The Dan Show

New Year Update On Going Public

Dan O'Toole Season 1 Episode 4

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0:00 | 3:52

We share a candid New Year update on our path to going public, including the S-1 filing, Nasdaq review, and why we chose a one-for-four reverse split. We explain timing, costs, past deal attempts, and how optionality keeps us moving toward a New York celebration as co-owners.

• S-1 filing publicly disclosed and why it matters
• Waiting on SEC comments and Nasdaq approval linkage
• New York listing celebration plans for investors
• One-for-four reverse split and pricing above 10 dollars
• Institutional access and pension fund constraints
• Cost realities of going public and diligence needs
• Past LOIs and reverse triangular merger lessons
• Running with optionality across A, B, and C plans

If you haven’t invested yet, really invite you to still look at us at pickmecrowdfunding.com

New Year Greetings

SPEAKER_00

Hey guys, happy New Year. Dan here. Glad to see everybody. Um, it's exciting. Uh, everything going on. First of all, I hope everybody had a great Christmas. I hope you got to spend time with your family, friends, loved ones. I hope you got whatever you were hoping to get for Christmas. And uh, I had a great Christmas. I got to go with my family down to Florida uh to see our grandkids. I was always awesome. Uh love those little guys. And uh just glad to be back. Uh, looking for a great new year.

IPO Timing And S-1 Milestone

SPEAKER_00

Um, first thing I want to say is it's the fourth quarter and uh we haven't gone public yet. So that's why I try to be as evergreen as I can when I give a date. Don't want to um commit to something that we don't have total control of ourselves. Uh so a little frustrated on behalf of you guys and myself. Um, but that's okay. Everything happens the way it's supposed to, and uh and everything happens for the best. So I'm really proud of where we are. You may have seen our S1, which is our um registration statement uh with the Security Exchange Commission, uh, was publicly disclosed this past week. Um that's a big milestone. Uh it's announcing to the world that we're ready to go public. So we're right on the doorstep, very close, uh, going through uh final uh comments and remarks and uh you know tweaks, uh, and I think we're great.

Nasdaq Process And Listing Plans

SPEAKER_00

Um we're also simultaneously going through the Nasdaq process of their approval. Uh the final NASDAQ approval does hinge on the SEC. So we're waiting to get that, and then we can finalize both. So hopefully it'll be very soon in the new year when we get this done. Uh, we'll give you guys dates. Uh, we'd love to see you all out in New York. Uh, we're gonna have a lot of fun out there. It's gonna be a big, uh, big time. Uh, and then we're all gonna be there celebrating as co-owners at Arrive AI. So got that going.

Reverse Split And Investor Strategy

SPEAKER_00

You guys may have also seen that uh we did our one for four reverse stock split. Uh four shares at 325 became one share at $13. And we had to do that to hit the listing requirement for NASDAQ, uh, which was a minimum of $8. Uh we went for $13 because we want uh it was clean to do one for four. Uh that gave us the $13 to put us above $10, which you may have heard me mention in the past to get institutional uh and pension fund investors. A lot of those have charters that say they can't invest in companies under $10. Uh, so we want to be over $10. So uh we have a lot of a lot of runway to go. Uh we want to blow this thing up. Uh, that's gonna be our commitment day one. Got some great announcements we'll be making here that you guys are all gonna be excited about. And uh stay tuned for that.

Funding Invite And Cost Realities

SPEAKER_00

Um, if you haven't invested yet, uh really invite you to uh still look at us at pickmecrowdfunding.com. Uh love to have you guys come in uh and help us get over the finish line here. It's been quite expensive uh uh to uh do what we're doing and go in public with all the auditors, investment bankers, lawyers, and and every all the things that you can imagine go into that. Um but we've had a heck of a journey.

Past Deals, Optionality, And Closing

SPEAKER_00

Um we've had two LLIs from NASDAQ companies over the last couple of years. Uh we had a reverse triangular merger with Bruce that we uh attempted to do and they got de-listed. And now we're going it alone. You know, optionality is a big thing in the company, how we run the business. Uh, we always have an A, B, and C plan uh just to make sure we don't end up on a dead end. And that served us so well. Um, I'm really proud of how we run the company, the the uh whole team that we have and our investor community. So happy new year, guys. Just wanted to hit you up real quick, give you some great positive news as we go into the new year. Uh hope you celebrate, have a lot of fun tonight, stay safe, and we'll see you in the new year. Thanks, guys. Bye.