Ann: Application for quotation of securities - PAA, page-49

Yes deals can be conditional to many Milestones ,, The Take Over of RAP was when the FDA application was almost completed ,, in fact 3 days after the Sale was completed Pfizer was granted FDA Approval and begun earning from the Resapp app with in days of the deal being completed..

Big Pharma are smart ,, Pfizer had lent a couple of Million to RAP to get the company through the sales process , from memory $3 or $4m and then if the deal didnt go through then RAP SH had to either sell or Raise the $4m and it required operating Capital ,, so it was either sell or CR..

Pfizer had already gained Intel from the exercise ( 1st vote @11c per share) but eventually after RAP had gained a Commercial Valuation Pfizer paid 20.8c ..at First many of the large holders were holdfast but then realised the smaller holders would sell so , the long and short was Pfizer would place their own Board Members and implement their Agenda anyway ,,so the larger holders sold as well...

I'd say $400m at present is fair market value ,,, once ODD is granted that will increase as it allows PAA to Revenue from MPL in the MND space..
2017 was the last time PAA had a commercial Valuation .. so must be due again NZT best to have an independent 3rd party Current Valuation when negotiating ..
Busy day elsewhere today ,,Biotech is running hot ,,, good luck PAA Holders NZT
watch this weeks reaction @DXB