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MELA Sciences, Inc. Message Board

  • bob.corleone30 bob.corleone30 Jul 12, 2013 1:31 PM Flag


    Ask Cowen how many MELA shares they hold? Zero. Why? Are they instrumenting the upcoming PIPE and cover short positions lower? LOL!

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    • come now Bob, you know insider trading is against the law and would violate their liscences, glad to see you've kept your sense of humor.............................................................................perhaps the question should be how many of their prefered clients have been advised to short MELA in anticipation of.............................current management should cut a partnership outside channels and really stick it to Cowens........

      • 1 Reply to dwoods4q
      • I see Cowen was heavily involved in the last pipe few months ago

        424B5 and 8-K form filled Feb 12, 2013.

        "Discretionary Accounts. The underwriter does not intend to confirm sales of the shares to any accounts over which it has discretionary authority.
        Stabilization. In connection with this offering, the underwriter may engage in stabilizing transactions, syndicate covering transactions, and purchases to cover positions created by short sales.

        • Stabilizing transactions permit bids to purchase shares of common stock so long as the stabilizing bids do not exceed a specified maximum, and are engaged in for the purpose of preventing or retarding a decline in the market price of the common stock while the offering is in progress.

        • Syndicate covering transactions involve purchases of common stock in the open market after the distribution has been completed in order to cover syndicate short positions. If the underwriter has a naked short position, the position would be closed out by buying shares in the open market. A naked short position is more likely to be created if the underwriter is concerned that after pricing there could be downward pressure on the price of the shares in the open market that could adversely affect investors who purchase in the offering.
        Cowen and Company, LLC, in its sole discretion, may release our common stock and other securities subject to the lock-up agreements described above in whole or in part at any time. When determining whether or not to release our common stock and other securities from lock-up agreements, Cowen and Company, LLC will consider, among other factors, the holder’s reasons for requesting the release, the number of shares for which the release is being requested and market conditions at the time of the request.

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