chuckjackson
Oct 3, 6:49 PM
$LUCD $PAVM I believe pavm has pretty much tapped out the latest atm unless the stock price goes up significantly. Public float is about 4.1M. Public float market cap is about
$11.767. Because of the baby shelf rule, they can only run the atm for a third of the public float market cap over a 1 year rolling period. So they can extract only
$3.92M. During 4/1/26 to 6/30/26, they raised
$1.2-1.4M. During 7/1/26 to 8/13/26 they raised
$2.8M. So even though they initiated a new
$9.4M atm, they are unable to sell an additional shares until 4/1/27 to 6/30/27 or is the stock price goes up because of the crash in the stock price.
In terms of liquidity, the cash balance at the end of June 2026 was
$3.8M +
$2.8M from the atm in Jul-Aug along with monthly cash burn of
$900K means they are out of cash by Feb 2027.
I don't think they can sell too many of theit lucd shares because of minimum shareholder equity requirements (I will need to do the calculation).
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