Jul. 17 at 10:54 PM
$CELZ Proposal 2 (warrant-approval) is ugly but probably necessary. CELZ already entered the deal, and the proxy says if approval is not obtained, the company must keep holding meetings every 60 days. Voting it down could add cost, delay, and distraction, and would block a potential
$8.93M gross cash inflow if the 5.58M warrants are eventually exercised at
$1.60. The dilution is significant and the cash is not guaranteed, but if you still believe CELZ has a credible path toward Phase 3, Proposal 2 seems hard to reject.
Proposal 1 is different. Increasing authorized shares from 25M to 100M is a much bigger ask!!! Given the reverse split history, dilution history, and limited insider ownership, I would like a much clearer capital plan, Phase 3 budget, dilution limits, and more detailed explanation for why 100M authorized shares are needed now.
Are any longs voting for Proposal 1? Why?
Vote through your broker or listed voting site by 11:59 p.m. ET Aug. 27. Meeting: Aug. 28, 9 a.m. PT.
