Time To Get Returns: BiondVax Pharmaceuticals Ltd. (NASDAQ: BVXV)

On 28 Jan 2020, BiondVax Pharmaceuticals Ltd. stock identified change of 141.94% away from 52-week low price and recently located move of -16.67% off 52-week high price. BVXV stock has been recorded 43.72% away from 50 day moving average and 73.09% away from 200 day moving average. Moving closer, we can see that shares have been trading 12.36% off 20-day moving average.

BiondVax Pharmaceuticals Ltd. (BVXV) reported that effective January 16, 2020, the Company will permit holders of all outstanding warrants of the Company (“Warrants”) issued to investors in connection with its initial public offering on Nasdaq (the “Warrant holders”) to exercise their warrants on a cashless exercise basis. Warrant holders will continue to be able to exercise their Warrants on a cash basis as well.  No other terms of the Warrants are being amended.

The cashless exercise right being provided to Warrant holders allows them to capture the value between the current price of BiondVax’s American Depositary Shares (“ADSs”) and the exercise price of the warrants without the need to provide cash on exercise. At the same time, it results in fewer ADSs being issued to them.

Cashless exercise would enable Warrant holders to exercise their Warrants without paying cash but rather paying the exercise price from the value of the ADSs of BiondVax that would otherwise be issued to the Warrant holder were the Warrants exercised on a cash basis.  The Warrant holders exercising on a cashless basis would receive a number of ADSs equal in value to the market value of one ADS at the time of exercise (calculated according to a formula in the amendment to warrant contract) less the exercise price of the warrants multiplied by the number of Warrants being exercised. This description of the manner for determining the number of shares issuable to a Warrant holder that exercises on a cashless basis is qualified in its entirety by the amendment to the warrant contract to be submitted to the Securities and Exchange Commission recently on Form 6-K.

The Healthcare sector company, BiondVax Pharmaceuticals Ltd. noticed change of -2.27% to $11.25 along volume of 48126 shares in recent session compared to an average volume of 32.89K. BVXV’s shares are at 106.13% for the quarter and driving a 108.33% return over the course of the past year and is now at 21.10% since this point in 2018.   The average volatility for the week at 7.92% and for month was at 9.62%. There are 7M shares outstanding and 5.14M shares are floated in market.

 

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