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Liminal BioSciences Inc. LMNL

Liminal BioSciences is a biopharmaceutical company focused on the discovery and development of novel, small molecule drug candidates for the treatment of patients suffering from fibrotic or inflammatory diseases that have a high unmet medical need. Liminal BioSciences operates on an integrated basis from our talent hubs in Laval, Quebec, Canada, and Cambridge, UK. Our common shares are listed for trading on the Nasdaq Global Market.


NDAQ:LMNL - Post by User

Bullboard Posts
Comment by CCAbbott888on Apr 22, 2019 4:54pm
123 Views
Post# 29656362

RE:RE:Rights Offering

RE:RE:Rights Offering
 
This is a purported response from Prometic investor relations to the question:

 

Aldo, I’m fairly sure it is the case, meaning theoretically, the private placement shares to be issued to Thomvest and Consonance would be eligible to the rights offering process. However, only Thomvest and Consonance themselves know whether or not they will want to participate in the rights offering. The rights offering has been capped at $75M, anything above that would be subject to a pro rata reduction.

 

The record date has not yet been finalized. This is the date by which you will need to be a shareholders in order to receive the rights (20 to 1).The private placement, 25M to Thomvest and 50M to Consonance will close before that date.

 

stockhouse.com/...
NEW|22 Apr 2019, 04:03 PMReply0Like
 
C. C. AbbottContributor
Comments1878 | Following
Author’s reply »
 
47368084 thanks for the comment. The rights offer will be totally meaningless then for the existing non-SALP shareholders (i.e. holders of 736M pre-refinancing shares) if 4.9 B newly issued shares (=1.6 +3.3 B shares in private placement) to SALP and Consonance are also eligible for the rights offer.

 

It will not be x20 or x6.7, but x 0.87

 

0.87=4.93B (allotted share count for the rights offer)/5.636B(=0.736+4.9) total eligible shares, if all eligible shareholders FULLY subscribe.
22 Apr 2019, 04:48 PM Edit Comment

Bullboard Posts