Delcath Systems Inc (DCTH)

[Filterthenoise]

As a backstop to the offering an investor is going to be purchasing around a million worth of shares every 15 days at $1.75 and y'all are scared to buy now? Unless these terms changed I'm going to keep dipping my toe at these levels


[url]
https://globenewswire.com/news-release/2018/07/16/1537558/0/en/Delcath-Systems-Announces-Rights-Offering-and-Backstop-Commitment-Ownership-Date-of-August-1-2018.html[/url][tag]insert-text-here[/tag]

Delcath has entered into a backstop commitment with an institutional investor which provides for its purchase of shares of common stock that are not subscribed for in the rights offering pursuant to stockholders’ exercise of their basic subscription rights and over-subscription privilege at the subscription price and otherwise on the same terms as the shares offered to stockholders in the rights offering. Within two business days following the satisfaction of customary closing conditions contained in the backstop agreement, and each successive 15 business day period thereafter during the term of the agreement, the investor has agreed to purchase up to the number of Delcath shares equal to the lesser of (i) $1,000,000 worth of shares or (ii) 20% of the dollar trading volume of the common stock on the OTCQB marketplace on the five business days immediately preceding the purchase date. The backstop agreement will terminate on or before June 30, 2019.