It does seem high but I think the fee is for working the orders moreso than finding lots.
I speculate that the market maker aquires shares knowing BD will buy them and in this case, they mark them up a little and cross the blocks.
Didnt expect them to pay up to $1.15 however.
I came up with $1.23 per share in cash/book but they have some kind of burn rate going forward.
They've got a CEO but we dont know what he earns, it wasnt in the proxy. Maybe it didnt have to be but typically it is when there is a new one.
One wonders if they will try to turn this into a public hedge fund sort of what Biglari did with Steak N Shake ?
amazing to me that they are paying between .015 and .02/share commission for these trades....I guess you gotta pay the extra bucks to find investors to sell you large lots.
re: "(1) Excluding commission of $0.015 per share.
(2) Excluding commission of $0.020 per share.”"
Looks like they bought just shy of 2 million more shares and own 29.9%.
Becker Drapkin QP 1,432,672 $ 1.1000 (1) Open Market Transaction
Becker Drapkin LP 199,258 $ 1.1000 (1) Open Market Transaction
Becker Drapkin QP 307,265 $ 1.0900 (2) Open Market Transaction
Becker Drapkin LP 42,735 $ 1.0900 (2) Open Market Transaction
(1) Excluding commission of $0.015 per share.
(2) Excluding commission of $0.020 per share.”
Really wish yahoo would fix it.
No warning, no 8k. no press release.
Pretty bush league if you ask me.
And now, yahoo wont be able to figure out how to link this board with the new symbol for a few years. Just above their competence level.
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