The deal with LP is all in the hands of Anavex. It is like having $100M already underwritten, but not executed. To be executed at the discretion of Anavex without all the headaches of dealing with some sleazy underwriter.
The magnitude of the deal is pretty large compared to today's market cap, but this stock is probably going to a cap of $800M to $1.67B very soon. The deal with LP puts a limit of $40/sh for Lincoln park. They can't be forced to buy above that price. That's $1.67B. Lincoln probably insisted on the cap after proper DD indicating the potential near term changes in SP.
Even if the stock only went to an $800M cap corresponding to approximately $19/share, a $100M dilution would only be an 11% dilution. And if the SP goes to $30, such a dilution would only be 7.5%. A noose hanging over investors heads? What an exaggeration! And the money goes back into the company. It's not like it evaporates.
And that is if they executed the entire $100M. It's optional!
It is rare to see a deal without matching warrants. And recently I have been seeing cloaked (in multi layers of bs) magic warrants that multiply as the stock price drops. None of that here. Just like their Share Data tab at the company website... all above board, all totally rationale, all good business.
Maybe that will change someday, but I have to go with how the company has handled itself so far. Compared to that, your input is an annoying little squeak in the background noise.
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