Many deals, including reverse mergers, are complic
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Posted On: 10/20/2018 5:59:47 PM
Many deals, including reverse mergers, are complicated by nature. I think this is the best news I've heard in a long time. Some have said uplisting is a pipe dream. Now it's within reach.
Now we know the value of Cutanogen$41.7M and we already know Elto was $316M with both being for just one indication. If these were made up numbers, they easily could have made up a higher number for Cutanogen.
That's $358M not including MANF. The market cap is $7M, I'd say that's a little undervalued and priced like the company was going to bk. Now with a path forward, things are about to get interesting.
I suspect the company will put out a PR with an update if the offer is accepted. I wouldn't say anything until then of I were them as what would be the point?
"After a thorough review, the Company has concluded that the parent Company's best strategy is to file a Regulation A offering in preparation for an eventual equity raise to fund AMBS going forward. The Company maintains the right for its subsidiaries to raise capital, which would have the effect of releasing liens on an individual subsidiary basis. The Company can also achieve its objectives via the issuance of long-term debt, or certain other restricted securities. In parallel with this, the Company is finalizing the plans for Elto Pharma and Cutanogen that it believes will drive near-term value as those subsidiaries prepare to re-enter clinical development."
Now we know the value of Cutanogen$41.7M and we already know Elto was $316M with both being for just one indication. If these were made up numbers, they easily could have made up a higher number for Cutanogen.
That's $358M not including MANF. The market cap is $7M, I'd say that's a little undervalued and priced like the company was going to bk. Now with a path forward, things are about to get interesting.
I suspect the company will put out a PR with an update if the offer is accepted. I wouldn't say anything until then of I were them as what would be the point?
"After a thorough review, the Company has concluded that the parent Company's best strategy is to file a Regulation A offering in preparation for an eventual equity raise to fund AMBS going forward. The Company maintains the right for its subsidiaries to raise capital, which would have the effect of releasing liens on an individual subsidiary basis. The Company can also achieve its objectives via the issuance of long-term debt, or certain other restricted securities. In parallel with this, the Company is finalizing the plans for Elto Pharma and Cutanogen that it believes will drive near-term value as those subsidiaries prepare to re-enter clinical development."
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