, none of which are issued and outstanding;•4,000 shares of Series D Convertible Preferred Stock, par value $0.0001 per share (the “Series D Preferred Stock”), authorized, none of which are issued and outstanding;•2,800 shares of 0% Series B Convertible Preferred Stock, par value $0.0001 per share (the “Series B Convertible Preferred Stock”), authorized, none of which are issued and outstanding;•1,750 shares of 0% Series C Convertible Preferred Stock, par value $0.0001 per share (the “Series C Convertible Preferred Stock”), authorized, none of which are issued and outstanding;•1,750,000 shares of 6.0% Series D Convertible Preferred Stock, par value $0.0001 per share (the “Series D Convertible Preferred Stock”), authorized, 1,702,900 of which are issued and outstanding with an additional 3,400 reserved for issuance upon the satisfaction of certain vesting conditions; and•175,000 shares of 6.0% Series E Convertible Preferred Stock, par value $0.0001 per share (“Series E Convertible Preferred Stock”), authorized, 131,579 of which are issued and outstanding.
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Post by magnus123 on Feb 2, 2021 10:03:04 GMT
Listing on Nasdaq is definitely positive. But the share count.... The last 10K clearly says, if it's correct that the Series D will result in issuance of 17,029,000 shares of common stock and the series e of 1,315,790 common stock.
If that is true, the total share count would be 26,093,419. I send an email to Stephen Vobbe for clarification.
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Post by JHam on Feb 2, 2021 10:10:22 GMT
Listing on Nasdaq is definitely positive. But the share count.... The last 10K clearly says, if it's correct that the Series D will result in issuance of 17,029,000 shares of common stock and the series e of 1,315,790 common stock. If that is true, the total share count would be 26,093,419. I send an email to Stephen Vobbe for clarification. god...that’s gotta be a typo. How could it not be? Could they really have more than twice the current amount of o/s in preferred shares?? It’s peculiar that they’ve written it with one less “0” (1,702,900) in two other spots in the S-3, when referring to the Series D. I imagine it’s the same in the 10K, but I can’t check it til I get home later. The easiest way to find out is to go back and check at the time when they issued these preferred shares. If it truly is $17M then I’ll cut and run. Nice to see that it’s up pre-market. Thanks for emailing him. Please keep us posted.
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Post by magnus123 on Feb 2, 2021 10:23:02 GMT
For example: The series D has a conversion price of $2.85 and a liquidation value of $28.50. You really have to multiply the number of preferred stock with 10...
That means that OBLG will be soon a stock with at least 25.931.109 common stock outstanding, given the latest prospectus.
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Post by magnus123 on Feb 2, 2021 10:24:48 GMT
Listing on Nasdaq is definitely positive. But the share count.... The last 10K clearly says, if it's correct that the Series D will result in issuance of 17,029,000 shares of common stock and the series e of 1,315,790 common stock. If that is true, the total share count would be 26,093,419. I send an email to Stephen Vobbe for clarification. god...that’s gotta be a typo. How could it not be? Could they really have more than twice the current amount of o/s in preferred shares?? It’s peculiar that they’ve written it with one less “0” (1,702,900) in two other spots in the S-3, when referring to the Series D. I imagine it’s the same in the 10K, but I can’t check it til I get home later. The easiest way to find out is to go back and check at the time when they issued these preferred shares. If it truly is $17M then I’ll cut and run. Nice to see that it’s up pre-market. Thanks for emailing him. Please keep us posted. It absolutely makes sense when you a look at liquidation value of $28.50 and conversion price of $2.85. It's sadly not a typo, in my opinion...
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Post by magnus123 on Feb 2, 2021 10:27:52 GMT
It simply means that current shareholders will be almost wiped out at price of $2.85 ( see it as an offering price)
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Post by JHam on Feb 2, 2021 10:33:43 GMT
god...that’s gotta be a typo. How could it not be? Could they really have more than twice the current amount of o/s in preferred shares?? It’s peculiar that they’ve written it with one less “0” (1,702,900) in two other spots in the S-3, when referring to the Series D. I imagine it’s the same in the 10K, but I can’t check it til I get home later. The easiest way to find out is to go back and check at the time when they issued these preferred shares. If it truly is $17M then I’ll cut and run. Nice to see that it’s up pre-market. Thanks for emailing him. Please keep us posted. It absolutely makes sense when you a look at liquidation value of $28.50 and conversion price of $2.85. It's sadly not a typo, in my opinion... I need to re-look at it but I trust your opinion. Contemplating getting out here pre-market. Not worth the risk.
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Post by magnus123 on Feb 2, 2021 10:33:51 GMT
Although it's possible that they adjust the conversion price. If they adjust the conversion to the latest close, it would significantly reduce dilution.
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