That is a very reasonable question. I thought some
Post# of 36566
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Posted On: 01/30/2019 12:08:54 PM
That is a very reasonable question. I thought somewhere I saw they obtained a line of credit or something, but I don't remember where.
The only good thing is that GNBT has the right to purchase this back within 90 days or 180 days, but I would think the note holder now gets the NGIO dividends. Also, if GNBT purchases this back with some revenue that should be coming in, do the warrants get purchased with the note?
"The Company has the right to prepay the Notes at a premium within 180 days after issuance. If a Note is prepaid within 90 days, he Company will pay 120% of the principal amount; if a Note is prepaid after 90 days but prior to 180 days, the Company will pay 135% of the principal amount. "
The only good thing is that GNBT has the right to purchase this back within 90 days or 180 days, but I would think the note holder now gets the NGIO dividends. Also, if GNBT purchases this back with some revenue that should be coming in, do the warrants get purchased with the note?
"The Company has the right to prepay the Notes at a premium within 180 days after issuance. If a Note is prepaid within 90 days, he Company will pay 120% of the principal amount; if a Note is prepaid after 90 days but prior to 180 days, the Company will pay 135% of the principal amount. "
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.