Part II follow up of 8k filed financing to IPIX :
Post# of 72447
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Posted On: 10/20/2018 4:58:24 PM
Part II follow up of 8k filed financing to IPIX :
Subject to the satisfaction of certain circumstances, the Company may compel the holders to exercise up to $250,000 of the warrants 30 days after the initial closing of the sale of the preferred stock. In addition, subject to the satisfaction of certain circumstances, the Company may call for cancellation any or all of the warrants following 90 days after their issuance, for a payment in cash equal to 8% of the aggregate exercise price of the warrants being called. The warrants subject to any such call notice will be cancelled 30 days following the Company’s payment of the call fee, provided that the warrant holders have not exercised the warrants prior to cancellation.
The Company intends to use the net proceeds from the offering for general corporate purposes, including research and development.
Subject to the satisfaction of certain circumstances, the Company may compel the holders to exercise up to $250,000 of the warrants 30 days after the initial closing of the sale of the preferred stock. In addition, subject to the satisfaction of certain circumstances, the Company may call for cancellation any or all of the warrants following 90 days after their issuance, for a payment in cash equal to 8% of the aggregate exercise price of the warrants being called. The warrants subject to any such call notice will be cancelled 30 days following the Company’s payment of the call fee, provided that the warrant holders have not exercised the warrants prior to cancellation.
The Company intends to use the net proceeds from the offering for general corporate purposes, including research and development.
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