Tim, I have been investing successfully in microcaps for a long long time and have lots of contacts in the industry. With all due respect, just because I have done a my due diligence, dont call it a "pump" - as you have no clue about what you are saying.
Now that the deal has closed, both Jeffries and funds that participated can both discuss how much demand for the shares there was - that isnt "insider info". Many funds did NOT get their full allocation. Additionally, given the recent buying activity since the deal closed, it is clear to me that they are in the open mkt making up for the shares they were unable to get on the over- subsubscribed offering.
Over-allotment exercised and placement closed as of today! $$$$$$$$$$$
REDWOOD CITY, Calif., Dec. 14, 2012 /PRNewswire/ -- AcelRx Pharmaceuticals, Inc. (ACRX), announced today that the underwriters of its public offering have exercised, in full, their option to purchase an additional 1,875,000 shares of common stock at a public offering price of $3.31 per share. This option to purchase additional shares was granted to the underwriters in connection with AcelRx's previously announced underwritten public offering of 12,500,000 shares of its common stock, which was closed on December 12, 2012. The sale of option shares was closed on December 14, 2012. With the exercise of this option, the total gross proceeds of the public offering increased to approximately $47.6 million with estimated net proceeds to AcelRx of $44.2 million after deducting underwriting discounts and estimated expenses.
Jefferies & Company, Inc. and Cowen and Company, LLC acted as joint book-running managers for the offering, with Canaccord Genuity Inc. acting as co-lead manager