NightHawk Biosciences Inc (NHWK)

[Full Contact Yoga]

It's spelled out pretty clearly...max price .75, but, will go well below that...Dilution is the difference between the subscription price per share and the pro forma net tangible book value per share after giving effect to the rights offering. The subscription price per share that you pay for shares of our common stock sold in the rights offering is substantially higher than our pro forma net tangible book value per share after giving effect to the rights offering. The subscription price will be equal to 88%-92% of the volume weighted average price per share of our common stock on the NASDAQ Capital Market for the five trading days immediately preceding and including October 13, 2017, rounded down to the nearest penny. Assuming the subscription price is determined to be $0.75 (the last reported sale price of our common stock on October 9, 2017) you will incur immediate dilution in net tangible book value per share of $0.56. As a result of this dilution, investors purchasing shares of our common stock in the rights offering may receive significantly less than the full subscription price that they paid for in the rights offering in the event of liquidation. See “Dilution” for additional information.