CR U$15m Why would: 1. Usa investors pay U$10.5 (70x U15c), when sp has nearly halved from 21c to 12c. 2.Yacov not wait for Cfda/Nmpa approval to get a better IPO price in future, and issue less shares/ADS 3.Lose control (<50%) of Gmv now by issuing *100m shares (1.43m ADS, 70x), whenthere is nothing to gain for him or usa investors to . Yacov will end up with only 45% of 500m. ~400m +100m* =500m shares
As i said 3-4 months ago, they dont need the$15m for next 12 mths opre cost. U$6m loan balance is sufficient, for next 3-4 qtrs, plus revenues from UK & USA.
That should cover us till we get approvals for Nmpa/Cfda/Prizma/Contracts and UsFDA/Gmpatch.
So usa IPO withdrawal is a surprise to some and not a surprise to others. Bonus is u/w fee is refunded.