- There appear to be 2 lead investors who would subscribe for one-half of the deal.
- A closing next Wednesday or Thursday,
- A $4 offering price,
- An "at market" conversion ratio, where the ratio is based on the common share price at closing/final pricing of the PVCTP "IPO," and
- i.e., conversion ratio = $4 ÷ closing PVCT.OB share price at PVCTP deal closing
- The conversion ratio may be lower. That is, a higher-than-actual common share price could be used.
- At least 40% warrant coverage at an exercise price of a 10% premium to the offering price
- i.e., $4.40
- The coverage percent may increase.
On the topic of the SPA PR, I continue to hold to management's Q3 guidance as my baseline expectation (until I am required my expectation). I am certain to get grief from Hr. Tyrkiet, a chief Investor Village poster, reader of this blog and periodic e-mailer (bring it on Señor Pavo!), about this should no SPA is announced in Q3. Today (last evening to this evening) is Yom Kippur, and I would imagine not an appropriate day on which to issue an important PR.