OOH …Here’s One Thing
by Jim Johnsen,
Managing Director, Johnsen, Fretty & Company
Struggling with confusion, disillusionment, too
Can turn a man into a shadow, crying out from pain
Through his nightmare vision, he sees nothing, only well
Blind with the beggar’s mind, he’s but a stranger
He’s but a stranger to himself
Suspended from a rope inside a bucket down a hole
His hands are torn and bloodied from the scratching at his soul
Through his nightmare vision, he sees nothing, only well
Blind with the beggar’s mind, he’s but a stranger
He’s but a stranger to himself
Through his nightmare vision, he sees nothing, only well
Blind with the beggar’s mind, he’s but a stranger
He’s but a stranger to himself “Traffic”
“Is there anybody out there?”
I hear ya, but M&A has been pretty darn good and I am just coming up for air. Besides, whether its Shell Oil, or its the Wall Streeters who took it public through a SPAC, or its the multiple rounds of hundreds of millions of dollars that got pumped into the Company, we can’t just let them sneak silently out the back down without putting them in the stocks and getting out some ripe tomatoes, right!
facts to wake you from the dream
Volta raised $125MM in 2021. At the time they said in total they had raised over $200MM.
Volta raised about $600 million in net proceeds via its SPAC merger (with Tortoise Acquisition Corp II) including a $300 million PIPE.
I think there was another round in there just before they went public, but I can not verify this, so lets ignore this. Long short, before Shell Oil showed up to save the day, there was at least $800MM of investment in the Company.
Shell Oil buys the whole Company for $169MM in 2022. (Why $169 btw…why not just call it a day at $170MM?) Sorry Mr. Investor, you just lost $631MM in a REALLY short period of time.
Oh well. That’s the way the cookie crumbles.
But Mr. Shell Oil, titan of the world and a brain trust the size of Montana? Wow. You got snookered.
But Mr. Shell Oil, titan of the world and a brain trust the size of Montana? Wow. You got snookered.
1. Falling in love with the tech instead of understanding what sells.
Volta said in 2020 that they would do over $500MM of media revenue by 2025. As they said in Norbit, many times, “How you doin’?”
Volta said in 2020 that they would do over $500MM of media revenue by 2025.
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