Innovation Pharmaceuticals Inc (IPIX)

[DaubersUP]

That is PR. You have to read the details in purchase agreement. “which closing shall occur upon the earlier of (i) the thirtieth (30th) calendar day following the date hereof or (ii) two (2) Trading Days following the FDA Data Submission Date”

The FDA submission date happened one day after original closing, so add 2 days. All initial 2000 preferred are sold and ipix has the approx 1.9 million. I’m happy it’s done and we will not see another round come Nov 5th.

b) On the Second Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the Purchasers, severally and not jointly, agree to purchase, an aggregate of 750 shares of Preferred Stock with an aggregate Stated Value of $810,000 and Warrants as determined by pursuant to Section 2.2(a), which closing shall occur upon the earlier of (i) the thirtieth (30th) calendar day following the date hereof or (ii) two (2) Trading Days following the FDA Data Submission Date (the “Second Closing”).