Replies to post #28895 on Delcath Systems Inc (DCTH)

[andrius]

I don't think shares that were issued are restricted. In the filing it clearly states they are not restricted and freely tradable.

1. Exchange . On the date hereof, pursuant to Section 3(a)(9) of the 1933 Act, the Holder hereby agrees to convey, assign and transfer the Existing Note to the Company in exchange for which the Company agrees to issue the Exchange Common Shares and the Rights to the Holder. On the date hereof, in exchange for the Existing Note, the Company shall deliver (a) the Exchange Common Shares to the Holder by deposit/withdrawal at custodian in accordance with the instructions attached hereto as Schedule I , which Exchange Common Shares shall be issued without restricted legend and shall be freely tradable by the Holder or (b) cause to be delivered to the Holder (or its designee) a certificate evidencing the Rights at the

address for delivery set forth on the Schedule of Buyers to the Securities Purchase Agreement. Simultaneously with the transactions set forth in the preceding sentences in this paragraph, the transactions set forth in clauses (ii) and (iii) of Recital B above shall be consummated.