NetworkNewsBreaks – Predictive Oncology Inc. (NA
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Posted On: 05/22/2020 3:04:40 PM
NetworkNewsBreaks – Predictive Oncology Inc. (NASDAQ: POAI) CEO Exchanges $2.1M Promissory Note for Common Stock
Predictive Oncology (NASDAQ: POAI) recently entered an agreement with POAI CEO Dr. Carl Schwartz to exchange a $2.1 million promissory note for newly issued equity (http://nnw.fm/Y1UeQ). An article discussing the company reads, “‘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,’ Schwartz said in a news release. ‘At the same time, it reinforces my commitment and demonstrates my belief in our ability to emerge as a leader in the application of artificial intelligence to oncology therapies.’ . . . According to the agreement, Schwartz will exchange the promissory note for shares of common stock, $0.01 par value of Predictive Oncology at market value. In addition, Schwartz agrees not to sell or otherwise transfer one-half of the shares for three months after the date of the exchange agreement and not to sell or otherwise transfer the remaining shares for six months after the date of the agreement. Negotiated between POAI and Schwartz on an arms-length basis, the agreement was approved by the Audit Committee of the company’s board of directors in accordance with Nasdaq listing requirements.”
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) recently entered an agreement with POAI CEO Dr. Carl Schwartz to exchange a $2.1 million promissory note for newly issued equity (http://nnw.fm/Y1UeQ). An article discussing the company reads, “‘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,’ Schwartz said in a news release. ‘At the same time, it reinforces my commitment and demonstrates my belief in our ability to emerge as a leader in the application of artificial intelligence to oncology therapies.’ . . . According to the agreement, Schwartz will exchange the promissory note for shares of common stock, $0.01 par value of Predictive Oncology at market value. In addition, Schwartz agrees not to sell or otherwise transfer one-half of the shares for three months after the date of the exchange agreement and not to sell or otherwise transfer the remaining shares for six months after the date of the agreement. Negotiated between POAI and Schwartz on an arms-length basis, the agreement was approved by the Audit Committee of the company’s board of directors in accordance with Nasdaq listing requirements.”
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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