Bruush Oral Care (NASDAQ: BRSH) stock is actually up 30% on the news that extant shareholders will be able to sell their stock. This is not, to put it mildly, how the world normally works. But then Bruush is so bombed out as a stock that we could believe pretty much anything really.
But it is true. The latest release is that: “This prospectus relates to the offer and sale, from time to time, by the Selling Securityholders named herein (the “Selling Securityholders”) of an aggregate of up to 28,591,268 common shares without par value (“Common Shares”) of Bruush Oral Care Inc. (the “Company”), consisting of (i) in respect of Generating Alpha Ltd., (a) 79,724 Common Shares, (b) 7,181,146 Common Shares issuable upon exercise of the Prefunded Warrant (as defined herein), and (c) 8,350,000 Common Shares issuable upon exercise of the Warrant (as defined herein), (ii) in respect of Yaletown Bros. Ventures Ltd., 9,980,398 Common Shares, and (iii) in respect of Alchemy Advisors LLC, 3,000,000 Common Shares issuable upon exercise of the Alchemy Warrants (as defined herein).”
We’d not be surprised to be told that this comes from the recent stock issuance: “In connection with the private placement, the company will issue 79,724 of its common shares, a prefunded common share purchase warrant to purchase 7.18M common shares, and a common share purchase warrant to purchase 8.35M common shares.”
Brush Oral Care stock price from Google Finance
We were not impressed when we talked before of Bruush Oral Care: “Bruush Oral Care (NASDAQ BRSH) stock was down 50% or so yesterday. BRSH stock is now up 50% or so today. No, this does not mean that Bruush stock is back to where it was, percentages don’t work that way. Or, at least, percentages as we apply them to stock prices don’t……The actually important thing for us to grasp is that the market capitalisation here is about the $1 million mark. It really doesn’t take much of a turn in the weights of buying and selling to move this BRSH stock price move substantially” That market cap is now even lower, at around $600k. It really doesn’t take much buying to move a nanocap like that.
We run with this idea that this is just one of those flurries that will fade back soon enough.
