CytoDyn is planning to do a resale of existing warrants. I am not familiar with this type of sale. But before an offering can be announced certain other documents must be filed with the SEC. Regarding this sale I believe so far we have seen a S-3 registration, a S-3/A amendment to the registration and today's prospectus. The offering (which is yet to be filed) is where you will get the most important details regarding the sale, i.e. price, quantity, type, etc. In my opinion they are preparing this sale to take advantage of higher prices in the future. And in my opinion I think cleaning up the existing warrants vs issuing new shares is an excellent choice for future funding.
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