The Golden Lounge

[Theo]

I can't understand wtf they filed this shelf reg for last week:

"Ridgeback's A$15m investment in Prima will be made in two parts:

An immediate placement of approximately 72 million Prima ordinary shares at 1.73 cents per share ("the Placement"), worth approximately A$1.25m and representing 4.94% of Prima's issued share capital after the placement; and
Subject to obtaining Prima shareholders' approval, a lump sum cash investment of approximately A$13.75m for consideration of an issue of convertible notes which will be convertible into Prima ordinary shares at 2.00 cents per share ("Notes"). In addition, as part of the convertible note issue the Company will issue two tranches of warrants to Ridgeback.
Further details on the terms of the Placement, Notes and warrants are provided below under the heading "Transaction Details."

Ridgeback is a highly regarded and fundamentally oriented investor in established and emerging healthcare companies, with a particular focus in recent years on immunotherapy assets. Ridgeback has a track record of successful investments in a number of US and European immunotherapy companies including Adaptimmune Therapeutics, Bellicum, Cellectis, Medigene and Trillium. Prima expects to benefit from Ridgeback's considerable healthcare expertise.

Under the terms of the Agreement, Ridgeback has the right to name a new director to the Prima board. Prima has also agreed to issue US$500,000 (approx. $A$630,000) worth of securities to the new director, on similar terms to the securities to be issued to Ridgeback.