OTCPK:BIOAQ - Post by User
Post by
JimmyB73on Feb 11, 2018 8:10pm
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Post# 27542189
Pricing mechanism at work?
Pricing mechanism at work?Watch out for the pricing mechanism below ... I am not sure how this works as they state that the exercise prices "may" be decreased ... but all it takes is one bad day to have the warrant strike prices reduced to 90% of that days pricing .. wonder who would want that? ... hmm. I have never seen a deal as dilutive and destructive as this .. lower is better for all warrant holders .. which will be the majority of shareholders now .. just some thoughts .. J
"The per-share exercise prices of the Series A warrants and the Series B warrants may be decreased (but not increased) at the end of the 5th trading day following the public announcement of this offering (the "Trigger Date"), to an amount equal to the lesser of (a) the then exercise price, as adjusted, and (b) the greater of (i) 90% of the lowest daily volume weighted average price of the Company's common stock on the Company's trading market during the five trading days including and immediately prior to such date and (ii) $0.05..."