20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
- Oblong Inc (NASDAQ:OBLG) inked an agreement to sell 4 million shares at $3.1 per share to pre-existing and new institutional investors.
- The offer price signifies a 21.7% discount to the Friday closing price of $3.96.
- The estimated offering proceeds are $12.4 million.
- It also included Series A warrants to sell 1 million shares at $4 per share in a registered direct offering.
- The Series A warrants are exercisable until January 4, 2022.
- Oblong also agreed to issue Series B warrants to the investors in a concurrent private placement to purchase 3 million shares. The share is exercisable six months and one day following issuance, are exercisable for three years from the initial exercise date, at $4.40 per share.
- Oblong intends to use the offering proceeds for general corporate purposes, which may include working capital, capital expenditures, and other corporate expenses.
- Oblong missed the first quarter FY21 revenue consensus by 47.7% at $1.92 million due to dismal product sales from its flagship Mezzanine collaboration suite. The EPS consensus beat Oblong 64.3% at $(0.23). It held $4 million in cash and equivalents as of March 31, 2021.
- OBLG stock has gained 179% in the last year.
- Price action: OBLG shares traded lower by 18.4% at $3.23 on the last check Monday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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