Innovation Pharmaceuticals Inc (IPIX)

[MackG]

Anyone who doesn't own shares of IPIX cannot participate in any ownership interest in BeaMed Tech. "On June 9, 2022, Innovation Pharmaceuticals Inc. (the “Company”) entered into a Series A Preferred Share Purchase Agreement (the “Purchase Agreement”) with Squalus Med Ltd., a company established under the laws of the State of Israel (“SML”), pursuant to which the Company purchased 55,556 shares of SML’s Series A Redeemable Preferred Shares (the “Series A Shares”) and a warrant (the “Warrant”) to purchase 27,778 Series A Shares for aggregate consideration of $4,000,000, or approximately $72.00 per Series A Share. Following the closing under the Purchase Agreement, the Company owns approximately 35.7% of SML’s issued and outstanding equity securities and approximately 41.6% (not 41.7%) of SML’s equity securities on a fully diluted basis. The Company also entered into customary investor rights and indemnification agreements with SML.