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."
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?
Just a warrants transfer from 3 people to 1. This allows the transferee to take advantage of the registration statement. Non event.
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.
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.
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.
Looks good so far, additional grants expected. Considering that they hired a PR consultant, expect more frequent updates from the company.
Arlo, exactly. That's why LVNVF will not merger with COCP. I have been saying this for a week now. 2 separate public companies, why merger SciVac with one pubco and then merger 2 pubcos? Unnecessary expenses, time wasted, etc.
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.
LVNVF will not merge with COCP, doesn't make any sense. Maybe collaboration. I expect a merger of another private biotech with LVNVF or them to continuing to develop other drugs.
That's only registered holders Midge. Doesn't count for guys like you and me who hold stock in street name (brokerages, etc.). Real # is probably closer to 750-1000.