Yeah - so I voted. One of the votes asked if we grant PIP the ability to raise 175M in additional shares (to use for the merger with Theraclone). That would dilute us 4x. The choices I got were yes, no or obstain. If there was a #$%$*k no button, I would have selected that.
4x - really???? No wonder we are stuck where we are. F- the merger - merge if you want after the settlement. Not a good deal IMO. I read everything - just think PIP is worth more with the birds in hand + the tax considerations (and yes, I am saying the win over Siga is a bird in hand - too much money was already bet on PIP getting at least 1/2).
You read that wrong. The first question was to approve or not approve the issuance of stock for the merger. The second question (the one you're referring to) was a general question, namely to amend the corporate docs to allow a new cap on the total shares the company may issue. The new cap would be 175M, up from 75M. That increases the cap to 175M, not allows an additional 175M to be issued for the merger. It also doesn't mean that the new 100M will be issued, either. Remember, the cap had been 75M, and we were only at about 47-50M.
I still voted no to it all, but let's get the facts right.