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combination option |
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If the Combination Option is not exercised within 120 days of the start of Phase I clinical trials with GPI-2A, then for every 30 day period thereafter, NVO will subscribe for an additional 90,909 common shares of GPI at a price of $1. Shareholders will be deemed to have elected pro rata the Share Option or the Combination Option, as the case may be, to the extent necessary to be within the limitations set forth above. It seems more likely to assume that certain shareholders of Co-Maxx will choose the share and cash combination option as both NuGas and Co-Maxx trade below their net asset values. |
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