Jan. 7 at 12:06 PM
$BCAB Does these mean the same closing date? & If so, is floor price decided based on 11/20 closing price?
1. 11/21 News 'closing'
Key terms of the pre-paid advance include
$7.5 million purchased at 95% of face value for
$7.125 million gross proceeds received at closing. This advance accrues interest at 4% and may be repaid in cash or converted into common stock based on a conversion price equal to the lower of
$1.39 or 95% of the lowest daily VWAP over trading day look back period. The trading day look back period will begin no earlier than November 18, 2025.
2. 11/24 PPA agreement 'Closing date'
but in no event shall the Market Price be less than 20% of the Nasdaq official closing price immediately prior to the Closing Date (the “Floor Price”), and provided that for any date of Purchase Notice before November 28, 2025, the Market Price shall instead equal to 95% of the lowest daily VWAP during the shorter period commencing on November 18, 2025
