Update what was expected30 Sep 2020 08:51
Looks good and confirms what we know. Funded until end of 2023 and this bit is a positive -
On 8 September 2020, as a consequence of the convertible security deeds and option deeds with L1 Capital Global Opportunities Master Fund ("L1") and Lind Global Macro Fund LP ("Lind"), the benchmark price referred to in the two Lanstead sharing agreements has increased from 13.33p to 20p. The varied benchmark price of 20p applies to 13 monthly settlements remaining under the sharing agreement dated 26 June 2019 and 22 monthly settlements under the sharing agreement dated 30 March 2020.
Eureka and their peptide line up is another positive and well the Incanthera stock subscription is a no brainer - their development of Sol is going well and bodes well for our 15.35% holding.
Now we await the ratification of the SPA from the FDA and then we are looking at a significant re-rate 30p +