Vinco Ventures (NASDAQ: BBIG) investors have a reason to be excited, as the much awaited Cryptyde (NASDAQ* – TYDE) launch inches closer. The company filed a ‘Form D’ to the SEC (UNITED STATES SECURITIES AND EXCHANGE COMMISSION) to register their first sale of Cryptyde stock.
According to Investors.gov “Companies may use an exemption under Regulation D to offer and sell securities without having to register the offering with the SEC. When relying on such an exemption, companies must file what’s known as a “Form D” after they first sell their securities. Form D is a brief notice that includes basic information about the company and the offering, such as the names and addresses of the company’s executive officers, the size of the offering and the date of first sale.”
A company must file a ‘Form D’ notice within 15 days after the first sale of securities in the offering. For this purpose, the date of first sale is the date on which the first investor is irrevocably contractually committed to invest. Cryptyde entered into agreement to Raise $42 Million. The aggregate gross proceeds of these private placements are expected to be $42 million, before deducting fees and other offering expenses.
The Numbers:
BBIG ended the day on Thursday at $3.38 down 5.85% from the previous days close of $3.59. BBIG stock lost its gains due to the wider market sell-off. Its current market cap sits at $459 million. Ortex data suggests that, The current utilization rate is still 100% while the average cost to borrow is at 103%. BBIG still remains a hard stock to borrow. The estimated short interest is 28.98% of the free float at 35.63 million shares.
Cryptyde is currently in its last stages of the approval process with the record date announcement imminent. Although there’s no official confirmation, the ideal timeline for a NASDAQ security application process suggests this. It seems Cryptyde approval will be done sooner rather than later. The stock is currently up 2% at $3.44 (at the time of writing) during after hours on Thursday.
