Todos Medical Announces 90-Day Moratorium on Conve
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Posted On: 09/15/2021 5:30:15 PM
Todos Medical Announces 90-Day Moratorium on Conversions of Convertible Notes and Lockup of Common Stock Sales with Convertible Note Holders
September 15, 2021 1:36pm
Univest Securities retained for proposed financing & uplist to national stock exchange
Company to present at today’s Emerging Growth Conference at 2:30 PM EDT
New York, NY, and Tel Aviv, ISRAEL, Sept. 15, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Todos Medical, Ltd. (OTCQB: TOMDF), a comprehensive medical diagnostics and related solutions company, today announced that it has entered into an agreement with holders of the Company’s convertible notes that provides for a 90-day moratorium on conversions and a 90-day prohibition on sales of common shares by those noteholders issued as a result of conversion notices submitted after September 1st, 2021 (collectively the “Lockup”).
Additionally, the Company has retained the services of Univest Securities for a proposed underwritten public offering of securities that is expected to be completed in conjunction with a listing of the Company’s common shares on a national stock exchange.
“We are very pleased to have received the support from our existing convertible note holders with this lockup agreement,” said Gerald E. Commissiong, President & CEO. “We have recently seen a significant increase in interest in the Company from individual and institutional investors as a result of significant advancements we have made in terms of our COVID related test offering at our highly automated CLIA/CAP lab Provista Diagnostics based in the Atlanta area. Moving forward, we expect even greater interest in our programs from the investment community as we make progress with our clinical-stage Tollovir® oral antiviral 3CL protease inhibitor therapeutic programs for both hospitalized and non-hospitalized patients, as well as our Tollotest™ companion biomarker that measures 3CL protease activity. We expect to release results later this quarter from an observational study Phase 1/2 study of Tollovir that was conducted in Israel in 2020, provide updates on the ongoing randomized, double-blind, placebo-controlled Phase 2 clinical trial in hospitalized COVID patients for Tollovir currently enrolling in Israel, as well as provide updates on the initiation of Phase 2/3 clinical trials planned for Tollovir in both hospitalized and non-hospitalized patients. We believe this lockup agreement will provide confidence to the marketplace, give the Company sufficient room to complete certain strategic transactions currently being evaluated to unlock shareholder value and help facilitate the listing of our common shares on a national stock exchange in the months ahead.”
Todos will be presenting at today’s Emerging Growth Conference at 2:30 PM. To register please click on: https://goto.webcasts.com/starthere.jsp?ei=1487778&tp_key=ec487e0e97&sti=twitter
For more information, please visit www.todosmedical.com. For more information on the Company’s CLIA/CAP certified lab Provista Diagnostics, Inc. please visit www.provistadx.com.
https://investor.todosmedical.com/news-events...ersions-of
September 15, 2021 1:36pm
Univest Securities retained for proposed financing & uplist to national stock exchange
Company to present at today’s Emerging Growth Conference at 2:30 PM EDT
New York, NY, and Tel Aviv, ISRAEL, Sept. 15, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Todos Medical, Ltd. (OTCQB: TOMDF), a comprehensive medical diagnostics and related solutions company, today announced that it has entered into an agreement with holders of the Company’s convertible notes that provides for a 90-day moratorium on conversions and a 90-day prohibition on sales of common shares by those noteholders issued as a result of conversion notices submitted after September 1st, 2021 (collectively the “Lockup”).
Additionally, the Company has retained the services of Univest Securities for a proposed underwritten public offering of securities that is expected to be completed in conjunction with a listing of the Company’s common shares on a national stock exchange.
“We are very pleased to have received the support from our existing convertible note holders with this lockup agreement,” said Gerald E. Commissiong, President & CEO. “We have recently seen a significant increase in interest in the Company from individual and institutional investors as a result of significant advancements we have made in terms of our COVID related test offering at our highly automated CLIA/CAP lab Provista Diagnostics based in the Atlanta area. Moving forward, we expect even greater interest in our programs from the investment community as we make progress with our clinical-stage Tollovir® oral antiviral 3CL protease inhibitor therapeutic programs for both hospitalized and non-hospitalized patients, as well as our Tollotest™ companion biomarker that measures 3CL protease activity. We expect to release results later this quarter from an observational study Phase 1/2 study of Tollovir that was conducted in Israel in 2020, provide updates on the ongoing randomized, double-blind, placebo-controlled Phase 2 clinical trial in hospitalized COVID patients for Tollovir currently enrolling in Israel, as well as provide updates on the initiation of Phase 2/3 clinical trials planned for Tollovir in both hospitalized and non-hospitalized patients. We believe this lockup agreement will provide confidence to the marketplace, give the Company sufficient room to complete certain strategic transactions currently being evaluated to unlock shareholder value and help facilitate the listing of our common shares on a national stock exchange in the months ahead.”
Todos will be presenting at today’s Emerging Growth Conference at 2:30 PM. To register please click on: https://goto.webcasts.com/starthere.jsp?ei=1487778&tp_key=ec487e0e97&sti=twitter
For more information, please visit www.todosmedical.com. For more information on the Company’s CLIA/CAP certified lab Provista Diagnostics, Inc. please visit www.provistadx.com.
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