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Is everyone currently choosing to convert to Nasdaq shares or is everyone holding off?
The most imortant reason why $MTP bought bioaf is because it is developing xB3, a platform technology for the transport of therapeutic agents across the blood-brain barrier (BBB)
Market cap must be below cash in hand atm....wtf
At £2.4m market cap you'd think someone would take this company over ? Maybe Janssen could add this to their Christmas shopping list (well here's hoping).. they still have an invested interest.
Surely there needs to be consideration of folding the company instead of the ridiculous merger on offer. Would return more shareholder returns....
I cannot believe how low this has gone I sold out at 50 good luck all
FFS
Stamp mentioned a merger last year , it was one the the reasons I offloaded , he was very open in a private interview when he said by 'July' ( this year) they would either have a raising ( at an attractive price) or a 'merger'
Midatech Pharma PLC-ADR NASDAQ: MTP
I Topped up again *3.25p order executed when down for x-ray 11am , not quite a double up ( 32% deal cost )
$1.16 NASDAQ: MTP at yesterday close .
It opened yesterday @ $1.8 slightly up ! after two hours in had slipped to $1.32 little kick up to $1.41 next 30 mins then falling to a $1.10 low one hour before close.
Up from the low to a $1.16 close .
This was $4 on 7 July 2022 and again on 18th August 2022 , back up to $3.85 on 12th September .
Before the dip to present level starting on 12 December 20222.
Bioasis, with a market cap tonight of CDN $11.5 million, is being bought by a company that goes to bed tonight with a market cap of only about CDN $6 million, and Bioasis shareholders end up with less than 10% of the resulting company.
Together, current Midatech and Bioasis shareholders will end up with less than 50% of the resulting company, meaning that control of the resulting company goes, it appears, to investors brought to the table by Ladenburg Thalmann.
The resulting company can do anything it wants without a single vote from current Midatech and Bioasis shareholders, including selling the company to private concerns, or selling xB3 to private concerns and running the Midatech/Bioasis combination on Cresence EGF stuff.
It looks to me like the current Midatech shareholders are just about as exposed as Bioasis shareholders are.
2.6p is annihilation for all LTH's. I averaged down to 15p and was licking my wounds at 6p but this feels like the end of the road - if he is so happy about the deal and the prospects this creates he needs to start telling the story. Surely he needs to if it requires shareholder approval to proceed?
These are all good questions, I personally believe Stamp has been terrible for the company, he needs to be replaced, also I am trying to find out more about this CMS Medical Venture Investment, what their connection is. The company has attended multiple conferences over the last 6 months, surprised no deals have come out of them, notice though J&J have an interest in the new company, they are some how connected between the two, once again the private investor getting low balled by big pharma, hopefully they dont get the votes to push this dillution through, they should concentrate returning value through their existing pipeline..
So the new company being bought is basically a merger, so no real loss/gain there re the sp, but the placing and warrants ???...that's a massive diluting to the sp, we nearly need a ten bagger to get back to the last placing price..
So where do people see us in 6 months ?, answers most welcome...gla
What's the market cap of the new company?
How much cash?
Does it have the financial wherewithal, scientific teams, and clinical trial infrastructure to advance on its own with the other clinical stage assets and to enter more substantial strategic alliances, etc.
How can the various technology be used together?
How undervalued was the other company itself helping to offset some of the undervaluation to Mtph?
Midatech has been unable to advance for years. Is this new company now viable with cash, clinical trial infrastructure, newsflow from multiple clinical assets, and a NASDAQ listing, etc.?
Reading RNS again, this deal is conditional to a lot of things including shareholder approval at GMs in both companies, courts and placement. GMs in both companies is in the new year no confirmed date:
The Acquisition is conditional, inter alia, upon the Arrangement being approved by the Court and the Bioasis Securityholders, the Private Placement and the approval by Existing Shareholders of the Resolutions at the Company's General Meeting, including the cancellation of admission to trading of the Ordinary Shares on AIM, expected to be held in Q1 2023.
With effect from the AIM Cancellation, Sijmen de Vries will resign as a Director of the Company and Deborah Rathjen and Mario Saltarelli will be appointed as Directors of the Company.
In order to facilitate the transition to a sole listing on NASDAQ, the Company is providing an opportunity for Shareholders to deposit their Ordinary Shares with the Depositary Bank in exchange for delivery of ADSs prior to the AIM Cancellation becoming effective.
Hopefully we will be able to exchange shares for ADSs.
Anyone know dates for this CA ?
First bought these 21/3/2018 ( nearing 5 years )
Something odd possibly consolidation 5/2/2019 .
And again 3/3/2020 .
Bought 3 times between 12th and 16th July 2021 all same number as shares as I bought 14 June 2022 below at a third of the price .
It is a third of the 14th June price after today,s 41% crash .
This after Rns they are buying another bio company .
leaving AIM for Nasdaq it appears .
How are they going they going to ‘fold’?
They have more than sufficient cash reserves for foreseeable future…they’re not running out or begging for cash. They are raising to fund the merger. Like before if you don’t like merger then we can vote this down at GM.
Yes that’ll be end of CEO as this will leave his position untenable this I agree with..
Do you see this as a good deal? Currently $1.10 in US
is quite big.
247 million shares and around 645 million warrants.
read the RNS - this was last chance saloon for Stamp - if this deal doesn't get approval the company will likely fold. I don't need to deramp this, Stamp has done a great job. One minute we were all about 'partnerships' now we are buying other companies for more money than we are worth ourselves!
What nonsense you’re posting fella, they’ve got £6.5m in the bank as of today!
They looking to merge and delist from AIM but stay listed on NASDAQ. If you don’t like the deal then vote it down…unless you trying to deramp this!
... this is approved - Stamp is trying to promote this as a win, and it is - for him and and new shareholders. I will take years for the SP to recover to any reasonable level and AIM traders will now have to transfer to US ADR's in the process. Stamp needs to get an interview set up to explain to the markets why he is so happy. The rest of us are not
Well that's sorted. Lets just all say no :)
Yes only any good for those buying in now, and quite appalling for existing holders unless they want to wait a while to hopefully sell higher on Nasdaq, just shows how difficult it is to raise, luckily I sold 90% of my holding here a while back.
I could recommend a substantially better pharma investment on the verge of major breakthrough, but for the sakes of inappropriate cross ramping will not
GLA here, hope it works out