New 8K. Note terms are quite harsh imo. Investor c
Post# of 148179
(Total Views: 653)
Posted On: 07/31/2020 5:44:47 PM
New 8K. Note terms are quite harsh imo. Investor can demand CASH repayment up to $1.6mil after 6months.
They can prepay the loan....at a 15% premium to the $28mil.
Can't take on more debt w/o investor's approval.
Full ratchet provisions.
Hope NP improves his ability to provide accurate timelines. 6mo's will come quickly. If FDA requires another ph 3 for covid and/or more data for HIV, stock isn't going to be at $10. Quite the gamble in my opinion.
If they need more money, investor has an incentive to say no because the $10 conversion price will drop considerably.
They can prepay the loan....at a 15% premium to the $28mil.
Can't take on more debt w/o investor's approval.
Full ratchet provisions.
Hope NP improves his ability to provide accurate timelines. 6mo's will come quickly. If FDA requires another ph 3 for covid and/or more data for HIV, stock isn't going to be at $10. Quite the gamble in my opinion.
If they need more money, investor has an incentive to say no because the $10 conversion price will drop considerably.
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