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Post by liane on Jun 19, 2019 5:14:39 GMT -5
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Post by falconquest on Jun 19, 2019 5:49:37 GMT -5
Might this indicate they anticipate funds flowing in between now and August 31st?
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Post by letitride on Jun 19, 2019 6:00:24 GMT -5
Not sure of the benefit beyond the balance sheet here, with the money sitting in escrow.
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Post by apidistra on Jun 19, 2019 6:33:16 GMT -5
I don't understand this, especially what Deerfield gets out of it. What is the consideration in this bargain, forbearance?
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Post by sportsrancho on Jun 19, 2019 6:35:15 GMT -5
Mike said he would explain it on the CC.
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Post by sportsrancho on Jun 19, 2019 6:59:08 GMT -5
Addictiontomoney $MNKD I was informed yesterday that there would be 2 payments in July to pay remaining balance for DF, they will be paid in full 😀 Rose said payments would be July 1 and July 18
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Post by sportsrancho on Jun 19, 2019 7:06:11 GMT -5
Kevinmik
$MNKD today's sec filing shows MNKD entered into an 11th Amendment Agreement with Deerfield that defers $5 million payment from July 1st to August 31st, out of a total $9 million owed to Deerfield on July 1st. MNKD 10th Amendment with Deerfield was done back in Sept 2018, that coincided with the signing of the United Therapeutic Agreement and that Amendment had MNKD deferring $3 million payment from Sept 30th to Oct 31st, pending receiving $40 million upfront payment from United. So today's 11th Deerfield Amendment was likely done with the expectation MNKD is to receive a cash infusion by August 31st from some source. The 10th Amendment in 2018 quotes the United Deal & $40 upfront payment from United in it, but today's 11th Amendment doesn't provide any transparency about the reason for the payment extension. investors.mannkindcorp.com/... investors.mannkindcorp.com/...
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Post by rtmd on Jun 19, 2019 7:39:41 GMT -5
I don't get it. They defer the 5 million dollar payment from July 1 to August 31 I understand. But to do that Mannkind has to deposit in escrow sufficient funds to cover the July payment? That makes absolutely no sense to me. Is Deerfield worried Mannkind might not be able to make the July payment?
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Post by hellodolly on Jun 19, 2019 7:48:35 GMT -5
I don't get it. They defer the 5 million dollar payment from July 1 to August 31 I understand. But to do that Mannkind has to deposit in escrow sufficient funds to cover the July payment? That makes absolutely no sense to me. Is Deerfield worried Mannkind might not be able to make the July payment? Why should they be worried? MNKD already has the cash, it's a deferment and there very well could be some infusion of more cash in between the 60 days. No, I wouldn't say they are worried, at all.
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Post by peppy on Jun 19, 2019 7:48:52 GMT -5
Addictiontomoney $MNKD I was informed yesterday that there would be 2 payments in July to pay remaining balance for DF, they will be paid in full 😀 Rose said payments would be July 1 and July 18Once again, is this public? Public Corporation and all..... Why would addictiontomoney be told?
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Post by awesomo on Jun 19, 2019 7:49:19 GMT -5
So much for the people on here clamoring for the magical July 2nd when Deerfield would be paid off and Mike could reveal his glorious plans for the future onto us.
Same old crap...
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Post by peppy on Jun 19, 2019 7:53:18 GMT -5
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Post by apidistra on Jun 19, 2019 8:14:07 GMT -5
Unless the money is escrowed so that it may be reinvested? Essentially unused but still debt paid?
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Post by rtmd on Jun 19, 2019 8:22:26 GMT -5
I don't get it. They defer the 5 million dollar payment from July 1 to August 31 I understand. But to do that Mannkind has to deposit in escrow sufficient funds to cover the July payment? That makes absolutely no sense to me. Is Deerfield worried Mannkind might not be able to make the July payment? Why should they be worried? MNKD already has the cash, it's a deferment and there very well could be some infusion of more cash in between the 60 days. No, I wouldn't say they are worried, at all. Exactly, I don't see the purpose behind the deal.
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Post by traderdennis on Jun 19, 2019 8:52:05 GMT -5
If the 20 million minimum cash balance does not go away with the final payment then the company is still looking for funds from the atm or other sources. In escrow would count towards the balance.
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