RE:RE:RE:New Form 6 K just filedIHowever this would seem to indicate that the intent under the original ATM agreement was to draw under the ATM prior to today as is usual under ATM agreement,...short term instrument.
So as we all know the SP did not perform well and probably did not perform according to the company s expectations
palinc2000 wrote: The original agreement had an automatic termination date upon the occurence of certain events see below......So you are right I think that it is tied to the original Form 10 filing ......But the agreement would have elapsed had they not renewed the F 10 this week
- This Agreement shall terminate automatically upon any of the following occurrences: (1) the aggregate gross proceeds of Placement Shares sold under this Agreement has reached the maximum of U.S. $50,000,000 or (2) the effectiveness of the U.S. Prospectus and the Canadian Prospectus has lapsed, being the date falling on the 25th month of the date of the Canadian Base Prospectus, provided, however, that if the maximum amount of gross proceeds of Placement Shares to be sold hereunder has not been reached and the Company has filed with the AMF a new Canadian preliminary short form base shelf prospectus, together with a new prospectus supplement thereto relating to the offering of Placement Shares contemplated hereunder, and with the Commission a new registration statement on Form F-10 and the new Canadian prospectus supplement thereto relating to the offering of Placement Shares contemplated hereunder, with the effect of renewing such documents, the parties may agree in writing that this Agreement will continue to be effective and govern the offering of Placement Shares up to the amount of gross proceeds then remaining. In such event, all references in this Agreement to the “Canadian Base Prospectus”, “Canadian Supplement”, “U.S. Base Prospectus” and “U.S. Supplement” shall be references respectively to such new Canadian short form base shelf prospectus, Canadian prospectus supplement thereto relating to the offering of the Placement Shares contemplated hereunder, U.S. registration statement on Form F- 10 and prospectus supplement thereto relating to the offering of the Placement Shares contemplated hereunder.
SPCEO1 wrote: I don't have time to give it a good look but we did have something regarding the original terms and I think this is not anything particularly noteworthy. My guess is it is tied to the filing of the prospectus and just a legal thing that had to be completed to make sure everything remained in order. But I do not remember there being a deadline for the ATM and can't imagine it would ahve been that short a time period in any event.
palinc2000 wrote: Extending the ATM sales agreement with Cantor
I dont recall if we had access to the original sales agreement but it appears that the intended maximum date to sell the sharesunder the ATM has expired,,,Spceo is that your take?