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$Meta Materials (MMAT.US)$ $Meta Materials Inc. Class A Pref...
can someone please explain the S-3 filling , notice of effectiveness ? ( what it means in layman's terms )
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Mike Obama :
MindOverMatter Mike Obama :
72874758 : Mmat bought a company called torchlight a couple years ago to get a ticker. Anyone who bought torch before hand got preferred shares called MMTLP. Torchlight was an oil and gas company and those shares were to pay a dividend. The owners of MMAT filed to go private. It was signed off on so all short positions have to be closed out on MMTLP/ old torchlight supposedly within 15 days of S1 adoption. People holding those old proffered shares have a dividend coming to them if they hold the share into the private company. estimated value of 30ish to 60ish bucks. Idea is those preferred shares could squeeze to cover shorts.