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Biotech / Medical : NNVC - NanoViricides, Inc.
NNVC 1.205-2.8%3:59 PM EST
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To: old 'n cranky who wrote (12446)11/19/2019 7:28:56 PM
From: HardToFind  Read Replies (2) of 12873
 
Sorry, that wasn't very clear on my part. It seems like the company (NNVC) thought they could/would do a deal, and then, suddenly, at the last minute, the deal changed materially. Below is what I believe the final offer from the group that initially showed interest in taking an equity stake might have resembled.
Would-be buyer: "After performing due diligence, ummmm...we changed our minds. Not interested...no, not even a little."
Maybe it wasn't exactly those terms, but was probably a deal that was far from what NNVC originally expected (or even discussed), and maybe something the would-be investors knew was going to be unpalatable to Diwan and the board. Thus...
...Board of Directors determined that the proposed terms of equity-plus-warrants based offering were not in the best interests of the shareholders.
In other words, I don't think we're hearing much of the true story. I think the would-be investor backed out or materially changed the deal after looking into the history of the company, its management, and the licensing agreement that Diwan made with himself (on behalf of the shareholders). And NNVC management wanted to make it look like THEY turned the deal down because they (ostensibly) could get a better deal.
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