RE:Smart move by TLT management...Hopefully and maybe part of the plan is that by the time the second tranche is needed they will have some news in hand and they can raise money at a higher price.
I do remember when they announced they were going to raise $10M that some were concerned with dilution with the stock at this price and they didn't mention anything about 'tranches' so it seems once again they are raising just enough to keep going, keeping dilution to a minimum.
I also love my TLT shares but I'm not sure about the tradeable warrants, we still have a little more than a month for something to materialize though.
wildbird1 wrote: In the Newsrelease it is clearly stipulated that this is a Non-Brokered Private Placement.
With a Non-Brokered Private Placement, it is TLT(not a broker that doesn't care) that decide to who they are going to sells the shares. TLT has to hand-select each investors one by one, it is a time-consuming process, that could explain why it is done in tranches.
By doing a Non-Brokered Private Placement where TLT hand-select each investors(insider, friends...etc), the company(TLT) is making sure a big stack of shares will not be acquired by unfriendly hands.
It could be possible that at this point in time, having a big foot inside the FDA, and being so close to Pre-BTD and BTD approval, TLT decided that it was to the advantage of the company to do a Non-Brokered Private Placement.
Whatever the reason for now TLT has money to continue towards Pre-BTD and BTD approval.
I love my TLT shares.