May. 11 at 7:51 PM
$ZNB True, Convertible equation is the same for the
$4M 2nd tranche as it was for the
$6M first tranche.
The two important differences are:
1. The number of outstanding shares tied to the 2nd tranche conversion will likely be much higher. Hopefully, we find out today or tomorrow through SEC filing
2. That larger share capacity could allow the
$4M vs the earlier
$6M conversion process to complete 3+ times faster than the first tranche, especially if the stock price remains under pressure and conversion mechanics continue to favor rapid issuance.
