Cytodyn Inc (CYDY)

[Bored Lawyer]

Read it VERY quickly. Looks like two things might be going on:

1) Some warrant holders were concerned that CYDY could use language in the exercise offer to argue that exercising warrant holders waived securities laws claims against CYDY, so CYDY had to add language to make it clear that there was no waiver. Goes back to the recent 8K filing where they issued "Make-Whole Securities" etc. in exchange for release of claims.

Makes me wonder what claims? I have theories, but just speculation on my part so it's not worth going into.

2) Looks like some warrant holders were concerned about making an Accredited Investor representation when exercising, so CYDY clarified that they did not have to make the representation in order to exercise warrants.

The Good: Looks like some warrant holders might have interest in exercising.

The Bad: To me, this is another sign that something is not quite right, IMO.

The Ugly: What claims do the warrant holders (and former "make-whole securities") think they have? Inquiring minds want to know.