First of all, congratulations to all my fellow CNSP shareholders! It was a long road but we would not be here without all of you.
We are getting some questions about how your SAFE investment will convert into common shares with our IPO and want to provide some information here:
While CNSP began TRADING today, the IPO itself is currently scheduled to CLOSE on Wednesday, November 13, 2019. To repeat, our common shares, under the symbol CNSP, did start trading on Nasdaq today but our IPO has not yet closed.
Now, before there are even more questions, your SAFE investment instruments define “IPO” as: the closing of the Company’s first initial public offering of Common Stock pursuant to either an effective registration statement filed under the Securities Act or a qualified offering statement filed pursuant to Regulation A of the Securities Act." So, upon the close of the IPO your SAFE investment will convert into common shares at the discounted rate of $3.36 ($4.00 x 16% discount).
Welcome letters will be mailed out upon the issuance of your shares by the transfer agent with information on how to access your account with Continental Stock. If you would like information before the letters are received that is not a problem, you can contact the transfer agent directly at [email protected] or 800-509-5586 (Monday - Friday, 8:30am - 5:30pm EST).
All the best,