Replies to post #26675 on Galaxy Next Generation Inc (fka GAXYQ)

[common_cents]

yep. but not until there is an S1 filing. Big deal. less than One days' worth of volume

CC

[Fufat]

Pursuant to the Amended Purchase Agreement, the Investor committed to purchase, subject to certain restrictions and conditions, up to $10.0 million worth (the "Commitment") of the Company's common stock over a period of 24 months from the effectiveness of the registration statement registering the resale of shares purchased by the Investor pursuant to the Amended Purchase Agreement. The Company has issued 50.0 million shares of its common stock (the "Commitment Shares") to the Investor as a commitment fee.

The Amended Purchase Agreement provides that at any time after the effective date of the Registration Statement, from time to time on any business day selected by the Company, the Company shall have the right, but not the obligation, to direct the Investor to buy the lesser of 500,000 shares of its common stock per sale or 300% of the average shares traded for the 10 days prior to the closing request date, at a purchase price of 85% of the lowest average daily traded price during the ten trading days commencing on the first trading day following delivery and clearing of the delivered shares, with a minimum request of $200,000. The payment for the shares covered by each request notice will occur on the business day the Investor receives the trade settlement for the purchased shares.

The takeaway,

Up to $10 million dollars worth of common shares
Less than 500,000 share purchased per sale.
A purchase price of 85% of the lowest avaerage daily trading price for 10 trading days.

$10 million? That is a lot of shares.


AMHO.

Good Luck To All!