Just my take. When CYDY sold Series C Preferred
Post# of 148190
(Total Views: 526)
Posted On: 09/27/2019 9:56:23 AM
Just my take.
When CYDY sold Series C Preferred in the past, the purchase agreement almost certainly obligated CYDY to make sure the common stock into which the Series C Preferred could convert (and the common stock issuable upon exercise of warrants) was registered (i.e., able to be sold into the market when eventually received) by a certain date.
I assume this S-3 is CYDY complying with that obligation. That is all I assume is taking place with this filing.
I do not assume that this filing means that any holders of Series C Preferred actually HAVE converted into common stock, exercised any of the warrants to receive common stock, or have any plans to sell that common stock right now, as it would be economically irrational to do any of those things right now, but irrational economic behavior is always possible.
Again, just my take. I am not a lawyer, but I play one during the week.
When CYDY sold Series C Preferred in the past, the purchase agreement almost certainly obligated CYDY to make sure the common stock into which the Series C Preferred could convert (and the common stock issuable upon exercise of warrants) was registered (i.e., able to be sold into the market when eventually received) by a certain date.
I assume this S-3 is CYDY complying with that obligation. That is all I assume is taking place with this filing.
I do not assume that this filing means that any holders of Series C Preferred actually HAVE converted into common stock, exercised any of the warrants to receive common stock, or have any plans to sell that common stock right now, as it would be economically irrational to do any of those things right now, but irrational economic behavior is always possible.
Again, just my take. I am not a lawyer, but I play one during the week.
(2)
(0)CytoDyn Inc (CYDY) Stock Research Links
Scroll down for more posts ▼