After the recent news that Live Current raised $375K in a private placement, word arrived today that they closed another private placement yesterday: 46 more units for $225,000. That means an additional 2.3M shares (close to 10% of the shares out) and then 2.3M more warrants convertible into shares @ .15 cents within the next 2 years.
The earlier private placement was covered at Domain Name Wire with some follow-on analysis here.
As observed in DomainNameWire today, Live Current completed a private placement, selling 74 units consisting of 50,000 shares each for total proceeds of $370,000. Based on the current shares outstanding (roughly 24,000,000) this amounts to a 15% dilution of current shareholders. The units also include warrants to purchase an equal number of shares at .15 within 2 years. If Live Current manages to lift the stock price above that level, it will further dilute shareholders another 13%, based on the the number of shares outstanding of 27,700,000. Read more »
As I mentioned in my article about domain investing, Live Current (ticker LIVC:OTC) hasn’t done a great job of championing the concept of building a new media company around a portfolio of “category killers”. We recently heard via DomainNameWire that the former CEO of Live Current has filed a lawsuit against the company, further adding to their woes.
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