MMAT - Meta Materials Enters Into An ATM Equity Sales Agreement
Summary
- Meta entered into a $100 million at-the-market equity sales agreement.
- This was in line with my expectations that it would need to raise money in Q1 2023.
- It also reported disappointing preliminary results for Q4 2022, with a 35% to 40% decrease in revenue compared to Q4 2021, along with over $20 million in quarterly cash burn.
- Organic revenue growth in 2022 ended up at approximately 2%.
- Meta needs to make significant progress with organic revenue growth and/or reducing cash burn before its investors get tired of waiting.
For further details see:
Meta Materials Enters Into An ATM Equity Sales Agreement