NetworkNewsBreaks – Predictive Oncology Inc. (NA
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Posted On: 04/23/2020 4:47:11 PM
NetworkNewsBreaks – Predictive Oncology Inc. (NASDAQ: POAI) Executes Agreement to Exchange $2.1M Debt for Equity
Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, on Wednesday announced that it has entered into an exchange agreement with POAI chief executive officer Dr. Carl Schwartz regarding a $2.1 million promissory note of the company. Per the agreement, Dr. Schwartz has exchanged the note for 1,533,481 shares of newly issued common stock at an exchange rate of $1.43 each, the closing price of the common stock on April 21, 2020. Dr. Schwartz agreed to not sell or transfer 766,740 shares (one-half of the shares) for three months after the date of the exchange agreement, and to not sell or transfer the remaining 766,741 shares for a period of six months following the agreement. Additional details concerning the agreement are available at www.SEC.gov on the company’s Form 8-K filed on April 22, 2020. “This agreement enables the company to strengthen its balance sheet and simplify its capital structure at a critical juncture in our quest to commercialize our highly valuable database of cancer tumors for the advancement of predictive medicine. At the same time, it reinforces my commitment and demonstrates my beliefs in our ability to emerge as a leader in the application of artificial intelligence to oncology therapies,” Predictive Oncology CEO Dr. Carl Schwartz stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, on Wednesday announced that it has entered into an exchange agreement with POAI chief executive officer Dr. Carl Schwartz regarding a $2.1 million promissory note of the company. Per the agreement, Dr. Schwartz has exchanged the note for 1,533,481 shares of newly issued common stock at an exchange rate of $1.43 each, the closing price of the common stock on April 21, 2020. Dr. Schwartz agreed to not sell or transfer 766,740 shares (one-half of the shares) for three months after the date of the exchange agreement, and to not sell or transfer the remaining 766,741 shares for a period of six months following the agreement. Additional details concerning the agreement are available at www.SEC.gov on the company’s Form 8-K filed on April 22, 2020. “This agreement enables the company to strengthen its balance sheet and simplify its capital structure at a critical juncture in our quest to commercialize our highly valuable database of cancer tumors for the advancement of predictive medicine. At the same time, it reinforces my commitment and demonstrates my beliefs in our ability to emerge as a leader in the application of artificial intelligence to oncology therapies,” Predictive Oncology CEO Dr. Carl Schwartz stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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