Has the series B, C, or D warrants been executed f
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Posted On: 11/04/2020 1:37:35 PM
Has the series B, C, or D warrants been executed from the Aug 7, 2020 deal with the Anson companies?
They are not allowed to exercise the warrants to the extent that they would exceed 4.99% ownership. So if they are likely executing warrants and dumping shares for marginal gain, since they would be able to get the shares at 80% of the trading price.
From the Aug 7 8K:
"Under the terms of the warrants, a selling stockholder may not exercise the warrants to the extent such exercise would cause such selling stockholder, together with its affiliates, to beneficially own a number of shares of common stock which would exceed 4.99% or 9.99%, as applicable, of our then outstanding common stock following such exercise, excluding for purposes of such determination common stock issuable upon exercise of the warrants which have not been exercised. The number of shares in the second column does not reflect this limitation. The selling stockholders may sell all, some or none of their shares in this offering. See "Plan of Distribution.""
They are not allowed to exercise the warrants to the extent that they would exceed 4.99% ownership. So if they are likely executing warrants and dumping shares for marginal gain, since they would be able to get the shares at 80% of the trading price.
From the Aug 7 8K:
"Under the terms of the warrants, a selling stockholder may not exercise the warrants to the extent such exercise would cause such selling stockholder, together with its affiliates, to beneficially own a number of shares of common stock which would exceed 4.99% or 9.99%, as applicable, of our then outstanding common stock following such exercise, excluding for purposes of such determination common stock issuable upon exercise of the warrants which have not been exercised. The number of shares in the second column does not reflect this limitation. The selling stockholders may sell all, some or none of their shares in this offering. See "Plan of Distribution.""
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