- Provectus Biopharmaceuticals (OTC:PVCT) starts a rights offering to existing shareholders and holders of its class of warrants expiring on June 19, 2020 (exercise price of $0.85) whereby it will issue subscription rights to purchase Units at $1 each.
- Each Unit consists of four shares of common stock and 1/2 share of Series C Convertible Preferred Stock. Each Series C share will pay a 7% annual dividend payable in kind (shares) for two years and be convertible into eight common shares. Preferred Stock holders will also be entitled to receive 10 - 30% of net licensing proceeds or sales from PV-10 and PH-10 for all indications.
- Unexercised rights will expire at 5:00 pm ET on February 17.
- Yesterday's close was $0.0165.