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Post by ghochr on Oct 3, 2017 19:05:44 GMT -5
BoD telegraphed confidence in biz dev by raising ATM to $50M. That would improve leverage in negotiations as well. It's a pretty bullish signal. What international expansion announcements (plurals) do you think will be announced next? Oman, Saudi Arabia were added next to UAE. Why? One stone kills 3 birds? Mexico, Canada: U.S. Is member of NAFTA, no tariff, lower shipping cost. This would make A cheaper than Sanofi's, Novo's. The urgency is now before Trump renegotiates NAFTA. S Africa was added to India. Why? No frig needed if used within 30 days. Cipla? China. Why? 3-way joint venture between a local Chinese firm, AMPH, Mnkd? First let’s hear about Brazil and BIOM where the news is out since May |
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Post by patten1962 on Oct 5, 2017 19:48:53 GMT -5
There was no money raised. There was an exchange of shares for warrants outstanding. 1.3MM shares issued in exchange for removing the reserve of 8.4MM shares that couldve been issued by the warrants. Brings the total available shares that could be issued up to 22.4MM.
Also there was a restriction under the warrant agreement that MNKD could only tap the ATM for $10MM. They can now use the full $50MM available.
My opinion here is that it doesnt sound like they want to go this way, but have now put another tool in their belt for leverage.
22.4 million available shares possibly could be issued at approximately $2 to generate $45 million in new funds for MNKD. With the ATM limit up to $50 million (is $10 million already drawn?), this would make another $40 million available.
Together, that is $85 million to draw upon if needed. That should lengthen the runway considerably from what it was prior to today.
Someone asked me today and I have no idea how to answer. Is it possible for those warrants to be used in some type of partnership? If this has been talked about somewhere else I apologize it's hard to read every post on every thread. |
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