· 个股论点
涉及标的： $NUAI
所以我花更多时间对 $NUAI 做了尽职调查(DD)，发现了一些巨大的红旗：他们目前已以约860万美元的价格售出了1290万股。但有一份针对“ATW AI LLC”的10亿美元股票的超额配售权(EPFA)，定价为市场价的95%（“定价期内成交量加权平均价(VWAP)或最低交易价格中较低者的95%”）。简单来说，目前流通股本为5000万股，但有7.63亿股待稀释，以低于市场价95%的价格摊薄给股东，无论散户买多少。即使市值为4000万美元，他们也可以通过出售价值10亿美元以上的股票随时将市值稀释回2000万美元。他们还最近向“ATW AI”提议了30亿股稀释。除非股票能产生巨额收入/利润，否则早期买家可能会不断被稀释。这可能是我见过的最糟糕的有毒散户股东稀释性融资，否则我本可以轻松投入10万美元。我不确定是否信任该公司不只是拿散户的钱，以低于市场价95%的价格出售，然后将其转化为资产负债表。但如果他们不继续发行新股，结果可能会不错。
So I spent more time to do DD on $NUAI and found some really big red flags: They've sold 12.9M shares for ~$8.6M so far. But have a EPFA for $1B in shares to "ATW AI LLC" for 95% under market rate. "95% of the lower of VWAP or lowest trading price in the pricing period" In simple terms 50m currently traded shares currently but with 763 million shares pending dilution on shareholders at under 95% market rate whatever retail buys at. Even at a $40m market cap, they can dilute anytime back to $20m by selling $1B+ worth. They also proposed a 3 Billion share dilution to "ATW AI" recently. So unless the stock can produce an enormous amount of revenue/profit, early buyers would likely just keep get diluted. This is probably one of the worst toxic retail shareholder dilutive financing I've seen, otherwise I would have put $100k in it easily. I'm not sure if I'd put my trust in the company not just taking retail funds, selling 95% under market rate, then converting that to the balance sheet. But it could turn out well if they don't draw.