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Zalicus AŞ Message Board

  • bigwithz944 bigwithz944 Jul 12, 2013 3:58 PM Flag

    you must be foolish

    to think anything is going to happen with this stock

    Next up will be Reverse Split and pps could drop to 35-45 cent range (pre split)

    Remember they are willing to sell shares to raise money for 40 cents a share

    From 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

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