MRNO
Murano Global Investments PLC Ordinary Shares
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MRNO extremely low float available as over 90% held by insiders. A little volume and this moves like a bullet.
MRNO might be worth keeping an eye on
MRNO definitely one that will move big time ... keep on watch .. bought some .
$MRNO Murano Announces Enhancements to its Core Strategy with Bitcoin (BTC) Treasury Initiative Following Execution of Up to $500 Million Standby Equity Purchase Agreement https://www.stocktitan.net/news/MRNO/murano-announces-enhancements-to-its-core-strategy-with-bitcoin-btc-3p36pca9a9ao.html So glad I was able to get out of this, initially promising, Mexican hotel and property development company last year . Every struggling or shitco now just pivots to “hey, we’ll buy 30 BTC”, you guys like that right?
F@ck! Thanks for noticing it. Such a sad news, it is one of my favourite companies. Reasons why MRNO is failing: 1) the mexican peso significantly depreciated against the U.S. dollar. 2) debt is in the U.S. dollars. 3) significant SPAC fees. 4) can't finish its Grand Island Cancun Complex hotel because of the lack of funding.
Concerning MRNO / MRNOW, and surprised with some increased volume and price this week. Their recent filing on 4/30 of notice for late annual report submission mentioned : Based upon currently available information, the Company expects to report one or more material weaknesses in its internal controls and expects its internal control over financial reporting and, as a result, its disclosure controls and procedures will be ineffective as of December 31, 2024. Furthermore, management anticipates that it will be disclosing in the Annual Report that as a result of the Company’s liquidity condition, substantial doubt exists over the Company’s ability to continue as a going concern for at least twelve months from the expected issuance date of the Annual Report.
Sorry for repeating a comment from last week, but is anyone else holding MRNO / MRNOW? It’s been a strong chart for both over the past few weeks , a big and growing company , and I’m holding a fair amount of warrants. Just wondering where this may be headed, as they are exercisable. Cashless exercise by the company maybe to get them off the books? They’re currently underpriced given commons price , but very very low daily volume in the commons. (It’s like 95% insider held )
MRNO touched $11 .. trades so thin, surprised some deep pockets haven't loaded warrants and tried spiking commons.
>could have potential HONDW - pre-da, solid team, they brought MRNO to the market, I bought hcm acquisition warrants back in the days for $0.02 and made almost 10x. MRNO reached $11 and strike is near. VCICW - pre-da, very experienced team. SHMD - post-da on the dip. AMBP - post-da with dividends.
Good day for MRNO holders of both commons and warrants, after closing their recent offering yesterday. Should be able to fund their several upcoming projects without issue.
Warrants don't trade like it's 2019 anymore. Ever since the SPAC glut of 2021, warrants have been trading at extremely low valuations, because there is a surplus supply of warrants. Before the SPAC glut, as a general rule of thumb, warrants would trade roughly 10% of the common price, until the commons got > $9 or so. For example, if the commons were $5, the warrants were often 50 cents or so; if the commons were $2, warrants around 20 cents. No more. For example, BRLS is at $9 a share, BRLSW is at 7 cents. MRNO is at $9.50, MRNOW is at 17 cents. BCG is at $5, BCGWW at 10 cents.
The shares underlying the warrants were registered in the final prospectus for the business combination, and BCG didn't file any follow up registration statement, so think they should be exercisable, just like MRNO/MRNOW. "PROSPECTUS FOR [17,713,000 SHARES OF COMMON STOCK](https://www.sec.gov/Archives/edgar/data/1953984/000110465924024067/tm2232968-24_s4a.htm#:~:text=17%2C713%2C000%20SHARES%20OF%20COMMON%20STOCK) 11,709,450 WARRANTS TO PURCHASE SHARES OF COMMON STOCK AND **11,709,450 SHARES OF COMMON STOCK UNDERLYING WARRANTS** OF BINAH CAPITAL GROUP, INC." Might want to send an email to [compliance@continentalstock.com](mailto:compliance@continentalstock.com) to confirm that.
Is BCG trending on the pump and dump channels like Twitter or WSB? Seems they’ve tried to get it up there the past few days , similar to MRNO I have warrants in both and have noticed the daily rise and inevitable fall.
I think **MRNO** is going to be next after **LPA** and **ADRT** as a sympathy play. Might be worth adding to watchlists.
No. LPA moved like that because it joined the NYSE and big institutional investors piled in, there is no such move happening for MRNO
Touched $500 in after hours before dumping. Imagine having even a tiny bit of that and casually checking your port. MRNO a sympathy low float recent Despac in similar sector.
MRNO commons with $12 bid in after hours .. LPA in the $300s and about to take 400.
Halted at 154 ... MRNO starting to perk up. Kind of a sympathy.
Murano didn't say, but generally companies perform stock buybacks because they think their stock is too cheap, and "it is a way to return cash to shareholders". The MRNO buyback is only up to $2 million until September 30. No idea if they plan to spend that $2 million regardless of share price, or spend that $2 million if the share price drops below $8 or $6 or some pre-determined level.
Update about Murano Global Investments ( MRNO MRNOW ) warrants. Sent a follow up email to investor relations, got this reply: "Thank you for your investment in Murano Global Investments PLC. We are confident that our development plan and properties will offer long-term value to our holders of ordinary shares and warrants. All legal documentation has been provided to Continental and Continental are processing the setup of the warrants in DTCC, which I understand will be complete in the next one to two days."
From compliance at Continental Trust: "We are awaiting legal documentation from the Company before permitting cash exercises. Thanks." No response from MRNO investor relations yet.
They already [have an EFFECT](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&filenum=333-273849&owner=exclude&count=40). The shares underlying the warrants were registered with the 424B3 prospectus for the business combination on February 23, and again in the prospectus supplement #1 on March 20. That was good enough for VFS / VFSWW, and MRNO has not filed a F-1 since the business combination closed, so sent emails to MRNO investor relations and compliance at Continental to check if MRNOW are exercisable due to the existing, effective prospectus. As far as the financials, most of the revenue seems to come from running the hotel properties, but they also [own several hotels and are developing other projects they will own](https://www.murano.com.mx/en/listado-propiedades), including business parks, right? May be over valued with $900 million market cap, but was mostly concerned with the warrants, which are pretty cheap for a stock where the commons are trading near the exercise price ( if, of course, the price stays there ).
Update on the Murano Global Investments ( MRNO MRNOW ) warrants and whether they might be cash exercisable now. From compliance at Continental Trust: "We are awaiting legal documentation from the Company before permitting cash exercises. Thanks." So ... maybe soon? Maybe not? Will follow up if any additional information comes in.
Maybe ? 928,528 MRNOW traded on May 7. Then on May 8, MRNO opened at $10, hit a low of $9.75, a high of $12.33, closed at $11.22, with 42k shares traded. Don't know that arbs might react that fast; but perhaps someone who bought some of those 928k warrants shorted MRNO at $12.33 and plans to use the shares underlying the warrants to cover. Sent emails to Murano IR and Continental Trust to ask if the existing 424B3 and Prospectus Supplement #1 make the warrants exercisable, will post here with answer when/if one comes.
Thanks for the callout, this is interesting info. One thing I’m confused about though, if MRNOW are indeed exercisable, how did MRNO trade at 12.00 yesterday while MRNOW traded below .14? Is it really possible for such an “obvious” arbitrage to exist?
No, ***think*** MRNOW should be exercisable for $11.50 for one share of MRNO. It has been more than 30 days after the business combination closed, and the shares underlying the warrants are registered by an [effective registration statement](https://www.sec.gov/Archives/edgar/data/1988776/000114036124009282/ny20009839x19_424b3.htm). There has been some disagreement about whether the F-4/424B3 registration was valid for warrants. It was for VFS/VFSWW. GETY lost [a $51 million lawsuit](https://www.prnewswire.com/news-releases/warrant-holders-win-51-million-in-suit-against-getty-images-for-interference-with-the-exercise-of-their-warrants-301972126.html) because they refused to let warrant holders exercise their warrants when those had been registered in the S-4/424B3. So anyway, ***think*** MRNOW should be cash exercisable.
Anyone else been watching Murano Global Investments ( MRNO MRNOW ) , "a London-headquartered real estate company that owns, develops and invests in hotel, resort and commercial properties" ? Business combination closed March 21, then [announced a $2 million share buyback](https://www.globenewswire.com/news-release/2024/04/03/2857412/0/en/Murano-Global-Investments-Plc-Announces-a-New-Share-Repurchase-Program.html) two weeks later. ***Think*** the warrants are already exercisable, because they were registered by the 424B3 for the business combination ( like VFS/VFSWW ): [AND 16,875,000 ORDINARY SHARES UNDERLYING WARRANTS](https://www.sec.gov/Archives/edgar/data/1988776/000114036124014352/ny20023977x3_424b3.htm#:~:text=AND%2016%2C875%2C000%20ORDINARY%20SHARES%20UNDERLYING%20WARRANTS) MRNO dropped as low as $7.20 after business combination closed, is $11.30 this morning, MRNOW 14 cents.