Ann: Issuance of Milestone Shares Under Vaxinia Acquisition, page-59

If IMU had paid cash upfront, it would have had to come up with that cash. Instead, the deal that was negotiated was to pay IMU shares instead of cash which lessens the financial burden on IMU (as we keep most of our cash for the research and trials), and the value of that deal would have been (if I'm right about the pricing) pegged at the price of IMU at that time. In addition, the seller (PH's company) takes on the risk of the payment milestones instead of getting paid everything upfront. To me this seems to have been a fantastic deal for IMU shareholders.


This explanation by Wiet is simply brilliant and says it all.
Fantastic post and worth 100 globes. Thanks