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By HotStockRockets | Sunday 16 July 2017
Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Premaitha Health (NIPT) has announced that it has entered into a further extension of the investment agreement with Thermo Fisher Scientific announced on 14 December 2015 and extended as announced on 23 September 2016. This is good news.
Thermo is a true giant and is standing behind Premaitha in its patent battle with US corporate fascists Illumina. Thermo Fisher will make available to Premaitha an additional secured loan facility of $5 million of which 80% is drawn down at once "for the purposes of working capital to support commercial growth strategies" The rest is subject to milestones. Interest is at 6%, the loan is not repayable until 2023 and Thermo will also get 28,938,797 warrants with a strike price of 10.725p.
This is better than dilution and means Premaitha can crack on with expansion and getting towards breakeven ASAP and also fight Illumina hard in the courts. The US bully boys thought Premaitha was a small firm, a pushover. It reckoned without Thermo's support.
As noted before we expect Illumina to either settle or be defeated and that is far from discounted in a share price of 9.25p-9.75p. BUY
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