Quantum Data Energy (MAST.L) Flash Note 50% Cash Warrants Expire 12012026
Quantum Data Energy (QDE, MAST.L) – A big step closer – record monthly revenues again and as we forecast, our maximum full dilution based upon our meta-analysis remains very much on target after ~113m ITM cash warrants expired on 11 Jan 26. As we also forecast, substantively all of the pre-paid warrants have been exercised. MAST.L is targeting 1GW of new flexible generation by 2030. Our current value range GBp 51-54 is based only on 150MW and our expected dilution of ~223m shares. MAST shares in issue are now 166,385,735 see RNS dated 06 Jan 26. Materially only the value accretive remaining cash warrants now matter, up to ~122m shares, raising ~£5m if exercised. The cash warrant raise can be substituted by debt and equity funding at the SPV level (non-dilutive to MAST equity holders).
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