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Posted On: 12/30/2020 8:50:34 AM
Post# of 155107
Re: invisioner #70302
Invisioner,
I believe that this morning's SEC filing was the revised (not sure what changed) opinion of Cytodyn's counsel in regard to the sale of Cytodyn stock to retire $7.5M debt owed to Streetville Capital.
"This Amendment No. 1 (this “Amendment”) to the Registration Statement on Form S-3 (File No 333-251522) (the “Registration Statement”) of CytoDyn Inc. is being filed solely to file a revised Opinion of Counsel as Exhibit 5.1 to the Registration Statement. Accordingly, this Amendment consists only of the facing page, this Explanatory Note, Item 16. Exhibits, the signature page, and revised Exhibit 5.1. The prospectus and the balance of Part II of the Registration Statement are unchanged and have been omitted."
"Such Shares were issued to selling stockholder in connection with an exchange of an outstanding secured convertible promissory note held by the selling stockholder with a principal balance of $7,500,000 at a price per share of $3.40, pursuant to an Exchange Agreement dated December 18, 2020."
I believe that this morning's SEC filing was the revised (not sure what changed) opinion of Cytodyn's counsel in regard to the sale of Cytodyn stock to retire $7.5M debt owed to Streetville Capital.
"This Amendment No. 1 (this “Amendment”) to the Registration Statement on Form S-3 (File No 333-251522) (the “Registration Statement”) of CytoDyn Inc. is being filed solely to file a revised Opinion of Counsel as Exhibit 5.1 to the Registration Statement. Accordingly, this Amendment consists only of the facing page, this Explanatory Note, Item 16. Exhibits, the signature page, and revised Exhibit 5.1. The prospectus and the balance of Part II of the Registration Statement are unchanged and have been omitted."
"Such Shares were issued to selling stockholder in connection with an exchange of an outstanding secured convertible promissory note held by the selling stockholder with a principal balance of $7,500,000 at a price per share of $3.40, pursuant to an Exchange Agreement dated December 18, 2020."
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