By way of loan , you mean guaranteed payback with 10-20% interest effectively and 100% free warrants . I would rather they sell 5M shares in open market . That will be much cheaper for shareholders long term .
Linda has enough of her own liquid assets to make a $1 million stick purchase without liquidating a portion of her investment in Immune Bio, let alone selling at a discount.
The timing is a clue. This is audit season and this may be a disclosure related issue to bring her ownership below a certain threshold, perhaps less than 10% to avoid having to report on governance or conflict related matters.