Well, we know as fact that GLG got shares in return for something, and that something most likely being funding. So there is no doubt about a financial connection between both entities.
There is also nothing bad about securing financing. On the contrary, receiving funding in develpment stage is a document of approval and confidence in the business plan.
So, I would rephrase the question. I would like to know if the connection between GLG and MFLI is that of a "traditional" VC funding relationship which would also include what is at stake to GLG for entering this deal.
- Is GLG a VC firm? If so, do they have rights to management capacity? This is a standard requirement for VC firms and normally be achieved through a seat on the BOD (Sid Dutchak?)
- How much funding did they provide and under which terms
- What is the issuance price of the shares
- Are there loan collaterals in place (secured to assets?)
These questions should be answered in the standard 8-k format.
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