Well it looks like the company has a caveat to buy
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Posted On: 10/09/2018 2:26:20 PM
Well it looks like the company has a caveat to buy some of the warrants back within a 30 day period, otherwise it looks the lender will get enough warrant to the tune of 10 mil preferred shares with a conversion price of
equal of the lower of (i) $0.31625 per share and (ii) 85% of the lowest volume weighted average price of the Company’s common stock on a trading day during the ten trading days prior to and ending on, and including, the conversion date. The conversion price may be adjusted following certain triggering events and subsequent equity sales and is subject to appropriate adjustment in the event of stock splits, stock dividends, recapitalization or similar events affecting the Company’s common stock.
That will still work out to a large amount of shares, depending on the share price of course.
equal of the lower of (i) $0.31625 per share and (ii) 85% of the lowest volume weighted average price of the Company’s common stock on a trading day during the ten trading days prior to and ending on, and including, the conversion date. The conversion price may be adjusted following certain triggering events and subsequent equity sales and is subject to appropriate adjustment in the event of stock splits, stock dividends, recapitalization or similar events affecting the Company’s common stock.
That will still work out to a large amount of shares, depending on the share price of course.
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(1)Innovation Pharmaceuticals Inc (IPIX) Stock Research Links
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