Today's announcement of the merger of IGI with Senetek is interesting. There is a walkaway clause if the combined market values of the stocks is not $40 million plus there is probably an out if either wants after reviewing the due diligence results.
Today's selling is probably from confusion and disappointment something bigger didn't happen but this game appears to be in the 5th inning and not the bottom of the 9th. Hard to believe IGI's big holders would let this Company go for under $2.00 per share.
This is a fairly ignominious end to the company given its once-promising beginnings. This deal is better than a bankruptcy but it really doesn't say much when a company with a 30 cent share price takes you over.
As a former shareholder and one-time Vineland resident, this deal strikes me as an admission that the post-Gallo mess era was not all that promising. It seems that spinning off Novamax was, in retrospect, a bad move, but other bad moves intervened.
Whether or not the deal goes through, investors will probably have had enough. I don't think SNTK is much of merger partner...this is a marriage born of semi-desperation.
Confused about this. Little growing duckling taken over by badly financially, speckled wolf, with bad teeth, from a bad family, wrong side of tracks. IG seemed to have its act together until now. I don't understand what these guys are doing. Very, very poor move on IG's part. I will be parting company soon. I cannot forsee waiting 60 days for the inevitable. And tax loss time is approaching. Does anyone see any positives in this news. I am searching and see Zero good coming from this.