I thought there would be a large funding and was t
Post# of 30067
(Total Views: 369)
Posted On: 03/28/2017 7:33:47 PM
I thought there would be a large funding and was thinking that SeD was going to be injecting $20 million or so. Now it looks like that won't be necessary- just 3-4 million. It looks like AMBS is giving up 60-65 million shares in AVDX and the remaining balance will be carried in a new note at reasonable terms- no more floorless convertibles.
The big unknown in all of this has been how been much ownership does AMBS need to give up to SeD to turn things around. But now it looks more like they are giving up ownership to the note holders in the form of the AVDX shares and 35% ownership in Cutanogen.
If BMI raises $1.5 million for AVDX, then AMBS will only need to raise $1.5 million to make this work with the note holders. If just doesn't seem like it would be necessary to give away the company to SeD to raise that amount.
If the share price would go up, which certainly it would once these toxics are gone, it would make everything much easier- they could borrow easier, up list etc.
The big unknown in all of this has been how been much ownership does AMBS need to give up to SeD to turn things around. But now it looks more like they are giving up ownership to the note holders in the form of the AVDX shares and 35% ownership in Cutanogen.
If BMI raises $1.5 million for AVDX, then AMBS will only need to raise $1.5 million to make this work with the note holders. If just doesn't seem like it would be necessary to give away the company to SeD to raise that amount.
If the share price would go up, which certainly it would once these toxics are gone, it would make everything much easier- they could borrow easier, up list etc.
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