A $125 million facility. A company the market values at about $3M. VCI Global issued a release at 8:00 AM ET to "clarify" the structure, and the clarification is the part worth reading.
It is a standby equity purchase agreement with Hudson Global Ventures, running 36 months. No funds drawn yet. No immediate share issuance. Both are true. Both also describe every standby facility on day one. It does nothing until the company uses it, and each use means selling new shares to Hudson.
The ceiling is roughly 40 times the market cap. The cash it has delivered so far is zero. $VCIG is -15.90% pre-market. When a company has to put "without immediate share issuance" in a press release, you know which question it is answering.
This ticker's own record: 24 prior sessions that opened at least 5% lower. 67% of them closed below that day's open, with a median open-to-close of -3.66%. That is history, not this morning's odds.
The release still does not say when the first draw comes, at what price, or how large it will be.