Questions! http://archive.fast-edgar.com/202107
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Posted On: 07/21/2021 5:25:12 PM
Questions!
http://archive.fast-edgar.com/20210721/A6ZFQ2...LZ2288232/
GNBT has been selling treasury shares for months, thru Oasis I presume with no 8-Ks.
Why the 8-K now?
What is this $1,000,000 net proceeds for?
Who is the undisclosed investor?
Why is the investor’s name being kept secret?
Why can’t GNBT continue doing what it has been doing to raise capital?
Excerpts:
” The purchase price of the Note was $1,000,000 with $70,000 of principal amount represented original issue discount, along with the issuance of 705,173 shares of the Company’s common stock, as inducement shares. Pursuant to the Securities Purchase Agreement, the Company also sold to the Investor warrants to purchase up to an aggregate 904,167 shares of common stock.”
“The Company has the right to prepay the Note at a premium after issuance. If the Note is prepaid within 60 days, the Company will pay 105% of the principal amount; if the Note is prepaid after 60 days but prior to 90 days, the Company will pay 110% of the principal amount. If the Note is prepaid after 90, the Company will pay 120% of the principal amount.”
Why did this investor need $169,000+ (705,173 shares x $.24/share) as an inducement?
Is this more “toxic” funding?
What am I misunderstanding?
http://archive.fast-edgar.com/20210721/A6ZFQ2...LZ2288232/
GNBT has been selling treasury shares for months, thru Oasis I presume with no 8-Ks.
Why the 8-K now?
What is this $1,000,000 net proceeds for?
Who is the undisclosed investor?
Why is the investor’s name being kept secret?
Why can’t GNBT continue doing what it has been doing to raise capital?
Excerpts:
” The purchase price of the Note was $1,000,000 with $70,000 of principal amount represented original issue discount, along with the issuance of 705,173 shares of the Company’s common stock, as inducement shares. Pursuant to the Securities Purchase Agreement, the Company also sold to the Investor warrants to purchase up to an aggregate 904,167 shares of common stock.”
“The Company has the right to prepay the Note at a premium after issuance. If the Note is prepaid within 60 days, the Company will pay 105% of the principal amount; if the Note is prepaid after 60 days but prior to 90 days, the Company will pay 110% of the principal amount. If the Note is prepaid after 90, the Company will pay 120% of the principal amount.”
Why did this investor need $169,000+ (705,173 shares x $.24/share) as an inducement?
Is this more “toxic” funding?
What am I misunderstanding?
(2)
(0)Generex Biotechnology Corp. (GNBTQ) Stock Research Links
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