Wildtp, Instead of assembling a filing for the SE
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Posted On: 09/12/2017 12:06:13 PM
Wildtp,
Instead of assembling a filing for the SEC every single time a company wants to strike an agreement with an entity to buy shares, lend money, etc., a company will prefile a general umbrella document with the SEC. That preapproval by SEC is kept "on the shelf" for when it might be needed.
The $30 million in shares Aspire has newly agreed to buy is part of the $75 million shelf. This leave $45 million for IPIX to sell directly to other parties, such as those three buyers who bought shares directly from IPIX last year (?). If a BP wanted to make a token buy of shares to support one of our studies, that could come under the shelf.
Not sure whether this entirely replaced our old $75 million shelf or supplemented it.
Instead of assembling a filing for the SEC every single time a company wants to strike an agreement with an entity to buy shares, lend money, etc., a company will prefile a general umbrella document with the SEC. That preapproval by SEC is kept "on the shelf" for when it might be needed.
The $30 million in shares Aspire has newly agreed to buy is part of the $75 million shelf. This leave $45 million for IPIX to sell directly to other parties, such as those three buyers who bought shares directly from IPIX last year (?). If a BP wanted to make a token buy of shares to support one of our studies, that could come under the shelf.
Not sure whether this entirely replaced our old $75 million shelf or supplemented it.
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