Not only is the discount tiny, but Cellceutix decides when to place the shares. This completely takes away any advantage Aspire may have in timing their entries. Only Cellceutix decides when he price is right.
5% - 10% off the market price of the day Cellceutix chooses? Good gosh, I can time my entries better than that, Aspire has a major handicap here and the best technical analysts in the world can't overcome it because Cellceutix is in the driver's seat.
Most private placements are at a 15% to 20% discount, and the firm buying the shares decides when and if they sign the agreement based upon how the share price is behaving.
Often there are warrants attached as well (essentially free options for additional shares).
This deal has no warrants.
Often there are convertible Preferred Shares.
This deal has no Preferred Shares.
Aspire prohibited against selling short (hedging). No warning to Aspire so they could hedge in some sneaky way off-shore (happens all the time).
And, Celleceutix decides when and even if they issue this small amount of shares as even more favourable opportunities could present!
Goodbye 'Going Concern' statement and worry about CTIX basic financials.
No need to cut a toxic financing deal to keep operations going. No need to negotiate with a potential buy-out or strategic investor from a position of weakness.
This deal is tremendously favourable for CTIX shareholders. No real surprise as the insiders who negotiated it own ~72.41% of CTIX common shares themselves!
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