On the heels of extending the maturity date of the company’s bridge loans to year end 2019, the company is now testing the waters for a Reg. A+ short form registered offering of shares, via a rights package to existing holders, at a price as yet undetermined. Specifically, the company says it is “contemplating conducting a broadly syndicated rights offering…[precise terms TBD].”
The presser is here; and that prior link above is the maturity extender, filed with the SEC on October 8.
“…Humanigen plans to “test the waters” to gauge market demand for its proposed Regulation A+ rights offering prior to filing the Offering Statement with the SEC. No money or other consideration is being solicited at this time, and if sent in response, will not be accepted. No offer to buy the Shares or other securities can be accepted and no part of the purchase price can be received until the Offering Statement is filed with the SEC and qualified, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date of the Offering Statement. Any person’s indication of interest regarding the Shares or this press release involves no obligation or commitment of any kind….”
Now you know. I foresee at least one more maturity extender, on the bridge, before this all gets placed.
Possibly out to February 2020. We shall see. [I had a spike in traffic this morning, here — and noticed that it is likely due to the above events being announced, but not yet SEC filed. That should come by an SEC Form 8-K — in two days. Onward.]