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Tilray priced a $90.4M stock offering at $4.76 a share which included a warrant with an exercise price of $5.95 a share that investors can sell beginning 6 months after it is issued with a 5 year expiry. Canaccord Genuity is the sole book-running agent. news.google.com/articles/CBMid…
Canaccord Genuity was the "sole bookrunner" for which other deal in the past? google.com/amp/s/www.mark…
Can you explain how the warrants may impact existing shareholders in this financing? To get full credit for your answer, please show your work. google.com/amp/s/finance.…
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More from @trengriffin see all

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Tren Griffin
@trengriffin
1/ "Ample research shows that most experts do not make great forecasts....

'We find prediction really hard, but we find explanation fairly easy.'

We tell stories to ourselves and others to paper over our poor predictions."

Mauboussin/Callahan

morganstanley.com/im/publication…
2/ "Noise is 'the chance variability of judgments.'"

"Researchers showed pathologists, experts who study body tissue to identify disease, the same biopsy slides at two different times. The average correlation between their overall judgments of disease was 0.63."
3/ "Bias. Most people use rules of thumb more formally called heuristics, to cope with the high information demands of decision making. The availability heuristic describes when a decision maker assesses the likelihood of an event by how easy it is to remember similar instances."
Read 4 tweets
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Tren Griffin
@trengriffin
1/ Charlie Munger: "If it’s a pure commodity like airline seats, you can understand why no one makes any money. As we sit here, just think of what airlines have given to the world—safe travel, greater experience, time with your loved ones, you name it." ritholtz.com/2012/02/a-less…
2/ "Yet, the net amount of money that’s been made by the shareholders of airlines since Kitty Hawk, is now a substantial negative figure."

“There are all kinds of wonderful new inventions that give you nothing as owners except the opportunity to spend a lot more money." Munger
3/ "In a business that’s still going to be lousy. The money still won’t come to you. All of the advantages from great improvements flow through to the customers.”

The great lesson is to discriminate between when technology is going to help you and when it’s going to kill you."
Read 4 tweets
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Tren Griffin
@trengriffin
1/ The current crisis amplifies the value of proprietary product distribution. Having more control over the fate of a business by having your own distribution systems is always valuable, but it is especially true now. 25iq.com/2018/06/02/pro…
2/ “Many entrepreneurs who build great products simply don’t have a good distribution strategy. Even worse is when they insist that they don’t need one, or call no distribution strategy a ‘viral marketing strategy’." Marc Andreessen a16z.com/2014/07/21/a-d…
3/ “Organic users typically have a higher NPV, a higher conversion rate, a lower churn, and more satisfied than customers acquired through marketing spending.” Bill Gurley.

Inorganic customers are less valuable because unit economics are worse (e.g., spend less and churn more).
Read 3 tweets

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Sandy :-)
@1Sandy_Austin
1/2 INFORMATIVE THREAD #SHARE/#RT
#WAKEUPATX #RECALLS INFO > OURTOWNAUSTIN.ORG
2/2
3/3...🤗
Read 4 tweets
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Jyotih
@RealMightyJoe
#share #thread #poem #qanon #QArmy #realmightyjoe #original
The following is one of my favorite poems I have ever written. On my phone so excuse any typos. I think it's the time to put this out there.
"As I Wept with the Devil"
The Fallen Angel would rather,
Crawl back to the pit of Hell.
Kill himself through his prechosen,
Ritual;
Then to ever have to see the Light,
The Truth.
The face of his Makers,
Mother and Father,
Ever again.
I do believe he truly hates God.
But Worships him still, to this Day.
Secretly,
His Mother he has attempted to erase from his-story.
Storytellers tell it differently.
We will politely dis-agree.
You Have No Power Over Me!
Read 17 tweets
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(((Fearless Hindu)))
@_Hinduism_
Thread
Tweet 1 of 9
अगर सीने में आक्रोश हो तो कविता को भरपूर #share करें-

"3 बरस की गुड़िया तिल तिल मरके आखिर चली गयी,
आज अली के गढ़ में बिटिया राम कृष्ण की छली गयी,
नन्हे नन्हे पंख उखाड़े, मज़हब के मक्कारों ने,
देखो कैसे ईद मनाई,दो दो रोज़ेदारों ने....

#JusticeForTwinkleSharma
Tweet 2 of 9

....कोमल अंग काट कर खाये, कुत्तों ने इफ्तारों में
नोच कुचल कर लाश फेंक दी रमजानी बाज़ारो में
आस्तीन में खंज़र रखकर कलियों से गुलफाम मिले
हमको देखो कैसे भाई चारे के परिणाम मिले....

#JusticeForTwinkleSharma
#TwinkleSharma
Tweet 3 of 9

...आओ थोड़ा शोर मचा लें,हम अपनी लाचारी पे
4 दिवस हो हल्ला कर लें,उस ज़ाहिद व्यभिचारी पर
लेकिन हम कब समझेंगे,मज़हब के कुटिल इरादों को
तहज़ीबें जो सीखा गयी हैं दहशत कत्ल फसादों को...

#JusticeForTwinkleSharma
#TwinkleSharma
Read 9 tweets
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Concept211📉
@Concept211
Price moved right back into the sideways zone as mentioned above. Bear still in play and let's see how far we go.

Another drop to ride the 100 SMA at around ~$5K for a short while and then a further drop to the 200 SMA to catch ~$3K.

Could take weeks/months to play out. ⏳
$BTC seems to be faking everyone out yet again with an extremely brief #altseason.

We're still ranging within the previously mentioned zone and should expect a start of the breakdown within 1-2 weeks.

Once we finally break $5800, I'm looking at ~$4600 for the next temp support.
In 2014 the start of the $BTC dump from the flat range started Dec 31 and finally capitulated on Jan 13.

We now see a similar situation playing out although we ranged for 5 months vs 3 months in 2014.

Targets haven't changed. Approx. $3K with a possible wick to $2.7K.
Read 22 tweets
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Rising serpent
@rising_serpent
I'll just leave my post from yesterday here.
They had an inkling of what was coming
They tried to silence us.
Lies may have wings but truth has feet that never quit.
When people speak loud and many, no ban can quell the vox populi.
Jack's official statement: "During the second quarter, we launched new tools to address behaviors that distort and detract from the public conversation and introduced new measures to handle spam, malicious automation and platform manipulation."
"We also acquired Smyte, a technology company that specializes in safety, spam and security issues to help us address these challenges faster. This is important work that complements what we're doing to connect people with interest and help them discover information."
Read 6 tweets
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Rising serpent
@rising_serpent
I told you that tweeting $TWTR + #Sell #Short would not trigger a selling avalanche. See nothing happened.
Twitter is so strong that it's going to hit $30.

marketwatch.com/story/twitter-…
It's the picture of perfect health. Nothing to see here.
In fact NYT is already calling out Trump for Twitter's excellent health by saying "President Trump’s favored social network" is having revenue woes.
Is there anything Trump can't do?
nytimes.com/2018/07/27/tec…
Read 3 tweets

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