That’s a reach. Deferred payments in M&A deals are normal structuring, not some secret approval timeline. 90-day buffer = integration/admin window, nothing to do with MHRA. It says "beginning 90 days after the acquisition agreement." how do you connect that with the decision timeline? Accelerated payments on approval = standard milestone-linked payout. Incentivizes sellers, protects buyer’s cash. In other words they are saying we have loads of cash after the approval and can pay Toucan then rapido.
The wording doesn’t imply they won’t have approval within 90 days — it just sets a minimum payment start date and leaves room for earlier acceleration if approval is achieved quickly. IMO.
With Advent’s infrastructure now merged, NWBO likely already has its MHRA PAR notice — labeling and pricing talks are underway, setting the stage for the actual approval and a potential rapid short-covering rally. Did you cover your 40c shorts?
“ The consideration for the acquisition will be paid in installments over two years, beginning 90 days after the acquisition agreement, with potential acceleration after regulatory approval of the Company’s DCVax®-L product. ”
It definitely depends on how someone reads this statement from the PR...without saying IMO.
The "potential acceleration" could mean what you fear.
It also could mean that the "potential acceleration" could be the 'whole statement' of: "...will be paid in installments over two years, beginning 90 days after the acquisition agreement."
Which 'could' mean that if approval comes, payments will be accelerated...period.
Acceleration can occur during the 90 day period where no payments are being made. In my opinion, there was some catalyst behind this transaction. This was not a complicated deal. It could have been done back in March when they announced it. I believe they were waiting for something to occur before finalizing this deal. It might be an upcoming approval but I feel it's more geared towards some type of partnership. I think it's too early for a BO. An approval also doesn't seem to fit as they could have continued with Advent as a related party. Again, this is all my opinion and I could be completely off the mark.