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Tonix Pharmaceuticals Holding Corp Message Board

  • mike57dk mike57dk Jun 3, 2014 8:33 PM Flag

    Notes from the Annual meeting booklet

    Was skimming thru the Shareholder meeting / agenda booklet ...and picked up some tidbits of interest that might be worth sharing :

    Audited number of shares outstanding as of May1,2014 = 9,929,206

    Seth Lederman has beneficial ownership / control over 534,284 shares or 5.30% of the total - this includes underlying options and warrants.

    Officers and Directors of the company own / control 12.32% of the company

    Technologies Partners Fund VIII LP - owns 1,025,913 shares or 9.86% of TNXP and according to the footnote ..that does NOT include 133,334 shares purchased in the Jan 2014 offering ( $15 per share )

    Shiela Mutter and Roger Quy in Mill Valley California are the managing partners of Technology Partners VIII and have voting and investment power over the shares ....

    Seth Lederman has 18,471 option shares he can exercise and another 16,529 option shares essentially not vested - both lots are struck at $30.00 per share ..but which extend out in time until 2022

    Dr Lederman has another lot of 67,500 option shares struck at $10.20 per share that expire in 2023

    Essentially - Any change of control to the company would have to include the immediate vesting and cash out of all unvested options / restricted stock / warrants ....( page A-8 ) with a cash award equal to the amount that could have been obtained if the shares / options / warrants were un-restricted.

    OPINION - Nothing nefarious ..truth is that I believe its a good thing when the officers and insiders are well entrenched with ownership of shares ...Dr Lederman has 35,000 option shares at $30.00 per share ..with a 2022/ 2023 expiration ...which are essentially valueless TODAY ...but obviously he believes that sometime in the future ...having the ability to pay $30 per share for TNXP will be a BIG BENEFIT is a BULLISH sign and indicative of his belief in the company ...

    Have more stuff ...but will post later - hope this proves helpful for some folks - Thx for reading

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