"weakness in the negotiation with the RA Capital"... or perhaps "Management is just giving away the company to their friends"... There is no doubt BLT very well needed these new funds, but the more I consider... the more I smell a rat here!
I believe BLTs "Leadership" have placed themselves into a very compromising position by giving away... yes GIVING AWAY such a large chunk of the registry at this point in time. Those options are just gifts to new "friends"!
For all of the confidence being displayed by Management in the past months for Clinical Trial, they have demonstrated a distinct lack of confidence in the program by going a bit too early in my opinion. They could very easily have issued the second tranche of funding to include participation by existing holders... even if that was at a decreased level.
They would want to be very sure that they have crossed their T's and dotted their I's or they may well see a remuneration vote back lash where pre-existing major holders get shafted in the coming months. This may only become blatantly obvious to pre-existing major holders once the penny drops and they see that their % holdings have been obliterated and they lose their ability to cast a significant vote!
BLT Price at posting:
$1.59 Sentiment: None Disclosure: Held
