I did say something catastrophic would need to happen for this to drop back to $3. Obviously the merger falling through would fit into that statement. The 60 day extension has nothing to do with the upcoming vote. Clearly they knew there was a chance for SEC review which is why they included the 60 day extension in their agreement. Now that the vote is to take place within that 60 day window it is irrelevant unless they need to adjourn the meeting to gather more votes and even then they will have until November 15th. This is not going to happen since the votes will be secured. Another thing though is after the 60 day window passes it just means Marker is ABLE to terminate the agreement. It doesn't mean they actually will. Given how many votes are actually needed after you account for all insiders and institutions the probability of the vote not passing is extremely low, IMO.
Marker at one point made a deal for funding with Battersea Biotech. It wasn't a merger. Battersea was formed by three VC firms one of which was NEA. The only other entities I can find associated with Battersea is Novo Ventures, Novo Nordisk's VC firm, and some company called Grand Central Tech (renamed to just "Company") that is a "start up accelerator." No idea if these are the other VCs who filled out the three that formed Battersea or not. Either way, the fact that NEA was a part of the initial Battersea investment in Marker and is now leading the investment in the "new" Marker leads me to believe it wasn't any issue with Marker that led to the unwinding of the initial investment. We will never know the details but according to the proxy materials they were discussed so Tapimmune's BOD knows why the Battersea investment was wound down and they still recommended moving forward with the merger. At this point it is a non issue.
I personally don't think the unwinding of that investment has anything to do with why we aren't running higher. I think now that we have a date for the shareholder vote people are just waiting on the sidelines to see what happens. Until we get more buying pressure we aren't going to see that big run. Like you said, the deal's not done until it's done.
Friends don't let friends place market orders
