Sesen Bio Inc (SESN)

[ElevenWall]

That's the way I read it.

The closing of the offering is expected to occur on or about June 21, 2019, subject to the satisfaction of customary closing conditions.

Also...

A shelf registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on June 8, 2018. A preliminary prospectus supplement relating to the offering was filed with the SEC on June 18, 2019 and is available on the SEC’s website at www.sec.gov. The final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and also will be available on the SEC’s website. Before investing in the offering, you should read the prospectus supplement and the accompanying prospectus in their entirety as well as the other documents that the Company has filed with the SEC that are incorporated by reference in the prospectus supplement and the accompanying prospectus, which provide more information about the Company and the offering. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, by contacting Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, Suite 1200, Boston, MA 02110, by telephone at [phone] or by email at [e-mail].

Looks like the cushy deal will be for the select few. But on the "bright" side we get $30MM added to the value of the company on the new shares and potentially another $30MM on the warrants, which may somewhat offset the potential 40MM share dilution. Kind of disappointed in management on this. At minimum, bad optics. Hope they add back our value very soon.