RE:So it is Baxter adding to their Spectral investment Thx & Congrats !
not an easy confirmation ( of Baxter's participation) to find in a smattering of legal documents filed with SeDAR on October 28th
...and it was contained in one that is 60 pages long !
Classic Spectral Marketing.
here's some clarity on another matter :
( note: I suspect Chief Marketing Officer should really read Chief Medical Officer)
( appears that June 30th 2023 is a key date, and it suggests a ramp-up is expected by two key individuals. 8 months and counting.)
PSUs Outstanding as at October 28, 2022
The Corporation granted to each of Chief Executive Officer and the Chief Marketing Officer of the Corporation a total of 3,000,000 PSUs (6,000,000 PSUs in total) which will vest immediately if FDA
approval for the PMX Product is achieved by certain dates (the “PMX Milestone”) and shall be payable in Common Shares as follows to each Officer:
a. 2,250,000 Shares if the PMX Milestone is achieved before June 30, 2023;
b. 1,875,000 Shares if the PMX Milestone is achieved on or after June 30, 2023 and before September 30, 2023;
c. 1,500,000 Shares if the PMX Milestone is achieved on or after September 30, 2023 and before December 31, 2023; and
d. 750,000 Shares if the PMX Milestone is achieved on or after December 31, 2023 and before January 31, 2024.
The PSUs will terminate and cease to have any effect with no payout in Common Shares if the PMX Milestone is not achieved by January 31, 2024.
The Corporation granted to each of Chief Executive Officer and the Chief Marketing Officer of the Corporation a total of 750,000 PSUs (1,500,000 PSUs in total) which will vest immediately if FDA approval for in-home use of DIMI is achieved by certain dates (the “DIMI Milestone”) and shall be payable in Common Shares as follows to each Officer:
LEGAL*57293396.2
B-1
a. 750,000 Shares if the DIMI Milestone is achieved before June 30, 2024;
b. 500,000 Shares if the DIMI Milestone is achieved on or after June 30, 2024 and before September 30, 2024; and
c. 250,000 Shares if the DIMI Milestone is achieved on or after September 30, 2024 and before October 31, 2024.
The PSUs will terminate and cease to have any effect with no payout in Shares if the DIMI Milestone is not achieved by October 31, 2024.