Elite Pharmaceuticals Inc (ELTP): Lincoln is allowed to hold no more than...

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Re: pte post# 243232

Saturday, 02/18/2017 7:15:39 AM

Saturday, February 18, 2017 7:15:39 AM

Lincoln is allowed to hold no more than 9.99% of the O/S shares at any one time.

The Company’s sales of shares of common stock to Lincoln Park under the Purchase Agreement are limited to no more than the number of shares that would result in the beneficial ownership by Lincoln Park and its affiliates, at any single point in time, of more than 9.99% of the then outstanding shares of common stock.

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