Warrants2 Sep 2019 20:52
As part of completion of the Pre-Series A funding round, the Company shall issue a total of 43,666,667 warrants for new ordinary shares, each exercisable at 150% of the Company's Initial Public Offering (IPO) price with a term of two years from IPO (IPO Warrants).
So if the IPO is at 3p, say, for example, that would mean the warrants wouldn't be exercisable unless the share price was at 7.5 pence (within 2 years of IPO). (4p IPO would mean 10p).
Doesn't that inspire some kind of confidence?
It does to me......although, I probably will of starved to death by the time the IPO comes around.