How is this massive dilution?? $300k at around prob $0.10-$0.15 cents is $30-$45k for a company that will need to PR for future product releases. Very fair deal for these types of contracts and it is a 12-month contract. If anything, they conserved cash. Stop lying... terrible post.
Including $3.2 from Dr. Schinazi. COCP is on the way to great things.
"On March 25, 2015, Cocrystal Pharma, Inc. (the “Company”) accepted subscription agreements representing investor commitments totaling $15,000,000 in a private placement offering (the “Offering”) of 16,304,350 shares of the Company’s common stock at a purchase price of $0.92 per share. The purchasers included all seven members of the Company’s board of directors and Dr. Roger Kornberg, the Company’s Chief Scientist. As of the date of this report, the Company has received over 50% of the committed funds, and the remaining funds are expected to be received within the next week, with the exception of funds committed by the Company’s Chairman, Dr. Raymond F. Schinazi. The $15,000,000 in total investor commitments includes a subscription by Dr. Schinazi in the amount of $3,187,667. The closing of Dr. Schinazi’s purchase is subject to the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended."
No quiet period,but don't expect any news until then. Other than possible funding by Frost and company in anticipation of closing. Based on Frost's and friends' ownership in Levon, the vote is guaranteed.
Thanks for all the good thoughts! I disagree with you on the merger with COCP. Since COCP is already public, why merge SciVac with LVNVF only to then merge with COCP. I think Frost is merging SciVac to get more funding into it and have it be a standalone public company (unlock the value as he calls it). My prediction is that another small biotech mergers with LVNVF post SciVac to give it more drug candidates.
Hahaha, boiler, I think you may need to recalculate :) I'm sure you're a smart guy, but fyi, when they say fiscal year ending 3/31/2016, that very very clearly means on or before 3/31/2016. This is typical terminology that companies use to say when their fiscal year ends. For ex, fiscal year ended 12/31/2014, means the fiscal year that ended December 31, 2014. Fiscal year ending (key part is ending) December 31, 2015 refers to the fiscal year which will end on December 31, 2015... So this means a filing on or before 3/31/2016.
They're still serving as CEO and president, no shake up. I read this as Frost preparing COCP for a buyout by...? Maybe OPK for stock, especially considering how high OPK's price has risen, similar to what he did with Prolor. Otherwise, why else would they agree to terminate their benefits upon their termination which hasn't occurred yet?
This is not new dilution, it's already accounted for. The shares are preferred stock now and will be converted into common stock. This is not new, but old news. Plus about 80% is owned by insiders, Frost and OPK.
Just a warrants transfer from 3 people to 1. This allows the transferee to take advantage of the registration statement. Non event.
Schedule 13G/A is an amendment to Schedule 13G, not an acquisition. As of 12/31/13 they owned 16,917,397, now as of 12/31/14 they own 7,270,690, it's reduction of about 10m shares, but still a sizeable stake remaining.