Netlist Inc. (OTC:NLST) Stock Falls 20%: What Happened?
Following a significant new announcement from Netlist Inc. (OTC:NLST) about a registered direct offering, the stock suffered from a selloff and declined by 20% on Friday. It may be a good time to take a closer look and figure out if a recovery could be on the horizon this week.
What Happened?
The company announced that it had gone into a definitive agreement for the sale and purchase of 13636364 shares of its common stock. Additionally, Netlist would also offer Series A warrants to pick up 13636364 shares of the common stock and Series B warrants to buy another 13636364 shares of the common stock.
Investors who purchase a share of the common stock would get a Series A warrant to buy a share of the common stock and a Series B warrant to pick a share of the common stock.
Key Details
The Series A warrants would have an exercise price to the tune of $1.30 per share and could be exercised immediately. The warrants would expire five years following the date of issuance. The Series B warrants would bear an exercise price of $1.10 a share and could be exercised immediately. The warrants would expire 100 days following the date of issuance. The company also announced that the offering would be closed on October 14, 2024.
Fundamentals
| P/E Ratio | -4.42 |
| PEG Ratio | -58.02 |
| Price to Book | -1,535.21 |
| Price to Cash Flow | – |
| Price to Free Cash Flow | – |
| Total Sales (TTM) | 122.80 M |
| Revenue per Share (TTM) | 0.48 |
| Shares Outstanding | 257.893 M |
| Share Float (%) | 252.43 M (97.88%) |
| % Held by Institutions | 0.13 |
