Liminal BioSciences Inc. LMNL

Oups

[Arrakis37]

Please enlight our Halloween lanterns Realstockycameltoe

I think 5.50 will be the sp price for a while...

Weird.  Didn't see that coming...

LOLLLL

[stockman6767]

Arrakis, is that because you saw $5.50 in the new financing? That is the warrant exercise price not what they now paid for the new deal they are getting. They bought " 5,757,894 common shares, along with accompanying warrants to purchase one common share for each common share purchased by an investor, and 557,894 pre-funded warrants to purchase one common share, along with accompanying

[Arrakis37]

You're right stockman.  Thank you for your time to explain the mechanics behind the financing.  Very helpful.    

[GunnerG]

Stockman, I think your numbers are off. The are issuing 5,757,894 shares, along with accompanying warrant for each share.  So thats 11,515,788 shares @ $5.50. Then they talk about "pre-funded warrants"  to purchase one common share along with accompanying warrants..." .  So we are talking 557,894 warrants to purchase a share and a warrant.  Thats an additional

[GunnerG]

My bad, it should read...5,757,894 shares for $30M ($5.21) and 5,757,894 shares @$5.50.   not.... 11,515,788 shares @ $5.50.

[stockman6767]

No Gunner, you have no idea how to read this or what it means! They have fully paid for 5,757,894 shares and for 557,894 fully prepaid warrants totalling 6,315,788 shares that they can hold the day of closing without paying another penny over the $30 M already paid. In addition they get one warrant for each of the 6,315,788 already fully paid for that they can exercise at an

[DryBones]

ah ha.  So a 50% dilution.  Make me laught.  

[GunnerG]

Well I will agree to disagree with you.  We will see shortly on the insider information.

[sah1]

Stockman. You have to admit that the PR was the most convoluted bit of nonsense ever released by a Nasdaq listed company. Your reading of the PR seems clear and concise. However, I have no idea whether you are wrong or right but I will operate from your explanation.

[stockman6767]

Sah1, I agree with you that the writing was estremely convoluted. It  was probably INTENDED to mislead the reader. Further they say that part of the funds were to pay for the BLA, but this has long been completed and submitted.  I also think this was very dirty pool. They clearly drove down the SP consistently everyday so they could issue themselves these sweetheart priced shares PLUS