Overview
- Shares rose about 24% week over week before late‑week declines as traders digested potential dilution from newly announced warrants.
- CEO Kasra Nejatian disclosed the purchase of 125,000 shares for roughly $1.004 million at $8.0365 each ahead of the warrant record date.
- Holders of 30 common shares are set to receive one each of Series K, A, and Z warrants with exercise prices of $9, $13, and $17, respectively, with a November 18 record date and November 21 payment.
- The company said the new warrants are slated for exchange listing under OPENW, OPENL, and OPENZ subject to shareholder approval.
- Third‑quarter revenue fell 33% year over year to $915 million and net loss widened 15% to $90 million, though sales topped prior guidance of $800 million to $875 million.