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PROLOR Biotech, Inc. Message Board

  • birdshooter_6 birdshooter_6 Apr 29, 2011 3:18 PM Flag


    IMHO, the selling is coming from the partners (if the shares were distributed) or the lender (if the shares were pledged and foreclosed) of the Spencer Trask Breakthrough Partners LLC which reported a disposition of 479,271 shares on April 19, 2011 (it was on this day that the volume increased for PBTH). Also, Mr. Adam Stern who is a Managing Director at Spencer Trask may have resigned from the PBTH Board of Directors on April 8, 2011 knowing that the fund where he was a MD at would be selling shares

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    • tiptopprinting Apr 30, 2011 1:26 AM Flag

      So what does this mean to us?

      Did they sell everything they have?

      Why did they sell?

      Do they know something we dont?

      • 1 Reply to tiptopprinting
      • Stern resigned (or was asked to leave) the board. We don't know why but I heard he wasn't adding much value anyway. On a separate note, his shares of Prolor that were in a partnership appear to have been pledged as collateral to a loan or some other obligation and when the partnership was dissolved, those shares went directly to the obligation holder instead of him paying the debt directly with cash. In other words, he forfeited the collateral in lieu of paying cash. It looks like he still has a little over 125,000 shares however.

        Regardless, like any other loan arrangement, they most likely could care less about investing in Prolor and just want the loan paid off so as soon as they took possession of the shares they probably started selling them to pay off the loan.

        All guessing here but this is the most likely scenario.


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