IMO, the new shelf was needed because the information in the old shelf was too aged. IMO, ADXS is getting ready to go to the capital markets and needed to update the shelf (i.e. the base prospectus) so it better reflects the current state of the company. With a new base prospectus, the prospectus supplements that are issued for each transaction will be cleaner/simpler, and won't have to repeat everything in this new base prospectus.
Couple of other points:
- ADXS isn't going to raise $250M at one time. This updated shelf will cover them for years.
- No telling if dilution happens first, or some other good news happens first. All this filing does - IMO - is tell us that some level of capital raising is a likely part of KB's plan ... in the not too distant future.
- Lots of good/current info in the prospectus. I didn't read any new bombshells. Still talking about risk of winding down AXAL/Cervical.
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From Page 1:
"Each time we sell securities, we will provide a prospectus supplement to this prospectus that contains specific information about the terms of such offering. The prospectus supplement may also add, update or change information contained in this prospectus. Before purchasing any securities, you should carefully read both this prospectus and any prospectus supplement, together with the additional information incorporated into this prospectus or described under the heading “Where You Can Find More Information.”
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