Hypercharge Networks (NEO: HC) continues to defy gravity in terms of its trading, moving as high as $3.82 in early morning trading, after closing Thursday’s session at $2.54. The equity, after markets having been open for only an hour, has traded over 3.8 million shares, worth approximately $12.4 million.
Perhaps the most interesting aspect of the move, is the simple fact that it is currently up $1.21 per share – despite a financing for the equity currently being outstanding, which is priced at just $1.05 per unit.
The financing, announced four days ago on April 6, is a non-brokered offering with the company aiming to raise $5.0 million in gross proceeds. Each unit is set to contain one common share and one half of a common share purchase warrant, with warrants valid for a period of three years with an exercise price of $1.35 each. The price for the offering was reportedly reserved on April 5.
Securities issued under the financing will also not be subject to a hold period, meaning anyone that is able to secure a portion of the financing could sell immediately upon closing in an attempt to lock in what are currently outstanding gains. The offering is currently slated to close tomorrow on April 11.
Financing aside, the company, whom is focused on developing an electric car charging network, has had several developmental successes in the last two weeks as well. Last week, the firm secured a deal to provide several charges to the Kapawe’no First Nation in Grouard, Alberta. That deal will see the company provide one 60kW Level 3 DC fast charger, and ten Level 2 charging stations to the First Nation, with the chargers to be installed across multiple properties.
Days before, the company indicated it had been selected by the Lark Group of Companies to install 128 Level 2 EV chargers to a new development in Surrey, BC. Installations of the chargers are due to be completed in the first quarter of 2024. And two days before that, Hypercharge indicated it had been selected to provide 748 Level 2 charging stations to the King George Hub, a mixed-use development hub in Surrey that will see every parking spot equipped with a Level 2 charger.
Hypercharge Networks last traded at $3.75 on the Neo.
Information for this briefing was found via Edgar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
3 Responses
There is ZERO PERCENT CHANCE that Hypercharge is the next Tesla. ZERO.
They don’t own any IP. It’s a ridiculous claim made by Clayton Morris. Who basically is a walking securities violation. Just google his name.
The merits of investing in a well-capitalized charging company, is another debate. And the company may be well capitalized thanks to the aggressive marketing campaign I am referring to. They should be able to raise some okay money, let’s see what they do with it.
Where are we at in 5 years
Potentially Hypercharge could become the new Tesla if it continues on the present path. Especially if it’s activities expand to the US and eventually, worldwide. Of course there are no guarantees and startup companies are always r