STOCKS TELEGRAPH

Author: ST Staff

  • Do You Know Why LPTX Stock Jumped 12% In Extended Trades?

    Do You Know Why LPTX Stock Jumped 12% In Extended Trades?

    On the last check Wednesday, shares of the biotechnology company focused on developing targeted and immuno-oncology therapeutics, Leap Therapeutics Inc. (LPTX) was up 12.24% at $1.65 in after-hours trading. Leap stock lost -3.29% in the regular trading to conclude the session at $1.47. LPTX shares traded between $1.445 and $1.54.

    Over the last 100 days, LPTX stock was traded for 0.42 million shares, less than its volume of 0.56 million shares traded in past session. In the last five days, LPTX shares have dropped -12.50%, while they have dropped -16.95% in the last month. LPTX stock increased on news that the company’s CEO will present a corporate overview of the company at a virtual health conference.

    Where will LPTX be presenting?

    In addition to targeted therapies, Leap Therapeutics develops products for immuno-oncology. Clinically advanced candidate DKN-01, developed by LPTX, targets the Dickkopf-1 protein (DKK1). Clinical trials involving LPTX’s DKN-01 are being conducted in esophagogastric, hepatobiliary, gynecological, and prostate cancer patients. DKN-01 will be developed by LPTX in Asia, Australia, and New Zealand in partnership with BeiGene, Ltd.

    As part of the Ladenburg Thalmann 2021 Virtual Healthcare Conference, Leap Therapeutics will be represented by Douglas E. Onsi, the company’s President and Chief Executive Officer. LPTX executive will present on Wednesday, July 14, 2021, at 1:00 pm Eastern Time. Live webcast of the presentation will be available on the Investors page of the LPTX website. For a limited time, LPTX will also offer a replay of the event on its website.

    Leap Therapeutics has developed an image analysis assay called RNAscope, which is currently being used to enroll prospective patients in clinical trials.

    • LPTX is aware of no prior RNAscope study using a digital image analysis solution for patient enrollment.
    • On May 10, Scientific Reports published LPTX’s study findings.
    • LPTX’s article was titled: “Validation of a DKK1 RNAscope chromogenic in situ hybridization assay for gastric and gastroesophageal junction adenocarcinoma tumors.”
    • Biomarker tests must be precise and robust to be used in prospective patient identification.
    • Due to the difficulty associated with manually semi-quantifying RNAscope tissue staining, LPTX and Flagship developed a novel imaging algorithm designed to identify cancer cells and quantify the DKK1 signal.

    Is LPTX benefited by this collaboration?

    Leap Therapeutics (LPTX) developed a digital algorithm that replaces manual quantification, which can be time-consuming, inaccurate, and non-reproducible. Using the digital algorithm, pathologists save time, reduce the possibility of error in manual scoring, and enable LPTX to screen patients more reliably for possible treatment benefits.

  • What Caused The Engine Media (GAME) Stock To Rise 26% After Hours?

    What Caused The Engine Media (GAME) Stock To Rise 26% After Hours?

    The stock of Engine Media Holdings Inc. (GAME) was trading at $13.99 in after-hours, up 26.04%. Engine Media stock closed Wednesday’s session down -5.45% at $11.10. A total of 0.55 million shares exchanged hands in the GAME stock during the session, an increase over its average daily volume of 0.2 million shares. In the last 12 months, the shares of GAME have risen 17.46%, and in the last week, they have decreased by -9.31%.

    The GAME stock price has gone up by 3.64% while going down by 35.20% over the last six months. In addition, GAME’s market capitalization is currently $154.86 million and there are 13.95 million outstanding shares. Following the filing of a patent infringement lawsuit, GAME stock rose.

    Who was sued by GAME?

    Engine Media is dedicated to providing first-class esports, news, and gaming experiences to its partners. GAME’s subsidiaries include Stream Hatchet, Eden Games, WinView Games, UMG, and Frankly Media. Streaming and data-based offerings; programmatic advertising and sponsorships generate revenue for GAME through direct-to-consumer marketing and subscriptions.

    Engine Winview Inc., a subsidiary of Engine Media, has filed a lawsuit against DraftKings Inc., in the United States District Court for the District of New Jersey, announced GAME in press release yesterday.

    • Several patents owned by Winview are the subject of the lawsuit.
    • Morgan Chu of Irell & Manella, LLP and Thomas R. Curtin of McElroy, Deutsch, Mulvaney & Carpenter, LLP are representing GAME in this matter.
    • The lawsuit alleges that various gaming services provided by DraftKings infringe Winview’s United States Patent No. 10,721,543 and United States Patent No. 9,878,243.
    • Patent No. 10,721,543 or the “’543 Patent” entitled “Method Of and System For Managing Client Resources and Assets for Activities On Computing Devices.”
    • Patent No. 9,878,243 or the “‘243 Patent” entitled “Methodology for Equalizing Systemic Latencies in Television Reception in Connection with Games of Skill Played in Connection with Live Television Programming”.
    • A damages action is filed in this case seeking other appropriate relief as well.
    • A primary operating unit at GAME, Winview offers skill-based cash games as part of a viewing experience for traditional sports as well as esports.
    • Further, Engine Media (GAME)’s Winview operates a portfolio of 80 issued US patents, many of which are related to mobile and online sports betting.

    Engine Media (GAME) also announced Tom Rogers, the GAME’s Chairman, and Lou Schwartz, its CEO, will ring the Nasdaq Closing Bell. Executives from GAME will ring the bell today at 3:45 p.m. ET. Engine Media (GAME) will ring the bell to celebrate its Nasdaq listing earlier this month.

  • SeaSpine Holdings Corp. (SPNE) Stock Surges Following News of FDA 510(k) Clearance for Flagship Treatment

    SeaSpine Holdings Corp. (SPNE) Stock Surges Following News of FDA 510(k) Clearance for Flagship Treatment

    SeaSpine Holdings Corp. (SPNE) stock prices were down by 4.41% as of the market closing on July 7th, 2021, bringing the price per share down to USD$18.84 at the end of the trading day. After-hours trading saw the stock surge by 20.59%, bringing it up to USD$22.72.

    510(k) Clearance

    July 8th, 2021 saw the company announce the U.S Food and Drug Administration having granted 510(k) clearance for its 7D Percutaneous Spine Module for minimally invasive surgery, thus facilitating a new application and increased functionality for the 7D Flash Navigation System. The news followed the company’s recent acquisition of 7D surgical, with SPNE anticipating a limited release of the Percutaneous Spine Module in the third quarter of 2021.

    Scope of Treatment

    The 510(k) clearance will facilitate the addressing of a crucial segment of the spine navigation market, thus helping the company round out its FLASH Navigation Spine portfolio. The MIS application is expected to be a valuable enhancement for ambulatory hospitals and surgery centers.

    7D FLASH Navigation System

    The 7D FLASH Navigation System creates a 3-D image using visible light in a matter of seconds. These images are used in surgical navigation and are expected to result in shorter and more efficient spinal procedures. Following the announcement of the 510(k) clearance, the system is the only cleared image guidance system that makes use of the company’s proprietary and unique camera-based technology. In conjunction with machine-vision algorithms, the system is designed to eliminate critical issues with legacy surgical navigation platforms. The machine-vision technology will provide significant economic value with its unparalleled speed, accuracy, and efficiency.

    Launch of Waveform L System

    June 8th, 2021 saw the company announce the limited commercial launch of its 3D-printed WaveForm L Interbody System, which was designed for the lateral lumbar interbody fusion procedure. It seamlessly integrates with the entirety of the Regatta NanoMetalene lateral interbody portfolio, including the recently launched Regatta Lateral Plate. The system is designed to deliver a fully porourinterbopdy solution with a graft aperture, which is designed to accommodate a substantial amount of SPNE’s leading allograft demineralized bone matrix offerings, OsteoStrand and OsteoStrand Plus.

    Future Outlook for SPNE

    Armed with the FDA clearance that will facilitate and accelerate the commercialization of the company’s flagship candidate, SPNE is poised to capitalize on the opportunities afforded by the expanded scope of the development of the treatment. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Opiant Pharmaceuticals, Inc. (OPNT) Stock Surges Following Positive Topline Data from OPNT003 Study

    Opiant Pharmaceuticals, Inc. (OPNT) Stock Surges Following Positive Topline Data from OPNT003 Study

    Opiant Pharmaceuticals, Inc. (OPNT) stock prices were up a significant 32.54% shortly after market trading commenced on July 7th, 2021, bringing the price per share up to USD$17.57

    OPNT003

    July 7th, 2021 saw the company announce top-line results from its confirmatory pharmacokinetic study for the nasal nalmefene, OPNT003, for use in cases of opioid overdose. The study had a total enrollment of 68 subjects and was designed to compare 3mg nelmafene nasal spray with 1mg intramuscular nalmafene injection. As per an initial analysis, nasal nalmefene reported significantly higher plasma concentrations as compared to the intramuscular injections. A previously completed pilot study pegged the time for nasal nalmefene to achieve maximum plasma concentrations at 15 minutes, with the finding being consolidated in the OPNT003 study.

    Competitive Edge

    Currently, the only treatment for opioid overdose that has been approved by the FDA is Naloxone, which has a half life of roughly 2 hours. April saw the company initiate a pharmacodynamic study in healthy subjects, which was designed to compare OPNT003 with nasal naloxone in reversing the respiratory depression produced by the synthetic opioid remifentanil.

    Pushing for Commercialization

    Topline data from the study is expected in the fourth quarter of 2021. Accordingly, OPNT is expecting to submit a marketing application to the U.S Food and Drug Administration by the first quarter of 2022 at the latest. OPNT003 development has been facilitated by grants from the National Institute on Drug Abuse and the Biological Advance Research and Development Agency.

    Scope of OPNT003

    Opioid overdoses have reached unprecedented levels of being the cause of deaths, with the Centers for Disease Control and Prevention reporting more than 69,000 opioid overdose deaths in the 12 months through November 2020. 80% of these are linked to potent illicit synthetic opioids, especially fentanyl. 2017 saw the NIH leadership call for opioid reversal agents that were longer lasting and stronger, as a response to the potency of synthetic opioids in the interest of controlling the proliferation of the public health crisis.

    Future Outlook for OPNT

    Armed with the successful results of its OPNT003 study, OPNT is poised to push for the commercialization and proliferation of its flagship treatment. The company is keen to establish an expansive market footprint, while addressing a rising cause of concern for public health.

  • Manhattan Bridge Capital Inc (LOAN) stock plunged in the current trading session; here’s why

    Manhattan Bridge Capital Inc (LOAN) stock plunged in the current trading session; here’s why

    Manhattan Bridge Capital Inc. (LOAN) stock shares showed a plunge in the current trading session by a percentage of -16.25% and at the price of $6.65 at the last check. LOAN stock previously closed the session at $7.94. The LOAN stock volume traded 0.54 million shares, while for the past 50 days the average daily volume was 39737.0 shares which is lower than today’s remaining shares. Manhattan Bridge Capital is currently valued in the market at $76.46 million and has 9.62 million outstanding shares.

    What you need to know about Manhattan Bridge Capital Inc.

    Manhattan Bridge Capital Inc. is a Real Estate Investment Trust (REIT) that focuses on having a profile of real estate finance and loaning services. The company manages and organizes a portfolio of first mortgage loans in the United States. The type of loans that LOAN stock provides is usually short term and secured loans that have no banking affiliation for the investors that are interested in funding and investing in their real estate projects. These real estate projects could include acquisition, renovation, rehabilitation as well as upgrades. These services are provided primarily for properties that exist in the New York metropolitan area, including New Jersey, Connecticut as well as Florida. The guarantees and security for these funds and loans are mainly secured through collateral which includes personal guarantees through the borrower’s principals as well as real estate assets. The company states that it is not subject to income taxes of the federal corporate kind by distributing 90% of its taxable income to its stockholders. The origins of the LOAN stock date back to 1989 and has its headquarter established in the Great Neck of New York.

    Manhattan Bridge Capital Inc. proposes an public offering for common shares

    On 6th July 2021, Manhattan Bridge Capital Inc. had announced that it was allowing a proposed public offering for the LOAN stock’s common shares. This underwritten public offering consists of a volume of 1,875,000 common shares of the company. These shares are priced at a par value of $0.001 per share while at a public price of $7.20 per share. The underwriting provides an offering that allows the underwriter to purchase 281,250 additional common shares in the 30-day option period in the public offering at the same price. This is subject to the underwriting discounts and commissions for the covering of any over-allotment.

    The main reason for extending this public offering is so that LOAN stock can use the proceeds and capital to fund the over-extending and outstanding balance of the company’s existing credit line. The remaining amount (if remained) would then be exercised for the funding of general corporate purposes, working capital loan as well as increase its loan portfolio.

    The date set for the closing of this offering is 9th July 2021 in which B. Riley Securities Inc. has been placed as the solo book running manager for the offering. The company states that it is expecting to receive gross proceeds of $13,500,000 after which it will deduct the underwriting discounts as well as commissions and expenses.

  • Vaxart Inc. (VXRT) stock plunged in the current trading session; here’s why

    Vaxart Inc. (VXRT) stock plunged in the current trading session; here’s why

    In the current trading session, Vaxart Inc. (VXRT) stock shares had surged 1.36% to the price of $7.26 at the last check. VXRT stock previously closed the session at $7.36. The VXRT stock volume traded today 13.35 million shares, while in the past 50 days its average volume has been 23.37 million. In the past year up to date, VXRT stock has jumped by 14.29% and in the past week, they have shed by -15.69%.

    What you need to know about Vaxart Inc.

    Vaxart Inc. is a biotech company that is in a clinical stage which means that it is primarily engaged in the discovery and development stage and in phases 1 and 2 of clinical testing. The company focuses on the innovation and discovery of treatments and products relating to oral recombinant protein vaccines. The company has its own oral vaccine platform in which it develops its proprietary discoveries and developments including the projects that are currently in its pipeline. One specific vaccine which is an oral tablet vaccine used for the GI.1 and GII.4 norovirus strains. The vaccine is known as the norovirus vaccine and is currently in the phase 1 stage which is used for testing the safety and dosage of a drug. Another project in the pipeline of the Vaxartcompany is called the seasonal influenza vaccine that is being tested for efficacy in phase 2 clinical trial and as the name suggests it is used for the treatment of Influenza H1 infection. Since the inception of the pandemic, rarely any biotech company specifically one that is focusing on the niche of vaccine does not have a vaccine for coronavirus in its pipeline.  VXRT stock has SARS-CoV2 infection’s treatment vaccine in phase 1 clinical trial for the testing of its safety and dosage. The company has specifically collaborated with Janssen Vaccines & Prevention B.V. for the evaluations of the proprietary oral vaccine platform for Janssen universal influenza vaccine program. The headquarters of the company is established in South San Francisco, California.

    Vaxart is giving licensing for VapendavirTM to Altesa Biosciences

    It is a common marketing strategy and business model adopted by biotechnology firms where they start specializing in administering certain or all stages of clinical trials and regulatory approvals as well as the marketing and commercialization of the products. These Biotech companies partially act as CRO which stands for Contract Research Organizations; they take certain biotech and pharmaceutical projects and drug programs as an outsourcing company on contract and take on the role and responsibility for launching the drug program.

    This has been the case today when it comes to VXRT stock’s proprietary and patent-formulated VapendavirTM which was given as a contract for development and commercialization to Altesa Biosciences Inc. Both companies made the deal today in the form of an exclusive licensing agreement that was given to Altesa Biosciences Inc. from Vaxart. Vaxart although mainly focuses on the production of vaccines, has created VapendavirTM which is a broad spectrum anti-viral that has the potential of saving thousands and millions of lives that are affected from viral infections for which there are no approved antivirals. The company will focus on the production and development of its vaccine pipeline while handing over the reins of development for VapendavirTMto Altesa Biosciences Inc.

  • Newegg Commerce, Inc. (NEGG) Stock Prices Skyrocket Following Announcement of BTO Service

    Newegg Commerce, Inc. (NEGG) Stock Prices Skyrocket Following Announcement of BTO Service

    Newegg Commerce, Inc. (NEGG) stock prices were up a monumental 109.19% shortly after market trading commenced on July 7th, 2021, bringing the price per share up to USD$56.90 early on in the trading day.

    BTO Offering

    July 7th, 2021 saw the company announce the offering of a service to facilitate professional PC assembly for customers who use the Newegg PC Builder tool to design their own computers. The company’s build-to-order offering makes use of the company’s ENIAC in-house computer assembly service to construct and deliver fully assembled computers. NEGG sets itself apart from other competitors in the BTO offering space by providing the service significantly faster.

    Competitive Edge

    Having a varied inventory in the millions, the company can source virtually any build with the use of its existing inventory within their network, with the delivery of completed PCs available to customers anywhere in the U.S. With traditional BTO services offering limited component selection and a timeline that spans weeks to fulfill customer orders, NEGG has proven having a significant competitive edge.

    Services Provided

    The initial beta phase will result in the generation of critical insight that will guide the launch of the second phase of the company’s BTO service, which will come with more perks and options, such as laser engraving, to facilitate additional customization and personalization of consumers’ builds. The PC assembly line is staffed with a workforce of skilled technicians, ensuring the highest quality possible.

    PC Builder Tool

    June 20th, 2021, NEGG rolled out the Newegg PC Builder tool which is an online PC configurator that allows even uninitiated customers to design their own computers. The service was an instant hit, given the scope of customers who prefer professional assembly over doing it themselves. Given how complicated the process can be, with near-limitless configuration possibilities. With the plethora of components, brands, specs, and compatibility issues, the right configuration that meets customers’ needs while staying within budget can be a daunting task. Especially in light of the Covid-19 pandemic, customers have been opting more and more to have their devices built remotely and then delivered.

    Future Outlook for NEGG

    Armed with a service that massively expands the scope of its business, NEGG is poised to capitalize on the expanded and consolidated market footprint it finds itself to now have. The company is keen to leverage the resources at its disposal to organically sustain the recent surges in equity value.

  • Silverback Therapeutics, Inc. (SBTX) Stock Trending Higher Following Announcement of Clinical Supply Agreement with Regeneron

    Silverback Therapeutics, Inc. (SBTX) Stock Trending Higher Following Announcement of Clinical Supply Agreement with Regeneron

    Silverback Therapeutics, Inc. (SBTX) stock prices were up by 1.02% just around the market opening on July 7th 2021, bringing the price per share up to USD$28.83 at the start of the trading day.

    Clinical Supply Agreement

    July 7th 2021 saw the company announce a clinical supply agreement for the PD-1 inhibitor, Libtayo, (cemiplimab) with Regeneron. The supply agreement will facilitate the evaluation of the treatment in combination with SBT6050, the pioneer of targeted immune-oncology agents. These agents are designed to route a TLR8 agonist linker-payload to activate myeloid cells in tumors expressing levels of HER2 that are moderate and higher.

    SBT6050

    The treatment’s unique capacity to activate both innate and adaptive immune responses could potentially enhance and expand the effectiveness of a PD-1 inhibitor in HER2-expressing solid tumors. The company is keen to complete the ongoing dose escalation of SBT6050 combined with a PD-1 inhibitor as it begins tumor-specific expansion cohorts.

    Clinical Trial of SBT6050

    The first quarter of 2021 saw the company commence treatment in Part 3 of the Phase 1/1b study to evaluate the activity of SBT6050 administered in conjunction with PD-1 inhibitor in dose escalation. As per the agreement, the company will expand its ongoing Phase 1/1b trial to evaluate the combination of SBT6050 and Libtayo in tumor-specific dose expansion cohorts. The treatment will initially be used in HER2-expressing non-small cell lung cancer and gastric cancer.

    Libtayo

    Libtayo is being collaboratively developed and commercialized by Regeneron and Sanofi as a PD-1 blocking antibody. It has been approved for the first-line treatment of patients with advanced NSCLC that have tumors that exhibit a high PD-L1 expression. This was determined by an FDA-approved test for adults with metastatic cutaneous squamous cell carcinoma (CSCC) or locally advanced CSCC who are not candidates for curative surgery or curative radiation. The treatment was also for patients with advanced basal cell carcinoma previously treated with a hedgehog pathway inhibitor or for patients where HHI is not a valid option, being either locally advanced (full approval) or metastatic (accelerated approval).

    Future Outlook for SBTX

    Armed with its recent clinical supply agreement, the company is poised to capitalize on the tenured profitability it has secured for the contract term. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Will This Help The WPRT Stock To Gain Momentum?

    Will This Help The WPRT Stock To Gain Momentum?

    At the start of the regular session today, shares of Westport Fuel Systems Inc. (WPRT) fumbled under 1%. Westport stock gained 2.18% to trade at $5.15 in the premarket session. WPRT stock fell by 1.56% last trading session, finishing at $5.04. There were 1.41 million shares traded last trading session, below the average daily volume of 2.25 million shares traded over the last 50 days. In the last five days, WPRT stock has dropped -6.84%; however, it has lost -8.53% over the last month.

    Over the last three months, WPRT stock prices have lost -29.11%. This year, WPRT stock prices have lost -5.44 percent. Additionally, WPRT stock is being traded at a price to earnings ratio of 148.24, while its price to sales ratio is 3.25. Since the announcement of the collaboration WPRT stock has gained momentum in premarket trading.

    WPRT collaborated with whom?

    Westport’s mission is to power a cleaner tomorrow through innovation. In the global automotive industry, WPRT is a leading supplier of advanced components and systems for fuel delivery of clean, low-carbon fuels including natural gas, renewable natural gas, propane, and hydrogen.

    Using WPRT’s technology, transportation applications can achieve the fuel efficiency and performance they require, while addressing climate change and urban air quality challenges. As a global transportation company headquartered in Vancouver, Canada, WPRT’s global brands serve customers in more than 70 countries through operations across Europe, Asia, North America and South America.

    Together, Westport, TUPY and AVL announced today that they have formed a collaboration for the development of one of the most efficient hydrogen (H2) internal combustion engines (ICEs) ever devised so far for transportation of heavy goods.

    • Using high pressure direct injection technology (HPDI), the direct collaboration will combine advanced materials and casting technologies.
    • TUPY is a world-leading manufacturer of high-performance structural components such as castings and machinings.
    • The German company AVL is the world’s largest independent company for developing, simulating and testing automotive products.
    • A joint effort between TUPY, WPRT, and AVL will be undertaken to develop an HPDI hydrogen ICE that will improve fuel efficiency and reduce fuel consumption.
    • It is necessary to use superior materials, castings, and machining technologies to deal with high peak firing pressures.
    • Early this year, AVL and the Graz University of Technology collaborated to develop the AVL Hydrogen Engine.
    • Also, WPRT has successfully started and operated heavy-duty ICEs using HPDI on H2.
    • AVL, TUPY, and WPRT plan on launching the first testbed results early in 2022.

    What does WPRT gain from this collaboration?

    By working with AVL and TUPY, Westport (WPRT) is demonstrating that an H2 HPDI solution is capable of meeting the performance and efficiency requirements demanded by the market, leveraging billions of dollars of existing research and development expertise available over the past century.

    OEMs can get carbon-neutral technology quickly, cost-efficiently, and without sacrificing performance with hydrogen HPDI. On a proven technology platform, WPRT contends HPDI already powers thousands of trucks, helping to reduce or nearly eliminate greenhouse gases.

  • Data Storage Corp. (DTST) Stock Skyrockets Following Promising Closure of Merger with Flagship LLC

    Data Storage Corp. (DTST) Stock Skyrockets Following Promising Closure of Merger with Flagship LLC

    Data Storage Corp. (DTST) stock prices surged 24.40% on July 6th, 2021, bringing the price per share up to USD$7.29. Subsequent premarket fluctuations saw the stock skyrocket by 75.45%, bringing it up to USD$12.79.

    Merger with Flagship

    June 3rd, 2021 saw the company announce the merger of its wholly owned subsidiary, Data Storage FL, with Flagship Solutions. Flagship will continue on as the surviving combined entity, with its CEO taking over as the CEO of the combined company. The merger followed shortly after the company was uplisted to Nasdaq, with the transaction substantially expanding the services offered, thus proving highly synergetic with existing IBM operations.

    Details of the Merger

    The combined company is poised to lead the industry as a one-stop provider of multi-cloud IT solutions, which are cross-sold across relevant enterprise and middle-market customers. With more and more customers migrating to the IBM cloud, the merger came at an opportune time, with further growth expected in the market. This assumption is based on the fact that it is only recently that the IBM on-premise server market began transitioning to the cloud. The partnership will provide access to additional resources and infrastructure that will accelerate the growth of the combined company.

    Public Offering

    May 18th had seen the company announce the closing of its underwritten public offering of shares of its common stock. The offering will see the sale of 1.6 million units to the public, at a price of USD$6.75 per unit. Each unit will consist of one share of common stock and one warrant, which can be used to purchase one share of common stock, at an exercise price of USD$7.425. The shares and warrants comprising each unit were immediately separable and were issued separately, having begun trading on the Nasdaq Capital Market on May 14th 2021, under the tickers DTST and DTSTW.

    Allocation of Capital

    The company anticipates the generation of gross proceeds in the amount of USD$10.8 million. An additional USD$2,400 were generated from the exercising of the allowable overallotment option that saw the purchase of an additional 240,000 warrants at a price per warrant of USD$0.01. The funds raised are expected to be allocated towards the expansion of the company’s sales force, marketing and business development, potential acquisitions, as well as the payment of dividends.

    Future Outlook for DTST

    With the final completion of the business combination having occurred on July 6th 2021, in conjunction with the healthy liquidity position, soaring stock prices reflect the untapped potential of the combined company. Investors are hopeful for continued gains over the long-term.