Ann: Factor Therapeutics Appoints Transaction Advisor, page-6

Very unusual announcement in regards to who they have appointed and way it is worded

Apart from obvious telix links with TC I am unclear what great depth TC have in regards to transactions with Majors.  Just who is helping TC with this transaction?   What another batch of latecomers at a  discount and closed placement supported by Morgs- something to look forward to.- not .  Really need some later vesting options to existing holders at some point to prevent cheap takovers and make interested parties buy on market to get leverage not just bid late with no risk. 

I am surprised at wording considering that ASX and ASIC have been cracking down on announcements that don't have full details and imply results. 

If there is that much interest and demand for the deal why are they not extracting a upfront fee to sit at the table?   The usual everyone wants a seat at the main table at the wedding when it is a good marriage but if not you are a orphan.A very enthusiastic suitor would have provided some partnership or funding so they also had risk earlier and received a last bid option in return for any later deal or corp action and FTT could have funded next set of trials and prep in parallel. But no shareholders carry the can for all the risk gradually diluted at discounted offers by late comers.

This smells like a strategy and timing to get noticed so the base level of inflection point ( hopefully positive) starts higher.   

The only positive I can make from this is that many US and euro advisors have vested interests with possible bidders and the little Aussie will get chewed up and spat out as many have seen before not getting the right deals at the right price as they will never have to deal with FTT again but deal regularly with big pharma. Definite bias with some advisors IMO with pricing and smaller rarely gets full value imo..  I want at least partnered distribution to get market breadth and share quickly as structuring and funding that from scratch rarely works well and they need to be in the marketplace and make use of every minute of patent life.