Cytodyn Inc (CYDY)

[kevindenver]

$CYDY's financial arrangements keep getting crazy and crazier!

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001175680/000119312522045570/d141577d8k.htm

The toxic dilution with deep discounted shares continues.

The exercise price of the 4-Good Warrants is $0.30 per share. The payment obligations of the Company to the Indemnitors under the Backstop Agreement bear interest at 10% per annum and are secured by substantially all of the patents of the Company.

The shelf offering S-3 will never e declared effective, but maybe the SEC will show mercy on $CYDY and will declare this S-3 effective.

Under the Backstop Agreement, on or before the 120th day following the date of issuance of the 4-Good Warrants, the Company will use commercially reasonable efforts to file a Registration Statement on Form S-3 with the Securities and Exchange Commission (the “SEC”) that is intended to register for resale the shares underlying the 4-Good Warrants.

Such creativity in the terms of payment via warrants, but I bet the lawyers who drafted this got paid in cash.

Also of note, isn't this the first time leronliamab was used as "collateral" assuming it has value...

secured by substantially all of the patents of the Company.

The end is drawing near for this ticker $CYDY.