Sonnet BioTherapeutics Inc (SONN)

[Drakon 642]

Its all in the S-1 filing. They are creating 1,000,000 preferred shares and offering them to us shareholders at the price of 13.50 per share / warrant. The warrant if vested turns the preferred share into 10 common shares but invested pays a quarterly dividend if I read it right, but I think its 9% of the 13.50?? Again its a lot to read and I keep getting pulled away so was hoping for some other peoples take on this, again I like the fact that this could fix millions off the debt side, I think it was 90% of this offering goes to clear a chunk if debt? It will greatly reduce debt without immediate dilution , if successful and I understand it right.
http://ih.advfn.com/p.php?pid=nmona&article=72780889