The next CR will be the first since Nant's involvement and it will be interesting to see how the capital market responds. I was never a fan of the Nant deal - for reasons that I have explained many times - and, so far, the share market has been pretty lukewarm towards it. Incidentally, we have just had the first anniversary of the Nant second tranche @18.5c. Certainly Nant has access to capital but tying more capital to new shares will surely push their ownership beyond 50%? The restrictive nature of the Nant deal (must spend most of money on BB-401) may be off-putting to other financiers?
As our capital dwindles and our capital leverage dwindles with it, I hope that existing shareholders don't get left on the shelf.
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