WIMI Hologram Cloud Inc. closed Monday's (3/22/2021) session up 2.96% at $8.79 per share and is currently trading at $8.53 per share pre-market.
The general consensus among Trade Club Members (www.tradeclub.org) is that WIMI is trading at a significant discount based on it's Form F1 SEC filing on March 18. In this filing WIMI proposed the following "... WiMi is offering on a best-efforts basis a maximum of 7,812,500 Units at an assumed public offering price of US$8.96 per Unit, which was the closing trading price of our ADSs on the NASDAQ Global Market on March 17, 2021. Each ADS represents two of our Class B ordinary shares, par value US$0.0001 per share. The warrants may be exercised only for a whole number of the ADSs, and no fractional ADSs will be issued upon exercise of the warrants. As a result, you must purchase the Units in multiples of two in order to obtain full value from the fractional interest of the warrants..."
We believe the incentive is sufficient to entice potential buyers make significant investments, and that stock purchases in the sub $8.96 range will be in an advantageous position.
See the entire notice here: WiMi Hologram Cloud Inc. - F-1 - - REGISTRATION STATEMENT - March 18, 2021 (fintel.io)
WIMI also has a relatively low float (7.5M shares) with a 24% short interest. Other relevant details below:
Update: WIMI just made final announcement putting the offer at $7.50 for ~11M shares vs. the prelim $ value filed of $8.96. So, we'll be in a holding pattern while those shares are absorbed.
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