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Pernix Therapeutics Holdings, Inc. Message Board

  • macteague macteague Apr 22, 2013 6:32 PM Flag

    $24M Put Rights

    Wow. Did anyone notice this before? From the 8-K disclosures upon closing of the Cypress deal:

    With respect to the Stock Consideration, the Company also granted a put right such that the Sellers may put such shares to the Company at approximately $5.38 per share, with such put being exercisable from January 1, 2014 until January 31, 2014.

    This is approximately $24 million. That is equal to cash-on-hand as of the end of 2012, and 50% of working capital as of that date. Here's hoping the stock is trading above $5.38/share come January 2014...

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