Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : NNVC - NanoViricides, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: HardToFind who wrote (11976)	2/28/2019 6:14:57 AM
From: old 'n cranky	2 Recommendations Recommended By HardToFind Savant Respond to of 12873

Do you suppose there is a lockup period on the shares? What I suppose is that the agreement will refer back to the S-3 Registration as it did in the release.... "The shares of common stock and warrants were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-216345), which was declared effective by the United States Securities and Exchange Commission ("SEC") on April 25, 2017." ....indicating that the buyer requires that that Statement remains Effective, which allows them to trade these new shares at will. That would indicate to me that there will be no lock-up period. In fact I expect that the level of trading of the last few days is more than coincidence. While the two pieces of news would naturally generate some interest I don't think that it's reasonable to assume that the two consecutive 3.7M+ trading days were simply renewed retail buying interest when the previous ten averaged ~80,000. Some of that activity likely involved the very same institutional investors who did the deal. Unfortunately I don't know enough about such fancy footwork to discuss it intelligently. I think that you'll find that there are no material terms to the agreement beyond these: the purchase and sale of 6,944,446 units at a price of $0.36 per unit. Each unit comprises 1 share of common stock and 1 five-year warrant exercisable at $0.61.