Aradigm Corp fka ARDMQ

[Bobblehead]

Am I reading this right?

The Company issued 26 million shares of the Company’s common stock
to Novo Nordisk A/S in a private placement as consideration for the termination of a promissory note in favor of Novo Nordisk A/S under which approximately $9.1 million was outstanding on July 30, 2010, representing an effective price per share of $0.3505.


Novo could dump the shares - but that would be at a loss of ~50% - where as if they HOLD the shares until ARDM gets to dollar land they will make money off of the deal.