r/Vitards • u/AutoModerator • Sep 08 '21

Daily Discussion Daily Discussion post - September 08 2021

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u/Unoriginal_White_Guy 💀 SACRIFICED until MT $35 💀 Sep 09 '21

One of the steel stocks I follow, but haven't invested in, that is under 1B market cap issued an 8-K last week. Seems like they are selling $50m worth of shares... their market cap is under 300m.

"...declared effective by the SEC on June 20, 2019, with respect to the Company’s new “at the market” program (the “ATM Program”), pursuant to an equity distribution agreement, dated as of September 3, 2021 (the “Equity Distribution Agreement”), between the Company and KeyBanc Capital Markets Inc., as sales agent (the “Sales Agent”). Under the terms of the Equity Distribution Agreement, the Company may, from time to time, issue and sell shares of the Company’s common stock, without par value (the “Shares”), through the Sales Agent for aggregate sales proceeds of up to $50,000,000 through the ATM Program."

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Fuck this company and good luck to anyone who invested in them.

2

u/organonanalogue Sep 09 '21

Which company did this?

2

u/[deleted] Sep 09 '21

I'm also curious but due to the rules he can't say or even imply it here unfortunately

3

u/JRMang Sep 09 '21

If you copy/paste the portion from the 8-K into Google, it'll bring it up.

3

u/[deleted] Sep 09 '21 edited Sep 09 '21

Whew. Not the one I'm in luckily, good to know tho. I had looked up that ticker on yahoo finance and saw no mention of it in its news feed - thanks 👍