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Reading through the prospectus, once the full £2m is taken (and assuming they don’t keep going for the full £5m), EHGOS will have accrued £600,000 in warrants set at 120% of the prevailing price or 0.07p, whichever is the lower.
That’s another 700,000 shares hitting the market (at least), once all of the money has been raised. Quite an overhang.
Maybe it could give them an incentive to raise the price as we head towards the £2m? Better for them to have the price at 0.2p and transfer the warrants.
Quite a way from that point now though, only 10% of the minimum has been drawn down. Expect the full £2m to be another 18 months away?

The first draw down was 7th April, so they had enough past days’ data to get an accurate figure. Lowest VWAP was 0.016 according to what I can see. So 0.0144 for the share issue.
Did anything get challenged around why ICON agreed to 0.009?

There’s also an extra 15% more shares in circulation soon, which should bring the price down to around 0.021 at best.
It is a worry that the Directors haven’t bought any. VAR was one of my previous shares where they had nothing to gain from the share price (actually it’s still a current share but doesn’t count as I’m 99.05% down there - only keep it for the warning every time I open my account).
The other concern is why they waited until after close of business today. They had news yesterday which was always going to prop up the price, makes sense to do it then (or prior)

I’ve been banned from the other site for asking questions like this. Be interested to see if anybody here has any answers or opinions...

Why 0.2? Lowest closing VWAP is today at 0.0255, so they should have converted at 0.02295?

Unless I’ve misread the below from the prospectus.
“The Conversion Price for the Financing Notes on a Voluntary Conversion or Mandatory Conversion alike will be 90 per cent. of the lowest closing VWAP of the Ordinary Shares in the 15 trading days prior to conversion, provided that the Conversion Price will not be less than the nominal value of the Ordinary Shares.”

Looking to invest if I can get in under 0.025p but don’t want to just see it continue back down to the 0.015 mark if they can keep taking shares at 0.009...

Is it possible ICON will have already taken a third £50k at 0.009p, but are not able to report that until the second tranche has been sold through?
And by that logic, they may have taken a fourth and fifth tranche to fulfil the £250k limit, all at 0.009p?
I was expecting their next draw down to be at a much higher level based on recent sp levels.

The RNS says “Once issued, the notes can be converted at the higher of 90 per cent. of the lowest closing volume weighted average price (VWAP) of the ordinary shares during the applicable period preceding the date they are to be converted and the nominal value of the ordinary shares.”
What is the “applicable period”? Would have expected a specific time to be included...

Ignore the “??”, was meant to be an emoji!

Thanks ??

Does anybody know if the Blautix IBS study primary results will be published?
Looking at the trials website, Primary completion was estimated for March 2020, with study results in June.
Or are the primary results company info, made public when the overall study results come out?

This isn’t one of the boom-bust biotechs though.

4D were running at over £1 in Feb and were over £2 just 12 months ago. Everything is much further down the line now and with the added bonus of a possible Covid-19 treatment.

If anything, there’s lots simply not priced in.

Looking at the company accounts, SAR are currently running through £700k every 6 months, with around £500-£600k left in the coffers.

Something will have to give soon...

Looks like the same amount of shares so must be balancing out yesterday’s trade

No worries. I think LSE website is all over the place, still. I can’t even see my previous posts

Weird. It’s sitting between 11:36am & 12:31pm on mine

The trade is still showing here...

Nice buy. Wonder if that's why the price dropped... time for an uplift methinks 👍

£115k buy, 10 mins before the end of trading and well over the ask. Is that the one we'll look back on and say, 'mmm, leaky ship' when a big RNS drops in the morning? I wonder.

Nice upward momentum this morning. Tbf, it should have happened yesterday based on the trades.

It'll dilute our holding by 0.14% as far as I can tell. So, nothing.

Great video, thanks for sharing.

"Medical tech firm Angle revealed it will advance applications of its Parsortix cancer cell filter in ovarian cancer, and it arranged a £8.8mln issue of shares. It also signed an agreement with a specialist unit of Texas University to investigate Parsortix's use in colorectal cancer."