Well I came on the board for the first yesterday and quoted "fine print" from the SEC filing saying that the $12.98 was not written in stone. Then "bottomfizzure" comes on me by calling me every name in the book, and refers to the $12.98 figure copied on the Nasdaq website by some clerk as the gospel truth. Well I knew what I was talking about. As I mentioned the real price is not normally set until after the close of the trading day before the offering. It was set this evening at $12.25 and is apparently oversubscribed, which is EXCELLENT for the company.
Also, FWIW, ANAD is increasing the shelf filing from $100,000,000 by no more than a maximum of 20% above an additional $5,656,250.
In today's FORM S-3 filing (dated March 8, 2007): "This registration statement relates to the registrant�s registration statement on Form S-3, File no. 333-139124, which was declared effective by the Securities and Exchange Commission on December 21, 2006 (the �Prior Registration Statement�). In accordance with Rule 462(b) under the Securities Act of 1933, as amended, the proposed maximum offering price of the securities eligible to be sold under the Prior Registration Statement ($100,000,000) is carried forward to this registration statement and an additional amount of securities having a proposed maximum aggregate offering price of no more than 20% of the amount carried forward ($5,656,250) is registered on this registration statement.
Good to know those little tidbits, such as the brokerage firm supporting the offer price. That makes sense, too.
I believe that the brokerage firms make about a 6% fee on these deals, from what I gathered from the SEC filing on this one. They probably do want to be able to offer the secondary offering a bit below market, I have come to realize, even though I posted differently a few days ago.
How long do you think the brokers attept to support the offer price? Probably not long.
My guess is that this 12.25 price sets the floor for a while. However, I believe the large short position is playing many shennanigans here. They would probably like to move the price below the 12.25 level to scare people. They may try this in pre market trading.
Don't know and doesn't really matter because when there was a premium between the offer price and the market price, the flippers could borrow stock and sell it knowing that they can cover when the restriction comes off, if this is the case. Note when the markets dropped around 2pm, ANAD was a rock between 12.25 and 12.26, IMO that was the sponsors of the secondardy providing support as is informally expected. Longer term all this is noise, I expect the stock to be much higher.
BTW, for the bottomfizzure bashers, while he may have been wrong on the secondary, he is one of the very best posters here in terms of company and industry knowledge and I'm glad I was able to read so much of his material while I as doing my DD!
Thanks for the research. My portfolio mix is more commodity stocks than tech. And more time devoted in studying the commodity side than other sectors. So appreciate your sharing the info on ANAD. Good luck.
As I mention in the past, the Nasdaq's website (powered by Edgar'Online) shows the Secondary Pbulic Offering (ANAD) was PRICED at 12.98 a share on Feb 28th,2007. I don't believe the Nasdaq would provide false info. I did check several different companies, that did the SPO which were listed on their website, showed the same price SPO as listed. You can check it out yourself.
For Example: BKC was priced on 2/22/07 for 22 a share on the Nasdaq's website, and the news on the Yahoo website showed the same.
BTW, would you please advice me where I can find the link/info that shows ANAD's SPO priced at 12.25? TIA.
ANADIGICS INC Nasdaq National Market
Company Name : ANADIGICS INC
Company Address : 141 MT. BETHEL ROAD
WARREN, NJ 07059
Company Phone : 9086685000
Company Website : www.anadigics.com
CEO : Bami Bastani
Employees (as of 12/31/2006) : 508
State of Inc. : DE
Fiscal Year End : December 31
View Company Description
View Full Business Description
View Use of Proceeds
Status : Priced (2/28/2007)
Proposed Symbol : ANAD
Exchange : Nasdaq National Market
Share Price : $12.98
Shares Offered : 6,700,000
Offer Amount : $86,966,000
Total Expenses : $635,700
Shares Over Alloted : �
Shareholder Shares Offered : �
Shares Outstanding : 56,668,653
Lockup Period (days) : 180
Lockup Expiration : 8/27/2007
Quiet Period Expiration : 3/26/2007
CIK : 0000940332 <<
I don't have any links. There was the one liner on DJNEWS that it was priced @12.25 which was picked up by some brokerages, for example the E*Trade link post by msme1992, I saw it elsewhere. As to when the secondary will be completed, it is done. It was done the nanosecond the pricing was announced, all subscribers will see their shares, and judging by this morning's volume some of them flipped their new shares (or ones they borrowed) this morning, but IMO most will keep them. $12.25 should be strong support now - touched this morning but not penetrated - but personally I don't follow technicals, fundamentals rule in the long run and that is what I pay attention to for longer term positions like ANAD. ANAD is now an even much stronger company! Lot of times there are no PR's just the SEC filings to avoid the slightest possibility of legal problems; I think some kind of this-is-what-happened PR should be released for the record, but dunno if one will be.
Welcome to ANAD's message board.
I noticed all boards are alike and most of the people who post are wedded to their stocks and hence if you say anything about the stock it is like you are saying their wife is fat or a whore or something like that and hence the violent reactions. you simply aren't allowed to say such. Period. To me stock is just a 4 letter word and it doesn't matter whether it goes up or down ... you can make money if you can anticipate its movements correctly. "Buy and hold" not for me.
There's some truth in what you say, but your last line (while not arguable) does not follow from what preceded it.
Yes, one SHOULD not think of stocks as "family," but that shouldn't prevent you from holding good ones for a good long time -- in MY opinion.
But your main point about the occasional (no, you're right, nearly universal) absence of anything resembling "dialog" (or even civility) is incontestable.
However, in fairness, if you're long/bullish as I am, it's somewhere way more serious than annoying to see people fabricate stuff -- when things are a melange of ignorance and untruths, it evokes a strong negative reaction -- presumably because they're short and want to scare people.
Parents are considered monstrous these days if they tell a young child, "Don't go down the stairs to the basement, because there's a monster who likes to eat children."
Some of the shorts (and, possibly, some longs ELSEwhere) must feel, "Hey, we're all adults. If I scare someone, they obviously didn't have the courage of their convictions."
By the way, and while I know that it may not be diplomatic to say this, I *DO* think that ANAD is one of those rare stocks (the only one I'd say it about today) that could make one's net worth grow significantly, quickly, without the risk that usually accompanies that potential.