Biotech Values

[DewDiligence]

COR: Rodman seems to be doing a lot of "single" investor deals. I'm wondering if its all the same one.

Whoever it is, they got a sweet deal. In addition to the large number of warrants and the below-market conversion price of 0.17 for the preferred, the pre-registration and the lack of a minimum holding period for the conversion means that the preferred shares are common-share equivalents with the added benefit of a liquidation preference in bankruptcy.