Delcath Systems Inc (DCTH)

[andrius]

The title of this PR is misleading if you don't look into details. Sure the convertible note is "finished" but the shares for "finishing" it aren't done being sold.

OS before this agreement was 99M. They issued shares to one investor worth 4.9% of OS which was roughly 4.9M shares and the other investor 9.9% worht of OS which was roughly 9.9M shares. OS increased from 99M to 114M.

These 15M new shares that were getting dumped today is not the last of it. Its just the beginning batch towards paying down rest of the $3M debt left. As they sell these shares more shares will be issued to them not exceeding 4.9% and 9.9% of the new OS.

The reason they are doing this under 9.9% is so the debt holder can avoid 144 rule and not have to file his sells and avoid volume restrictions.