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Zalicus Inc. Message Board

  • jkwelli jkwelli Jul 15, 2013 9:06 PM Flag

    Can't ZLCS Require Lincoln to Buy shares?

    I recall that ZLCS could require lincoln to buy ZLCS shares at whatever time they desired up to a certain threshold.
    Am I wrong on this?

    Why is it bullish if ZLCS needs more money to pay bills and dilute shareholders?

    If ZLCS is going to hit a home run, why not wait until their share price jumps to require lincoln to buy shares?

    Doesn't look good to me. At very least I need to reread the terms of the deal.

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    • Could be massive dilution. $23 million is 37% of market cap.
      This from business wire:
      "Zalicus has the right, at its sole discretion, over a period of two years to sell up to an additional $23.0 million in shares of its common stock to Lincoln Park under the terms set forth in the agreement. Zalicus will control the timing and amount of any common stock sales to Lincoln Park. The agreement may be terminated by Zalicus at any time, at its sole discretion, without any cost or penalty. "

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