Hercules Warrants Over 20%?2 Oct 2019 11:39
Slightly confused here reading today’s RNS. Mon rns stated Hercules will be granted warrant for 20% equity, but today’s rns states warrants OVER 20%...it reads like they want more?
Today’s rns
‘a resolution to renew the Company's share authorities to enable the Company to grant a warrant over a total of 20% of the Company's share capital, as enlarged by the Placing, to Hercules Capital, Inc.; and
Mon rns
Hercules will receive a warrant for an additional 20% of Motif Bio's post capital raise outstanding ordinary shares at an exercise price of 5 pence (subject to adjustment). With this warrant position, Hercules will benefit from the future success of Motif Bio and potential upside in a successful monetization of iclaprim.