Humanigen Inc (HGENQ)

[MWM]

From the filing...

The public offering price of our common stock is substantially higher than the net tangible book value per share of our common stock before giving effect to this offering. Accordingly, if you purchase our common stock in this offering, you will incur immediate and substantial dilution of approximately $7.79 per share, representing the difference between the assumed public offering price of $9.90 per share, which was the last reported sale price of our common stock on the OTCQB Venture Market on September 14, 2020, and $2.11, our as adjusted net tangible book value as of June 30, 2020. Furthermore, if outstanding options or warrants are exercised, or we elect to grant new awards under our 2020 Omnibus Incentive Compensation Plan, you could experience further dilution.