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Zalicus AŞ Message Board

  • xyzsimpleasabc xyzsimpleasabc May 15, 2013 11:38 AM Flag

    look no further

    In so many words the company is telling you they expect the stock to be in the 40-50 cent range.

    Note 'subject to adjustment' - this means Reverse Split is going to happen.

    From the recent 8-K...

    'Pursuant to the Purchase Agreement, upon the satisfaction of all of the conditions to the Company's right to commence sales under the Purchase Agreement (the "Commencement"), LPC is initially purchasing $2,000,000 in shares of Common Stock at $0.605 per share. Thereafter, on any business day and as often as every other business day over the 24-month term of the Purchase Agreement, and up to an aggregate amount of an additional $23,000,000 (subject to certain limitations) in shares of Common Stock, the Company has the right, from time to time, at its sole discretion and subject to certain conditions to direct LPC to purchase up to 500,000 shares of Common Stock. The purchase price of shares of Common Stock pursuant to the Purchase Agreement will be based on prevailing market prices of Common Stock at the time of sales without any fixed discount, and the Company will control the timing and amount of any sales of Common Stock to LPC, but in no event will shares be sold to LPC on a day the Common Stock closing price is less than $0.40 per share, subject to adjustment. In addition, the Company may direct LPC to purchase additional amounts as accelerated purchases if on the date of a regular purchase the closing sale price of the Common Stock is not below $0.50 per share.'

    Yes LPC purchased $2M at 60 cents a share BUT, they also were given 800,000 free shares.

    Do the math and you see this 40-50 cent range (pre R/S) is more than likely.

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