Here are my 10-K take-a-ways. Page F-12 On Jul
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Posted On: 10/29/2020 3:42:12 PM
Here are my 10-K take-a-ways.
Page F-12
On July 14, 2020, the Company entered into a purchase agreement with an investor Oasis Capital, LLC (“Oasis”) pursuant to which Oasis has agreed to purchase from the Company up to $50,000,000 of common stock at 92% of the market price for the period of five (5) consecutive trading days immediately subject to a put notice on such date on which the purchase price is calculated in accordance with the terms and conditions of the agreement (subject to certain limitations) from time to time over a 36-month period. We also issued to Oasis 300,000 shares under the Oasis Capital Agreement as a commitment fee in connection with a registration statement. This transfer has been accounted through common stock and additional paid in capital which has no net effect on equity.
Page F-13
The Company filed three Form S-1s for Registration of Securities pursuant to the Securities Act of 1933 (the Securities Act”) on September 14, 2020. One Registration Statement relates to the offer and sale of up to 1,700,000 shares of common stock NGIO, by the selling stockholders. The second Form S-1 for Registration registration statement registered 100,000 shares of Series A Cumulative Redeemable Perpetual Preferred Stock at $0.001 par value per share. The third filing, is to register shares of $0.001 par value per share common stock and shares of common stock issuable upon exercise of Common Stock Purchase Warrants. The number of shares to be registered and the offering price have not yet been determined.
GNBT is the seller, other than us dividend recipients, they are the only one owning NGIO stock.
Oasis to buy up to $50m of NGIO stock (from GNBT)
1,700,000 guaranteed IPO shares
Unknown number of Warrants
Best case scenario (probably completely unrealistic): Oasis spends all $50 million buying 1,700,000 shares = $29.41 per share
Questions:
How many warrant will be issued?
How many NGIO shares will GNBT sell?
How much of the $50 million will Oasis spend?
Exciting times await us.
Page F-12
On July 14, 2020, the Company entered into a purchase agreement with an investor Oasis Capital, LLC (“Oasis”) pursuant to which Oasis has agreed to purchase from the Company up to $50,000,000 of common stock at 92% of the market price for the period of five (5) consecutive trading days immediately subject to a put notice on such date on which the purchase price is calculated in accordance with the terms and conditions of the agreement (subject to certain limitations) from time to time over a 36-month period. We also issued to Oasis 300,000 shares under the Oasis Capital Agreement as a commitment fee in connection with a registration statement. This transfer has been accounted through common stock and additional paid in capital which has no net effect on equity.
Page F-13
The Company filed three Form S-1s for Registration of Securities pursuant to the Securities Act of 1933 (the Securities Act”) on September 14, 2020. One Registration Statement relates to the offer and sale of up to 1,700,000 shares of common stock NGIO, by the selling stockholders. The second Form S-1 for Registration registration statement registered 100,000 shares of Series A Cumulative Redeemable Perpetual Preferred Stock at $0.001 par value per share. The third filing, is to register shares of $0.001 par value per share common stock and shares of common stock issuable upon exercise of Common Stock Purchase Warrants. The number of shares to be registered and the offering price have not yet been determined.
GNBT is the seller, other than us dividend recipients, they are the only one owning NGIO stock.
Oasis to buy up to $50m of NGIO stock (from GNBT)
1,700,000 guaranteed IPO shares
Unknown number of Warrants
Best case scenario (probably completely unrealistic): Oasis spends all $50 million buying 1,700,000 shares = $29.41 per share
Questions:
How many warrant will be issued?
How many NGIO shares will GNBT sell?
How much of the $50 million will Oasis spend?
Exciting times await us.
(3)
(0)Generex Biotechnology Corp. (GNBTQ) Stock Research Links
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