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TOPIC: Preferred C conversion reduction

Preferred C conversion reduction 02 Aug 2019 23:22 #13092

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I found an 8K in my mailbox this morning-

On August 2, 2019, in connection with a sale of common stock by Plus Therapeutics, Inc. (the “Company”), the Company notified holders of the Company’s Series C Convertible Preferred Stock that the conversion price of such stock has been reduced from $0.7986 to $0.15, and the Company notified holders of the Company’s Series T Warrants that the exercise price of such warrants has been reduced from $0.7986 to $0.15.

So- besides some good news for C holders, it also seems to indicate that they raised some money, which reporting is still to come?

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Preferred C conversion reduction 03 Aug 2019 06:05 #13093

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Anyway- slowly but gradually I see a plan being executed which was constructed in early 2018, lead to the "departure" of Rickey etc, and over the "stations", public offering, Lincoln Park, divestitures of the CCT business, move of HQ, change of Company name etc brought us where we are. What is missing is the sale of the ATI-0918 product to raise WC. :whistle:

Time will tell.

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Preferred C conversion reduction 03 Aug 2019 06:30 #13094

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fas wrote: I found an 8K in my mailbox this morning-

On August 2, 2019, in connection with a sale of common stock by Plus Therapeutics, Inc. (the “Company”), the Company notified holders of the Company’s Series C Convertible Preferred Stock that the conversion price of such stock has been reduced from $0.7986 to $0.15, and the Company notified holders of the Company’s Series T Warrants that the exercise price of such warrants has been reduced from $0.7986 to $0.15.

So- besides some good news for C holders, it also seems to indicate that they raised some money, which reporting is still to come?

/

Fas, refresh my memory - are the Series T warrants the publicly traded PSTVZ?

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Preferred C conversion reduction 03 Aug 2019 09:28 #13095

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rodney.strongg wrote:

Fas, refresh my memory - are the Series T warrants the publicly traded PSTVZ?


No Series T were never traded, they are just sitting in the accounts of the participants of the last PO. PSTVZ is from the last RO (not PO) - from the top of my head one needs many- 500 I believe, for the right to purchase a share at about 150$ or so.....:grin: :grin: (from monday)

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Preferred C conversion reduction 03 Aug 2019 10:51 #13096

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fas wrote:

rodney.strongg wrote:

Fas, refresh my memory - are the Series T warrants the publicly traded PSTVZ?


No Series T were never traded, they are just sitting in the accounts of the participants of the last PO. PSTVZ is from the last RO (not PO) - from the top of my head one needs many- 500 I believe, for the right to purchase a share at about 150$ or so.....:grin: :grin: (from monday)

/

That's too bad - I still own a bunch of the PSTVZ. :bash:

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Preferred C conversion reduction 03 Aug 2019 11:07 #13097

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Fas
So it is sounding like they raised some $ through warrant conversion.

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Preferred C conversion reduction 03 Aug 2019 13:28 #13099

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myownhedgefund wrote: Fas
So it is sounding like they raised some $ through warrant conversion.


I do not think so, it literally says- On August 2, 2019, in connection with a sale of common stock by Plus Therapeutics, Inc. (the “Company”), etc etc, that rule on lowering the conversion rate for preferred C was applied. So- it seems they sold common at a lower than market i.e. 15 cents versus roughly 20 cents on Friday to somebody (a non-contractual ADM partner) for that rule to be triggered in my view.

The side effect obviously was the after-hours melt-down, but I view that as non-consequential. The closing price should determine the after-split price, which should be close to 10$. Somebody tried to teach me for years (in vain of course) that that level is very important for instis to come into a stock, We will see.

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Preferred C conversion reduction 03 Aug 2019 22:53 #13101

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I see. Thanks Fas.

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Preferred C conversion reduction 04 Aug 2019 18:43 #13103

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fas wrote: I found an 8K in my mailbox this morning-

On August 2, 2019, in connection with a sale of common stock by Plus Therapeutics, Inc. (the “Company”), the Company notified holders of the Company’s Series C Convertible Preferred Stock that the conversion price of such stock has been reduced from $0.7986 to $0.15, and the Company notified holders of the Company’s Series T Warrants that the exercise price of such warrants has been reduced from $0.7986 to $0.15.

So- besides some good news for C holders, it also seems to indicate that they raised some money, which reporting is still to come?


I believe from what someone posted, the RS takes place tomorrow on Aug 5. Must the C’s be converted prior to the RS taking place?
Perhaps a call to the brokerage is the best way to obtain the answers.
Thanks for your reply Fas to the PM.

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Preferred C conversion reduction 05 Aug 2019 03:35 #13104

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Must the C’s be converted prior to the RS taking place?


No- that is practically impossible, because the event (some of us) were hoping for- was announced only on August 2 after closing hours. Since the conversion reduction really unexpectedly happened, there really is no good reason any longer to NOT to convert. I will probably do that as well this week and keep the warrants and simply hope PSTV can turn the negative tide. In Holland they say- you never know if a cow can catch a hare. Meaning the impossible occasionally happens. :grin:
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Preferred C conversion reduction 05 Aug 2019 09:17 #13105

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Put the call in to convert my Cs this morning Fas, I also will hang onto the warrants to see what develops.
Thanks again for bringing this info to my attention.

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Preferred C conversion reduction 05 Aug 2019 15:11 #13109

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I never played the warrants or preferred game here but good luck for those converting.

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