Hall of Fame Resort & Entertainment Company (NASDAQ:HOFV) Q3 2022 Earnings Call Transcript

Michael Crawford: Yes. I’ll just make a couple of remarks and then Ben you should also comment on this. First of all, when you say using the ATM, let’s be clear, a little over $2 million in the quarter from our perspective is not using the ATM. It is there to help with the equity that’s needed to entice other forms of financing. We did that on a very small scale and we’ll continue to do that if needed. Right now, we’re trying to be pragmatic about engaging the ATM, because of the pricing. But it is there as a vehicle to allow us to manage the business more strategically. And so while we used it, we used it minimally over the last quarter. I don’t know if you want to add anything.

Benjamin Lee: Yes. I’ll just add. I mean, Mike hit it. When we have deferred stock price equity right now, we want to be really thoughtful of dilution, stay away from using the ATM, where at all possible