OncoSec Medical Inc (ONCSQ)

[jckrdu]

Agree, if someone else is working on another competing offer, it'll take some time. So here's a question...

After the $30M CGP deal closes (if it closes), DOC says that ONCS doesn't have to accept a subsequent offer to buyout the entire company at the $4.50 floor. But, if CGP does offer $4.50 for the remaining shares to complete a buyout a week after the $30M deal closes, even if the ONCS Board doesn't want to accept the offer... doesn't the board have a fiduciary responsibility to take the offer to ONCS shareholders, so shareholders can decide?

In that case, since CGP would own 53% of the shares at that time, the $4.50 buyout would pass... thus enabling CGP to buyout ONCS for about $75M ($2.50 X 12M shares = $30M plus $4.50 X the remaining 10M shares = $45M).

Given the above, it could be that DOC is doing this CGP deal to attract other/better offers. If none surface, the sale price of about $75M seems to be in-play.

Thoughts?