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1.4¢ chimeric therapeutics limited

Ann: CHM Secures Further $1M Investment, page-10

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Steini

12,694 Posts.

3876

05/01/24

04:09

Post #: 71734019
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Originally posted by fourdollars: ↑

$1.1m in shares.
Commitment fee = $30,000
According to CHM, the options are worth 1.95c each = $336,205 (Black Scholes had them at 2.2c, but lets not quibble)
So in total, Chimeric has paid $1,466,205 just to end up with $1,000,000 cash.

Another way of looking at it is:
The "deemed" $1.1m required the issue of 30,555,556 shares (ie 3.6cps)
$336,205 (the value of the options according to CHM) at 3.6cps = 9,339,028 shares
$30,000 at 3.6cps = 833,333 shares.

In total, CHM issued the equivalent of 40,727,917 shares for $1m. Effective issue price of under 2.5cps.

But its not all bad. At least Jen's remuneration is shored up for another 4 months ...

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Early in the morning, doing the "Old Man's Nightly Pee Run" and checked your calculations.

Using the June'23 and yesterday's anns are you sure your calcs are correct?

Just by estimating, Lind pays in the 3c range, not 2.5c.

Would explain why they rejected my, after RI shortfall, 2.8c offer.

GLTA

CHM Price at posting: 3.8¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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