Feb. 3 at 5:29 PM
$TNXP to those posting that Seth has been non-stop diluting in January, we have our answer: he has not.
I posted a while back when the Point72 offering was completed that Tonix was barred from selling shares for 30 days with some exceptions, but it wasn’t clear if the ATM was an exception to that covenant.
Per today’s 8k we get a fresh view of shares outstanding as of Jan 30th, and it is only 5,883 shares more than after the Point72 deal
Was completed. The Point72 deal was completed at the end of December, so there may have only been 1 day the ATM could be used (I.e. 1/30/26), and only 5,883 shares were issued.
My guess is some portion of daily cash use is covered with the ATM based on some set point share price. What’s good about that, is with Tonmya sales quickly ramping, it should minimize even small drips of ATM…but we really don’t know. I’m just piecing together the data points we do have.
But one thing is clear: there was not “nonstop dilution” in January.
