Jan. 6 at 5:25 PM
$TRIB So, my guess is that Perceptive converted and sold around 40 to 45 million shares on Dec 23 at whatever price would total
$60 million. If so, the new float would be around 75 to 80 million with Perceptive holding 10% of that in stock and the rest still in warrants or convertibles or debt. The debt would be maybe
$40 million (plus Mico which isn’t due for 3 or 4 years). Could be less if Trinity did some ATM as well. I believe
$35 million is the magic number at which they get a big interest rate price break.
But, I think there’s more action to come here, perhaps related to the partnership. I think a big goal has been to not give away too much of the CGM to a partner.
