May. 12 at 11:01 PM
$SENS 2 of 6: the criminal gave his friends
$0.117 per share while the market price right before the deal was
$0.579 per share (GENERATED BY AI): SENS Oct'24 deal offered stock at
$0.35 with a 5-yr warrant worth
$0.233. Actual effective share price was just
$0.117—a predatory discount compared to the
$0.579 market price right before offering. Because the shares were registered immediately with zero lock-up restrictions, these institutional purchasers instantly shorted SENS stock at the higher
$0.579 market price. They then covered their short positions using the cheap, effective
$0.117 shares handed to them by management [2.42]. This risk-free arbitrage generated millions in immediate profits for Wall Street hedge funds while triggering severe, unannounced downward selling pressure that devastated retail portfolios.
