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Tuesday, June 29, 2021 12:27:13 AM
For the 5 Billion shares, which defies logic, the only reason I can fathom for such a drastic increase would be as part of some poison pill measure to prevent a takeover from big pharma, if they succeed in beating Pfizer to market in the ongoing competing trials. At current share price the market cap is only a bit over $20M. Add in up to 5B shares in a poison pill and the buyout price becomes closer to $200M, and that's assuming current share price. With the spike in share price one would expect with positive trial results ahead of Pfizer, that poison pill could raise the buyout price up to several billion dollars.
This is the only thing that makes sense to me. I don't believe even GC could dilute shareholders that much unless he was expecting the share price to go sub-penny and convertible funding would require significantly more shares.
We should learn more in the upcoming corporate update and conference call.
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