Elite Pharmaceuticals Inc (ELTP)

[rrr2003]

I don't recall Nasrat saying anything about private placements during the last CC.

Didn’t Nasrat mention on last call that one of the purposes for an auth increase was for potential private placement(s)? I think he is willing to sell some of company now, but not whole enchilada.

He did mention the option of a rights offering to shareholders as a means of raising capital.

"We've talked to several banks, it's very expensive. Lincoln Park remains a very good source and is the preferred alternative. There are other creative ways that we could raise money by involving the stockholders. We could propose a rights offering to all existing stockholders of Elite. So the shareholders would receive the opportunity and advantage of an offering."

https://seekingalpha.com/article/4284978-elite-pharmaceuticals-inc-eltp-ceo-nasrat-hakim-q1-2020-results-earnings-call-transcript?part=single