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On April 24, 2019, Todos Medical Ltd. (the “Company”) entered into a subscription agreement with Ang Seng Hong Michael, a private investor who is a non-U.S. person, for the sale of 5,000,000 ordinary shares of the Company, par value NIS 0.01 each, at a purchase price of $0.10 per share, for gross proceeds to the Company of $500,000.
The shares were issued to the investor without registration under the Securities Act of 1933 based upon exemptions from registration provided under Section 4(a)(2) of the Act and Regulation S promulgated thereunder. The issuance did not involve any public offering, and no general solicitation or general advertising was used in connection with the offer and sale of these shares.
With this, we further learn//speculate/update a few things. Jam with me here...
1. Going into the vote Monday, there were 95.5M shares of Todos.
2. This raise came prior to the execution of that deal, so AMBS now owns 47.7M shares of Todos(prior to any R/S adjustment), which given the raise rate are worth about $4.7M.
3. We can speculate that the $500k is to pay for fees surrounding the raise (probably not directly, that's usually a cut of the shares issued.)
4. We also know Todos will be raising money at a valuation in the same order of magnitude, though > than $10M. Stock is shooting up and the company was worth $20M according to the market today. So they'll probably let the stock rise a bit/the rise should naturally reflect more what market anticipates the company is worth after all is said and done.
5. Point being, let's say they want to pop up to NASDAQ and raise $20M. Maxim is going to sell those shares to the public, and they'll grab an option for an additional 15%ish of however many shares they plan to issue. To raise about $10M, let's say at a about $35M valuation, that's about 30 million more shares after the option. In this instance, Amarantus ends up owning 38% of the company, for an alleged value of $13.3M. All of that is rough. plug and play the numbers if you think any value is high or low.
http://investor.todosmedical.com/node/6621/html
The shares were issued to the investor without registration under the Securities Act of 1933 based upon exemptions from registration provided under Section 4(a)(2) of the Act and Regulation S promulgated thereunder. The issuance did not involve any public offering, and no general solicitation or general advertising was used in connection with the offer and sale of these shares.
With this, we further learn//speculate/update a few things. Jam with me here...
1. Going into the vote Monday, there were 95.5M shares of Todos.
2. This raise came prior to the execution of that deal, so AMBS now owns 47.7M shares of Todos(prior to any R/S adjustment), which given the raise rate are worth about $4.7M.
3. We can speculate that the $500k is to pay for fees surrounding the raise (probably not directly, that's usually a cut of the shares issued.)
4. We also know Todos will be raising money at a valuation in the same order of magnitude, though > than $10M. Stock is shooting up and the company was worth $20M according to the market today. So they'll probably let the stock rise a bit/the rise should naturally reflect more what market anticipates the company is worth after all is said and done.
5. Point being, let's say they want to pop up to NASDAQ and raise $20M. Maxim is going to sell those shares to the public, and they'll grab an option for an additional 15%ish of however many shares they plan to issue. To raise about $10M, let's say at a about $35M valuation, that's about 30 million more shares after the option. In this instance, Amarantus ends up owning 38% of the company, for an alleged value of $13.3M. All of that is rough. plug and play the numbers if you think any value is high or low.
http://investor.todosmedical.com/node/6621/html
