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Celsion Corp. Message Board

  • daviscupper daviscupper Feb 1, 2013 8:54 AM Flag

    Major Dilution in the offing.

    From SEC files:

    On February 1, 2013, Celsion Corporation ("Celsion") entered into a Controlled Equity OfferingSM Sales Agreement (the "Agreement") with Cantor Fitzgerald & Co., as sales agent ("Cantor"), pursuant to which Celsion may offer and sell, from time to time, through Cantor shares of common stock, par value $0.01 per share, of Celsion having an aggregate offering price of up to $25.0 million (the "Shares"). Celsion intends to use the net proceeds from the offering, if any, for general corporate purposes, including research and development activities, capital expenditures and working capital. Pending the application of the net proceeds, Celsion intends to invest the net proceeds in short-term, investment grade, interest-bearing securities...

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    • We all knew this was coming, just a question of when. So they'll raise $25 million at +$1 a share instead of $8 a share. Wow.

    • clutching at straws ... who in the world will buy those shares?

      • 1 Reply to holger_winter
      • Hedge funds. I don't know the details of the deal but you can always get hedge funds to buy shares with a steep enough discount. Suppose they offer hedge funds 25 million shares and warrants at a $1.00 per unit (share + warrant) when the market price is $1.51 per share. The hedge funds would take that deal in a heartbeat. Why? Because they could immediately short millions of shares all the way down to a buck and reap a huge immediate profit. When the share price hits a buck they just turn in their shares to cover. They would make up to .50 per share on millions of shorted shares. And the warrants are an added bonus, if and when the share price ever recovers.

 
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