GREY:ICOTF - Post by User
Post by
SchiffKnowsBeston Dec 04, 2017 9:04pm
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Post# 27089777
By December 19th?
By December 19th?Interesting to note that Immune mentions the following when they closed their PP back in October...
The Series E Preferred Stock is convertible into shares of common stock by dividing the stated value of the Series E Preferred Stock ($1,080) by the Conversion Price. The “Conversion Price” is as follows: (i) for the first 40 trading days following the closing of this offering, $1.10 per share of common stock (the “Set Price”), and (ii) after such 40 trading days, the lesser of (a) the Set Price and (b) 87.5% of the lowest volume weighted average price for Immune’s common stock during the five trading days prior to the date of the notice of conversion, subject to further adjustments.
Note how they mention first 40 trading deals. Any chance this money was earmarked to at least being announced the usage by December 19th?