The announcement of the stock and warrant flotation comes one week after Meta Materials announced its latest acquisition, that of specialty tech components maker Optodot, for $48.5 million. The company should reap around $50 million from the new issue, which it anticipates will close on or about next Tuesday, June 28. Most metamaterials gain their novel characteristics through the existence of resonances in the component artificial structures: these can be oscillations in the. Meta Materials' stock, which had closed Thursday at nearly $2 per share, unsurprisingly cratered the following day. The warrants become exercisable six months after issuance, and they expire five and a half years from issue. Analysts have a consensus estimate of 3.56 million for the company’s revenue for the quarter, with a low and high estimate of 3.4 million and 3.79 million respectively. The price for the shares will be $1.35 per share, and the exercise price of the warrants is to be $1.75. Meta Materials Inc.’s market cap currently stands at around 316.62 million, with investors looking forward to this quarter’s earnings report slated for Aug 09, 2022. Meta Materials said that it has entered into a securities purchase agreement with "certain institutional investors" it did not name to sell just over 37 million shares of its common stock and an equal number of warrants. Investors bailed on the stock following the announcement of a new round of capital raising. metamaterial-based sensing, additive manufacturing of metamaterials. In fact, shares of the next-generation materials purveyor plummeted just shy of 40%, in sharp contrast to the frothy gain of the S&P 500 index. pursuing research into metamaterials, their properties and applications. Futuristic holographic displays will essentially require broadband chiro-optical effects for medical imaging, virtual reality, smart security, and optical encryption. Delivering complex shape morphing for aerodynamic applications.Meta Materials' ( MMAT -0.91%) stock was far from a popular title on the market on Friday. The lattice group works closely with a number of colleagues, such as Dr Paul Bruce on using meta-materials for flow control applications. Allowing a fully tuned material to be developed, allowing thermal paths through a material to be tuned and a bulk material's natural frequency to be tuned to avoid certain excitation frequencies. Optimised lattice (and small scale structures) have been undertaken for thermal and vibration response. Thermal and Vibration Response MetaMaterials The approach has also be used to produce materials which can deform when loaded in a prescribed path as presented at the AIAA SciTech forum in 2019, and illustrated below (and with the non-trivial individual member size distribution here). Optical metamaterials leverage either chemical compositions or surface features that are smaller than certain wavelengths of light to enable them to interact. At its current rate of cash burn, it may need to raise more funds in 1H 2023 if the warrants (exercise price of 1.75. For financial reporting, their fiscal year ends on December 31st. Meta reported second-quarter revenue of 624.32 million, of which 622.37 million was identified as development revenue. Meta Materials raised 50 million in gross proceeds via an equity offering. SIMP3: Conventional topology optimisation, LB: Lattice based optimisation, SIMP1: Unpenalised topology optimisation with unrealistic intermediate material densitiesĪnd was published here (Multiscale structural optimization towards three-dimensional printable structures). Meta Materials Inc is primarely in the business of semiconductors & related devices.
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