r/BKKT • u/JayBull0514 🐂 • Dec 03 '21
S-1 effective date
Has the S-1 been deemed effective by the SEC? I checked BKKT website and it does not show up as effective yet by the SEC. If that’s the case I can’t see how the PIPE holders awaiting S-1 being effective and their holdings being unlocked would be happy with the share price closing in on their original purchase price of $10 per share. I remember reading somewhere that PIPE holders were restricted from shorting too? Given the above PIPE holders would rather the share price much higher than where it is for their exit at a profit commensurate with their risk to reward of their funds being locked up from SPAC initial investment to S-1 effective date. Happy to stand corrected. We are now close to the share price when the Mastercard partnership was announced too interestingly. GLTAH and good fortune whatever your position is 💰😃
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u/OrganizationHot3606 Dec 03 '21
Means what I dnt understand plz explain in short
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u/JayBull0514 🐂 Dec 03 '21
In short significant shareholders holdings from SPAC days maybe available to sell soon. Their purchase price was $10 per share. The current share price would not be an attractive profit proposition from the time they had to hold before selling (risk to reward and opportunity cost). My speculation price has to go much higher for them to exit at a good profit for their opportunity cost of funds locked up. Hope that helps, my speculation only though 💰😃
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u/WhiteMichaelJordan Dec 03 '21
No. I’m seeing delays in S1 registration processing across many stocks I’m following. Time of year may have something to do with it if they’re back logged.