Further tranches of options will be issued to Macquarie at each drawdown with a strike price set at a 20% premium to the 30 day VWAP
prior to the date of each drawdown and the number of options issued being equal to 75% of the face value of the tranche divided by the 30 day VWAP
Release date- 19102012 - Biota Holdings Limited (ASX:BTA; Biota) under its merger agreement with Nabi Biopharmaceuticals (Nabi) provides the following information in respect of its 10 day volume weighted average sale price, expressed in US$ (US$ 10 day VWAP
); theexchange ratio of Nabi shares to be received for Biota shares; and the percentage of ownership post-merger by the respective shareholder groups.
It's not uncommon, particularly across Asian markets, to hear the instruction from both buy-side fund managers and traders, "I don't want to take any risks on the trading, just get me VWAP
Instead, practitioners use the volume-weighted average price (VWAP
) as the benchmark.
Stage 3 increases the WI to 100%, through the payment of USD 500,000 in cash, which shall be applied by GOG to subscribe for new ordinary shares in Block, priced at the 30 day VWAP
calculated as at the day preceding the day of issue, subject to a minimum issue price of 4p per new ordinary share.
In conjunction, Petrichor has funded a USD15m note, which is convertible into Cryoport common shares at a price per share of USD13.11, based upon a 20.0% premium to the 15-day VWAP
immediately prior to closing.
Under the terms of the contingent asset purchase agreement, Golden Leaf will acquire assets for USD 7,146,582, consisting of USD 1.25m in cash at closing and USD 500,000 of GLH stock based on the VWAP
for the 30-days immediately preceding the closing date.
The conversion price for the notes will be set at 8% discount to the lowest daily volume weighted average price (VWAP
) over the last 15 trading days during which ESGO will not have traded any share of Episurf in the market among the trading days immediately preceding the conversion date.
If the VWAP
immediately prior to the merger is greater than or equal to USD 18.50 then each share of Valley common stock shall be converted into 1.1081 shares of BNC common stock.
As part of the Agreement, Lind will be granted 1,300,000 options exercisable at 125% of the average daily volume weighted average price (VWAP
) per share for the 20 consecutive trading days immediately prior to the date of the execution of the Agreement.
This price is said to represent a premium on the value of Ardea's stock of 50% based on the one month volume-weighted average price (VWAP
) and 54% based on the closing price on Friday 20 April 2012.
Provided that in no event will the purchase price per USD1,000 principal amount of Convertible Notes be less than USD1,878.65, the company will pay average VWAP
of the company's common stock multiplied by a Fixed Share Amount of 79.5745.