Last week, Genesis Biopharma Inc. (OTC:GNBP) served a pre-Christmas 8-K to the attention of investors. The document was registered with the SEC on Dec. 22.
With this official publication, the company announced that effective December 19, 2011 GNBP had entered into agreements with all the holders of the company’s previously issued tranche A senior unsecured convertible notes and tranche B senior unsecured convertible notes whereby the maturity date of the notes had been further extended from Dec. 19, 2011 to Jan. 5, 2012.
The 8-K said that ” in cosidertaion of the second extenstion of the maturity date of the notes the company had agreed to a modification of the anti-dilution provisions of the notes as well as the tranche A warrants to purchase common stock and tranche B warrants to purchase common stock previously issued in conjunction with the Notes.”
Investors can read further details on the announcement on the official SEC site. The announcement has not been yet been disclosed on the OTC Markets News Section.
On the last trading session, the trading of GNBP common stock showed some enlivenment. The trading volume surged up to 83 thousand shares which is more than four times higher than the daily average. At the same time the share price closed the session 25% higher at $1.00.
