An S-1A (Rev 4) from Next Bridge Hydrocarbons is out. But what does it mean for MMTLP shareholders?
In January 2023, Next Bridge released an S-1 that indicated they had 40 million shares of common stock they were going to offer to accredited investors. That S-1 never became effective likely because the SEC and FINRA never approved it.
Fast forward to August 2024, and a revised S-1A is out. This statement is not effective yet but shows that Next Bridge is going to be selling shares to try and raise capital which they really need to continue drilling operations.
How much would the shares sell for to these accredited investors? That is a big unknown at this time. Would shareholders get any “dividend” after these sales? Also unknown.
There is speculation on X about the share price.
JunkSavvy gave a summary of what the S-1A means to shareholders.
Will Next Bridge be selling these shares for the amount the hedge funds should pay for them (4 digits)? It’s unlikely they would offer these shares to hedge funds or brokers that created the entire MMTLP fiasco unless the price was right. More than likely this is just a way to raise capital for the company, which is good for us even if it doesn’t immediately resolve the MMTLP situation.