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Posted On: 04/09/2019 11:11:39 AM
Post# of 32973
I am trying to understand it too.
The only thing I can conclude and I hope it just my imagination
but maybe AGP didn't get enough offers to buy shares @3.13
so they are selling at even a deeper discount.
If all our Units are not sold at the public offering price, the Underwriter may change such price and the other selling terms in agreement with the Company.
This isn't what I expected.
My wife, my sister-in-law and two friends are not Happy!
UNDERWRITING
The Underwriter and we intend to enter into an underwriting agreement, pursuant to which we will agree to sell to the Underwriter, and the Underwriter will agree to purchase from us, as the number of Units indicated in the following table.
Underwriter Number of
Units
A.G.P./Alliance Global Partners 6,389,776
Total 6,389,776
The underwriting agreement will provide that the obligation of the Underwriter to purchase the Units included in this offering are subject to approval of legal matters by counsel and to other conditions. The Underwriter will be obligated to purchase all of the Units (other than those covered by the Underwriter’s over-allotment option to purchase additional Units described below) if it purchases any of such Units.
Our Units sold by the Underwriter to the public will initially be offered at the public offering price set forth on the front cover of this prospectus. Any Units sold by the Underwriter to securities dealers may be sold at a discount from the public offering price not to exceed $0.21 91 per Unit. If all our Units are not sold at the public offering price, the Underwriter may change such price and the other selling terms in agreement with the Company.
Underwriting Discounts and Commissions
The following table shows the underwriting discounts and commissions that we are to pay to the Underwriter in connection with this offering, as well as the proceeds to us, before expenses. These amounts are shown assuming both no exercise and full exercise of the Underwriter’s over-allotment option to purchase additional Units.
The only thing I can conclude and I hope it just my imagination
but maybe AGP didn't get enough offers to buy shares @3.13
so they are selling at even a deeper discount.
If all our Units are not sold at the public offering price, the Underwriter may change such price and the other selling terms in agreement with the Company.
This isn't what I expected.
My wife, my sister-in-law and two friends are not Happy!
UNDERWRITING
The Underwriter and we intend to enter into an underwriting agreement, pursuant to which we will agree to sell to the Underwriter, and the Underwriter will agree to purchase from us, as the number of Units indicated in the following table.
Underwriter Number of
Units
A.G.P./Alliance Global Partners 6,389,776
Total 6,389,776
The underwriting agreement will provide that the obligation of the Underwriter to purchase the Units included in this offering are subject to approval of legal matters by counsel and to other conditions. The Underwriter will be obligated to purchase all of the Units (other than those covered by the Underwriter’s over-allotment option to purchase additional Units described below) if it purchases any of such Units.
Our Units sold by the Underwriter to the public will initially be offered at the public offering price set forth on the front cover of this prospectus. Any Units sold by the Underwriter to securities dealers may be sold at a discount from the public offering price not to exceed $0.21 91 per Unit. If all our Units are not sold at the public offering price, the Underwriter may change such price and the other selling terms in agreement with the Company.
Underwriting Discounts and Commissions
The following table shows the underwriting discounts and commissions that we are to pay to the Underwriter in connection with this offering, as well as the proceeds to us, before expenses. These amounts are shown assuming both no exercise and full exercise of the Underwriter’s over-allotment option to purchase additional Units.
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