Luis, Joe can take 92% of the price over any 5 day
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Posted On: 02/18/2020 3:03:56 PM
Re: luisGenerex #12531
Luis, Joe can take 92% of the price over any 5 day period and put the shares to the investors at that price. Example:
Day 1-5 = 2.00, 2.1, 2.0, 2.1, 2.2 = avg 2.08
92% of 2.08 = 1.9136
Joe needs $2MM, he puts 1,045,151 shares to them at 1.9136, and they give GNBT $2MM.
If the price is still at 2.20, they have $2,299,331 worth of shares, which they will presumably sell off as the price continues to go up.
Day 1-5 = 2.00, 2.1, 2.0, 2.1, 2.2 = avg 2.08
92% of 2.08 = 1.9136
Joe needs $2MM, he puts 1,045,151 shares to them at 1.9136, and they give GNBT $2MM.
If the price is still at 2.20, they have $2,299,331 worth of shares, which they will presumably sell off as the price continues to go up.
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