Source item
Open original source ↗[Narrator: $BMNR of course raised this cash at a big discount, as the warrants have a large implied value themselves. Which is why their stock is down on this announcement.]
Quoted context
These are the quoted author’s words.
$BMNR raised some cash at a fantastic premium! Here are signs Bitmine Immersion may be differentiated: - Buyers are happy to pay for shares above mNAV on a consistent basis. - Institutions are happy to pay a 14% premium over the share price. - The ability to easily raise funds outside of traditional channels. - Maintaining cash piles for flexibility (price dipping under mNAV) rather just hoping the price improves. When the stock price of these treasuries is stagnant and stuck under NAV, and they have little remaining cash, they're like a sailboat in the doldrums, just hoping for a change. Hope isn't a strategy, but it's not one $BMNR needs.
Dr_Crossroads ↗