RE:RE:iAnthus Closes $35 Million Private Placement, CompanyMike411Ontario wrote: I wondered why the sp went up despite dilution. So these reasons caught my eye. It seems the sp is expected to increace allot and quickly. GLTA Mike
The Company has issued units consisting of US$35 million aggregate principal amount of unsecured convertible notes, with a maturity date of four years (the "Notes") and 2,177,291 warrants ("Warrants") to purchase common shares of the Company ("Common Shares"). Additionally, until April 26, 2019, one of the noteholders shall have the right to purchase up to an additional US$25 million aggregate principal amount of Notes and corresponding Warrants.
Following the transaction, iAnthus' cash balance exceeds $50 million, and the Company has a total of 158,069,719 basic shares and 233,300,155 fully diluted shares outstanding, respectively.
Notes are convertible into an aggregate of 5,912,160 Common Shares at US$5.92 per Common Share. At any time following July 16, 2019,
Each Warrant entitles the holder thereof to acquire one Common Shares at an exercise price of US$6.43
Hard to believe the note holders who get unlocked on Tuesday are down 50% on their investment.
Tuff luck I suppose, like Hadley says in his x10 interview, ‘things go up and things go down, if you can’t stomace this kind of ride you shouldn’t be in the space’