as i told you before $20M debt matures soon , SCMP might need money so they will issue debt securities at a yearly interest to another entity that is convertible to class A common stock in future to pay debt sucampo switzerland which is kind of plan to delay the debt between parties. İf you dont get it let me know:)
Bottom line, SCMP is way undervalued, big guys will get in soon if OIC get approved they will be acquired too. Everything is laid out nice on prospectus read it carefully
We have entered into a sales agreement with Cantor Fitzgerald & Co. relating to shares of our class A common stock offered by this prospectus. In accordance with the terms of the sales agreement, we may offer and sell up to $20,000,000 of shares of our class A common stock, $0.01 par value per share, from time to time through Cantor Fitzgerald & Co. acting as agent.
Nomasku, thanks for your informative posts. I don't see this as just rolling over $20M in debt unfortunately. That wouldn't serve the interests of large institutionals who want to buy equity cheap or Ueda who'd like to cash out what he can given he is owed the debt. I am out right now given my concerns about this financing overhang but once this financing actually gets done, it will be a nice opportunity to buy back in going into likely Amitiza sNDA approval.