EOM Pharmaceutical Holdings Inc. (IMUC)

[sts66]

The warrants are exercisable immediately upon issuance, have a five-year term and an exercise price of $2.65 per share. The warrants will be certificated, and will be delivered to the investors by physical delivery following the closing. There is no established public trading market for the warrants and we do not expect a market to develop.

Hmmm....never seen that language before....physical certs for the warrants? My first thoughts are "oh crap, 5 yrs with 4.5M dilutive warrants hanging of their heads, perfect cover for the underwriters to short the hell out of the stock", which is exactly what happened with every ARNA/Deerfield round of financing that included warrants.

This might provide an opportunity to get into IMUC at prices below $2 - I haven't bought any yet, don't have any dry powder at the moment, and now I will definitely wait a bit to see how things shake out over the next couple months - want to see how the short numbers change for a couple periods before touching this.