Under the agreement, MGC Pharma will be issued 25% equity holding in Panax upfront, and will be issued a further 55% of Panax for funding the next year’s operational costs, up to a maximum of €700,000 (total 80% equity interest acquired).
•
MGC Pharma holds the rights through an option to acquire the final 20% of Panax for €800,000 in MGC Pharma ordinary shares, based on a 20 day volume weighted average price immediately prior to the issue
date.
Sweet........
.
Capital Raising, page-2
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