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Opko Health, Inc. Message Board

  • cabogordon cabogordon Nov 30, 2012 11:31 AM Flag

    float

    i wish we knew his true ownership as a percentage of float. but, the reverse merger makes it a tad tricky to truly estimate. I believe the price will be held back until he reaches his goal. that goal would be easier to estimate if we had more available data. he will not run it up on himself at this point. makes no sense. thus, he will keep a lid on updates or PR releases. my guess we could be waiting for another 30-60 days before a real update. If, we knew his ownership then we could summize that at 90% its time to rock and roll. but, if he's at 50% then it could be a much longer wait. neverthess, i love the story and will add on dips sub 4.40.

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    • His percentage ownership of the float is zero. Well, that is if the following definition of float is the one that is used by the likes of Yahoo and the WSJ, etc:

      "A public float, with regards to the amount of a company's stock, is the portion of outstanding shares made available to public investors for stock trading. This does not include shares held by the officers, directors or managers of a company. The following holding categories are generally excluded from the definition of a public float since they are treated as controlling or strategic holdings:

      •Shares held by persons or bodies with a controlling interest in a company
      •Shares held by the government as a promoter or acquirer
      •Share holdings through the Foreign Direct Investment (FDI) route
      •Shares that are not sold in the open market
      •Equity held by Employee Welfare Trusts
      •Equity held by associate or group companies"

      And it does seem this is the definition used. Per Yahoo:
      298.18M shares outstanding
      53.11% owned by insiders, or 158.36M shares which leaves 139.82M shares
      2.4M shares were purchased by OPK on 6/21/11 from an investor becoming treasury stock which is not available for public trading. That leaves 137.42M shares.
      Yahoo and WSJ show the float as 131.8M shares. We're less than 6M shares off at this point. Possibly, in doing one or more of Frost's deals, there are some restricted shares as part of the bargain? If so, they can't be part of the float either.

      So, it would seem that in fact, insider shares are not part of the float. The float is comprised of that which is not owned by insiders. One can not own some percent of what one can not own. :-) Frost can buy more stock and reduce the float, but he can't own any part of the float by this definition.

 
OPK
14.33+0.05(+0.35%)Apr 20 4:02 PMEDT