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Biotech / Medical : 2017 Biotech Charity Contest -- Ignore unavailable to you. Want to Upgrade?

To: Rocky9 who wrote (124)	3/10/2017 3:23:08 PM
From: BulbaMan	Read Replies (1) \| Respond to of 344

The press release today from EYES says the warrants will trade as EYESW. I propose that the .31972789 (.47/1.47) warrants times the current shares of EYES get added to my portfolio after the warrants start trading. My reasoning is that the rights offering was for units that included both shares and warrants. The regular subscription was based on shareholders using only .47 per share at the price of 1.47 per share. So a shareholder could have sold ~31.97% of his/her holdings after the record date and used the proceeds to exercise the rights offering and get back both the same number of shares and new warrants too. Although the actual percentage could not have been known until the exercise date, it seems the best way to guestimate the value of the prior interest. It does not give any value to the "big" value of the rights offering, which was the right to oversubscribe, since there is no way to know how much a shareholder would oversubscribe. And for purposes of the contest, there is no "extra" cash available anyway. And we still do not know how much oversubscription worked. What do you think? Rocky: Regarding the EYES rights, I’m a bit confused by the language in the EYES press release. Specifically, it says: “Each right will entitle the holder to invest $0.47 toward the purchase of units...” Are you certain (perhaps based on what happened in your real world account) it means shareholders would effectively get .47/subscription price (i.e., 1.47) of a right per share. For example, a holder of 1000 shares would get 319.72789 ((.47/1.47)*1000)) rights? Peace & good health, Bulba