$KMPH So look, for the newbies, just a few points. 1) Without a reverse split, there's no debt rollover. Without debt rollover, KemPharm goes bankrupt when the debt is due. Perhaps the better choice, in retrospect. 2) From my point of view, it seems really dumb to do an offering before approval -- before KemPharm gets a commitment from GPC for the $48m --, and obviously the stock price reflects this. I want to believe that Deerfield forced this structure on KemPharm. 3) It boils down to the truth that KemPharm could not get any other parties to buy the ever-increasing debt. We were hopeful, but it didn't happen.
@agamemnus Deerfield had them over the barrel, but that key issue is past tense. As ugly as this is, it is the best for us all long term. $KMPH can now control their destiny and we will be able to reap the benefits down the road.
@LeftyT @agamemnus Obviously, these two guys have presented the facts. Hopefully, for the last time in any of our lives, KemPharm was bent over the barrel to "whatever extent" that makes you feel good, to raise the cash WE NEEDED AND HAD TO HAVE. WE WILL HAVE, AFTER APPROVAL, MAYBE $50 MILLION IN THE BANK, TO GO FULL SPEED AHEAD AND NOT BE CONSTRAINED BY A SHORT CASH RUNWAY. It is hard to imagine! A debt free KemPharm with one BLOCKBUSTER IN THE CHAMBER and a few more to load. Yes, the dilution isn't pretty, especially for the long timers who have kept the lights burning, but IT IS WHAT IT IS AND WE ALL MOVE FORWARD TOGETHER!
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