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Shell Summary for Sept. 24, 2018

2018-09-24 20:31 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 5.69 points to 714.22 Monday. Thomas O'Neill's second capital pool shell, Sherpa II Holdings Corp. (SHRP: $0.10), began trading today. It sold a $288,100 initial public offering at 10 cents through PI Financial Corp. It also sold a $150,000 private placement at 10 cents. Today, there were two trades at 10 cents for a total of 2,000 shares.

Mr. O'Neill, 55, runs a financial planning company in Vancouver called Thomas O'Neill & Associates Inc. Its services include estate planning, as well as managing group pension plans and employee benefits. Mr. O'Neill listed his first capital pool shell, Sherpa Holdings Corp., in November, 2017, with a $335,550 IPO at 10 cents. In March, the shell rolled back 1 for 5 and launched Nubeva Technologies Ltd. (NBVA: $0.78), a cybersecurity software company. Considering the 1-for-5 rollback, the IPO investors of Sherpa Holdings need 50 cents to break even. So far, Nubeva's stock has traded between 66 cents and $1.90, so the shell's IPO investors are doing well.

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