They are increasing the number of shares in the float.-but we don't; know who bought those yet. (if long term institutional investors (likely) then they won't have a direct immediate impact on the number of share available. - While they are increasing the number of shares available they are also increasing the equity in the company to the tune of 17 million. this will still result in dilution but it also gives the company more "breathing room" to re-toll and possibly do other acquisitions without having to take on burdensome debt. - The next 6 months to year will be very interesting.
Never heard of them. Why don't they get a big Wall Street firm to do these deals? If it turns out to be a POS does the underwriter have any obligations if the company gets sued? Pre-offering Shareholders deserve some protection.
The sale was prearranged on behalf of an institutional entity. The officers and board were permitted to jump on as well to further pad their nests, good for them. Something significant is underway that shall result in a much higher share price and quite possibly lead to a sale-acquisition.
I like making money, it provides me pleasure.
So yes, I bought today... lots.
Sentiment: Strong Buy
The over-allotment was all sold. That tells me that some big buyers were lined up to "take the shares at an attractive price" These are most likely longer term investors which is hwy we haven't seen a bunch of s\hares dumped on the market. - Time will tell.
cutup_2000------BUT, "Here's what the management says in the 10Q: "Our near-term optimism is based upon our investments into our US markets sales force and the expansion of our reseller network, our intentions to continue to expand our sales force within all revenue generating business units during fiscal 2015, our cost containment initiatives and opportunities, the increasing volume of unit sales of our new products, specifically our LED lighting fixtures, the completion of our acquisition of Harris and the increased sales market opportunities and cost synergies that Harris provides. Our long-term optimism is based upon the considerable size of the existing market opportunity for lighting retrofits, including the market opportunities in commercial office, government and retail markets that Harris provides, the continued development of our new products and product enhancements, including our new LED product offerings, and our cost reduction initiatives." cutup_2000---are you not buying their optimism???? Man, I'm thirst. Time to get me some of that kool-aid.
Orion Energy Systems, Inc. (NYSE MKT: OESX), a leading designer and manufacturer of high-performance, energy-efficient lighting platforms, today announced the completion of an underwritten public offering of 5,462,500 shares of its common stock at a purchase price of $3.50 per share. The offering includes the exercise in full of the underwriter’s over-allotment option to purchase an additional 712,500 shares of common stock. The net proceeds to the Company from this offering were approximately $17.5 million, after deducting underwriting discounts and other estimated offering expenses." What this says is that OESX received $17.5 million for 6,175,000 shares after underwriting expenses. That means the company received $2.834/share for all the shares, including the ove-rallotment taken by the underwriters.. Why wouldn't the market view that price as being what the company is worth. It's obviously good enough for the management and board of directors, so why won't the market price go to $2.834 once the underwriters sell out all their shares for $3.50 each???? If the company is satisfied with $2.834, why would anyone pay $3.80/share in the aftermarket today????
The volume hasn't been huge on the uptick. Have to think it is at least a little bullish they were able to get any money at all from the equity markets and they will at least be in business through the end of the year. I agree if you want to wait till june and july you will probably be able to buy at $2.20 but this stock isn't about today, its about next year and the expectation they will be able to ride the wave LED technology will bring. They once rode that wave through the HIF market through the last decade, now they address a bigger market with office/retail as well as industrial so it appears someone thinks, to the tune of multiple millions, they can shut down the fluorescent business and get scale in LED offerings and actually turn a profit.
About 2 weeks from start to finish on 19 plus million public offering on a "garbage" company according to Ronjan. Seems a little quick & no one really knows why. I think laid back is the only way to fly for awhile on this one. Been in & out a couple of times but this is not "kosher".
Is the new entity he started successful? Hope it is for the sake of manitowoc as it looks like this isn't going to be too strong for awhile. It's a big category so they should all be able to eat.
"with ITS LED Lighting fixtures", I heard this wasn't even their fixture. They bought and resold another vendors product.
Sentiment: Strong Sell
neal the former owner of orion started a led lighting company in manitowac to compete against oesx . i use to mold for orion energy systems when they were in plymouth . . the link is on the message board. as for the new ceo john i do not like him.i live in the same development as him. i know about neal and pat too and that neals x wives kids work there too at oesx last name kurtz.doint like them . lot of bad there .hope oesx goes down. sorry for the investors
This company sucks. My bad decision in investing in this trash. Cree is 20x better. I have 15k invested in this and it is only good for a tax write off. So sad. Management should be embarrassed.
Orion just completed a borrowing which is adequate to met cash needs in the near term and should never have Issued more equity. This company is not near enough stockholder friendly to suit me. The company is trying to expand too quickly and I have unfortunately seen cases before where the stock price is hurt badly, such as this one, as a result.
Craig-Hallum Capital Group LLC will make about a million dollars on this deal. - Not bad for not having any investment themselves. - assuming they can line up buyers before they have to pay Orion. - Financial service fees are very costly to investors... That is like a 6% commission on a $15mm deal...