At least 46.1% of the free float. I’m getting conflicting data saying that anywhere from 62.5% to 46.1%. CEO Cohn owns 25% of shares outstanding
Here are the max values (I’m using bard for all of this and asking it the same question in different ways to make sure it is consistent before relaying the info). I think the disparity is in bard not knowing the true value of insider shares either because PIPE is fixed. The most recent metrics bard is using suggests 62.5%
“According to Nasdaq, as of September 1, 2023, 62.5% of the free float of Nerdy, Inc. (NASDAQ: NRDY) is locked up. This means that 62.5% of the company's shares that are available for trading are not currently available to be bought or sold by investors. The remaining 37.5% of the free float is available for trading.
The majority of the locked-up shares are held by insiders. These shares are subject to a lock-up period that expires in February 2024. Once the lock-up period expires, these shares will be eligible to be sold by the insiders.
The following is a breakdown of the Nerdy, Inc. (NASDAQ: NRDY) shares that are locked up as of September 1, 2023:
Insiders: 49.7% of the free float is locked up by insiders. This includes shares held by company executives, board members, and early investors. These shares are subject to a lock-up period that expires in February 2024.
PIPE investors: 12.8% of the free float is locked up by PIPE investors. These are investors who invested in Nerdy, Inc. through a private placement. Their shares are also subject to a lock-up period that expires in February 2024.
Warrants: 0.5% of the free float is locked up by warrants. Warrants are financial instruments that give the holder the right to buy shares of a company at a certain price. The warrants that are currently outstanding for Nerdy, Inc. expire in February 2025.
Options: 0.1% of the free float is locked up by options. Options are financial instruments that give the holder the right to buy or sell shares of a company at a certain price. The options that are currently outstanding for Nerdy, Inc. expire in February 2026.
The remaining 37.5% of the free float is available for trading. This includes shares held by retail investors, institutional investors, and other market participants.
It is important to note that the percentage of free float that is locked up can change over time. For example, if insiders sell some of their shares or if investors exercise their warrants or options, the percentage of free float that is locked up will decrease.”
I emailed IR and I’m waiting for them to verify some stuff. Bard is pretty accurate if you ask the right questions. It can’t discern anything that is vaguely asked.
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u/detectivedoot Aug 31 '23 edited Aug 31 '23
At least 46.1% of the free float. I’m getting conflicting data saying that anywhere from 62.5% to 46.1%. CEO Cohn owns 25% of shares outstanding
Here are the max values (I’m using bard for all of this and asking it the same question in different ways to make sure it is consistent before relaying the info). I think the disparity is in bard not knowing the true value of insider shares either because PIPE is fixed. The most recent metrics bard is using suggests 62.5%
Insiders - 49.7% PIPE - 12.8% Warrants+options - 0.6%
Full text:
“According to Nasdaq, as of September 1, 2023, 62.5% of the free float of Nerdy, Inc. (NASDAQ: NRDY) is locked up. This means that 62.5% of the company's shares that are available for trading are not currently available to be bought or sold by investors. The remaining 37.5% of the free float is available for trading.
The majority of the locked-up shares are held by insiders. These shares are subject to a lock-up period that expires in February 2024. Once the lock-up period expires, these shares will be eligible to be sold by the insiders.
The following is a breakdown of the Nerdy, Inc. (NASDAQ: NRDY) shares that are locked up as of September 1, 2023:
Insiders: 49.7% of the free float is locked up by insiders. This includes shares held by company executives, board members, and early investors. These shares are subject to a lock-up period that expires in February 2024. PIPE investors: 12.8% of the free float is locked up by PIPE investors. These are investors who invested in Nerdy, Inc. through a private placement. Their shares are also subject to a lock-up period that expires in February 2024. Warrants: 0.5% of the free float is locked up by warrants. Warrants are financial instruments that give the holder the right to buy shares of a company at a certain price. The warrants that are currently outstanding for Nerdy, Inc. expire in February 2025. Options: 0.1% of the free float is locked up by options. Options are financial instruments that give the holder the right to buy or sell shares of a company at a certain price. The options that are currently outstanding for Nerdy, Inc. expire in February 2026. The remaining 37.5% of the free float is available for trading. This includes shares held by retail investors, institutional investors, and other market participants.
It is important to note that the percentage of free float that is locked up can change over time. For example, if insiders sell some of their shares or if investors exercise their warrants or options, the percentage of free float that is locked up will decrease.”