Factom 90 Ffwd results23 Jul 2019 22:04
if Factom fails to complete a financing, then the Purchase Amount will be converted to shares of a new series of preferred stock at a default price per share on the terms set forth in the SAFE agreement;
- the SAFE Agreement includes certain situations where the Long-Stop Date can be extended by 90 days to finalize and close definitive transaction documents
Results are likely being held back for the above event as it will dramatically increase the NAV on a post results update RNS.
Series B delay should mean an excellent uplift due to default price as I can’t imagine this would be for less equity than we were receiving via Series B and should be significantly more. Hence any subsequent series B will give our valuation a super boost.