Yes, this topic is out of my pay upgrade as well.
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Posted On: 02/16/2019 10:30:47 AM
Yes, this topic is out of my pay upgrade as well.
I knew they can issue additional stock to fight off hostile take over. I was just thinking that they need approval of shareholders to issue additional shares right? insiders got less then 10% of outstanding shares on the float. Don't they need majority shareholders 50.1% approval to issue more shares.
OWC Pharmaceutical Research Corp Raises $5 Million in Preferred Stock Sale to Institutional Investor
https://www.prnewswire.com/news-releases/owc-...19201.html
RAMAT GAN, Israel, May 3, 2018 /PRNewswire/ --
OWC Pharmaceutical Research Corp. (OWCP), a developer of cannabinoid-based therapies targeting a variety of different medical conditions and disorders, today announced the closing of the sale of $5 million of convertible preferred stock to an institutional investor. The preferred stock is convertible into OWCP common stock at a price of $0.20 per share. Newbridge Securities Corporation, through LifeTech Capital, acted as exclusive placement agent for the transaction.
From PR above, the conversion is 20 cents per share? did I miss something here? those 47.7MM will be converted at 20 cents a share?
I knew they can issue additional stock to fight off hostile take over. I was just thinking that they need approval of shareholders to issue additional shares right? insiders got less then 10% of outstanding shares on the float. Don't they need majority shareholders 50.1% approval to issue more shares.
OWC Pharmaceutical Research Corp Raises $5 Million in Preferred Stock Sale to Institutional Investor
https://www.prnewswire.com/news-releases/owc-...19201.html
RAMAT GAN, Israel, May 3, 2018 /PRNewswire/ --
OWC Pharmaceutical Research Corp. (OWCP), a developer of cannabinoid-based therapies targeting a variety of different medical conditions and disorders, today announced the closing of the sale of $5 million of convertible preferred stock to an institutional investor. The preferred stock is convertible into OWCP common stock at a price of $0.20 per share. Newbridge Securities Corporation, through LifeTech Capital, acted as exclusive placement agent for the transaction.
From PR above, the conversion is 20 cents per share? did I miss something here? those 47.7MM will be converted at 20 cents a share?
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