[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Alex P. Guidi [@apguidi](/creator/twitter/apguidi) on x XXX followers Created: 2025-07-07 03:11:19 UTC Here’s my two cents, in regards to the "discount" debates/war on emerging BTC treasury companies: With XX years of capital raising experience across Canada, the U.S., Europe, and Australasia, and having personally participated in hundreds of placements in venture stocks, I’ve never seen a placement to large investors in spec stocks done without a discount. In fact, most of those included attached warrants. The only realistic way to sell equity at market price is via an ATM (at-the-market offering). But that requires a strong, ongoing bull market with steady retail buying pressure to have any meaningful impact. Factor in the actual cost of executing an ATM for sub $10M placement. A prospectus filing and approval, legal fees, brokerage commissions, and company ends up with the same economic effect or maybe worse when "time" is factored in. Moreover, large investors in spec stocks generally dislike ATMs unless as described above. In fact, they can become a tool for a potential shorting strategy, with the company’s paper constantly being leaked into the market. As one of my serially successful mentors, @robert_ivanhoe, used to say, a line that became well-known among Canadian executives: “Friend or foe, take the doe.” What he meant was simple: if the upside potential is many multiples greater than the dilution, you take the capital. Capital is the fuel, and if it drives exponential growth or positions the company to seize a transformational opportunity, the short-term dilution becomes completely irrelevant. Don’t lose a dollar trying to save a dime.... Factor in the value of "time" for an emerging BTC treasury company it's more like "don't lose a billion trying to save a dive". XXXXX engagements  **Related Topics** [stocks](/topic/stocks) [canada](/topic/canada) [primary market](/topic/primary-market) [bitcoin](/topic/bitcoin) [coins layer 1](/topic/coins-layer-1) [coins bitcoin ecosystem](/topic/coins-bitcoin-ecosystem) [coins pow](/topic/coins-pow) [Post Link](https://x.com/apguidi/status/1942058820123189618)
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Alex P. Guidi @apguidi on x XXX followers
Created: 2025-07-07 03:11:19 UTC
Here’s my two cents, in regards to the "discount" debates/war on emerging BTC treasury companies:
With XX years of capital raising experience across Canada, the U.S., Europe, and Australasia, and having personally participated in hundreds of placements in venture stocks, I’ve never seen a placement to large investors in spec stocks done without a discount. In fact, most of those included attached warrants.
The only realistic way to sell equity at market price is via an ATM (at-the-market offering). But that requires a strong, ongoing bull market with steady retail buying pressure to have any meaningful impact. Factor in the actual cost of executing an ATM for sub $10M placement. A prospectus filing and approval, legal fees, brokerage commissions, and company ends up with the same economic effect or maybe worse when "time" is factored in.
Moreover, large investors in spec stocks generally dislike ATMs unless as described above. In fact, they can become a tool for a potential shorting strategy, with the company’s paper constantly being leaked into the market.
As one of my serially successful mentors, @robert_ivanhoe, used to say, a line that became well-known among Canadian executives:
“Friend or foe, take the doe.”
What he meant was simple: if the upside potential is many multiples greater than the dilution, you take the capital. Capital is the fuel, and if it drives exponential growth or positions the company to seize a transformational opportunity, the short-term dilution becomes completely irrelevant.
Don’t lose a dollar trying to save a dime....
Factor in the value of "time" for an emerging BTC treasury company it's more like "don't lose a billion trying to save a dive".
XXXXX engagements
Related Topics stocks canada primary market bitcoin coins layer 1 coins bitcoin ecosystem coins pow